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American Tower Corp AMT Stock Quote

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Morningstar‘s Stock Analysis AMT

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Is it the right time to buy or sell?
Is it the right time to buy or sell?

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Broad International Market Exposure Differentiates American Tower From Peers

Matthew Dolgin, CFA Equity Analyst

Business Strategy and Outlook

| Matthew Dolgin, CFA |

We think American Tower's strategy to diversify its tower portfolio globally leaves it best positioned among the three U.S. tower companies, as it is primed to benefit from the continually increasing demand in mobile data worldwide. However, we don't think veering into the data center business, which it did with its acquisition of CoreSite, will pay off, and it distracts from the tower focus we liked for American Tower.

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Key Statistics AMT

Company Profile AMT

Business Description

American Tower owns and operates more than 220,000 cell towers throughout the U.S., Asia, Latin America, Europe, and Africa. It also owns and/or operates 25 data centers in eight U.S. markets after acquiring CoreSite. On its towers, the company has a very concentrated customer base, with most revenue in each market being generated by just the top few mobile carriers. The company operates more than 40,000 towers in the U.S., which accounted for more than half of its total revenue in 2021. Outside the U.S., American Tower’s greatest presence is in India and Brazil, where it operates roughly 75,000 and 19,000 towers, respectively. American Tower operates as a real estate investment trust.

116 Huntington Avenue, 11th Floor
Boston, MA, 02116
T +1 617 375-7500
Industry REIT - Specialty
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 6,378

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