American Tower Corporation is a real estate investment trust (REIT) and a leading owner and operator of wireless communication infrastructure in the world. It is also known as American Tower or ATC. The company was formed as a division of America Rad
American Tower Corporation is a real estate investment trust (REIT) and a leading owner and operator of wireless communication infrastructure in the world. It is also known as American Tower or ATC. The company was formed as a division of America Radio Systems in 1995. In 1998, following a merger of America Radio Systems and CBS Corporation, American Tower was established as a standalone company. It is headquartered in Boston, Massachusetts, US. As of 2020, its global portfolio includes more than 181,000 sites across 5 continents and 20 countries, such as Colombia, Kenya, France, Germany, India, Burkina Faso, Costa Rica, and several others.
American Tower shares trades on the New York Stock Exchange (NYSE) as AMT. AMT stock closing price reached an all-time high at $271.29 on July 29th,2020. It also occupies a spot at the S&P 500 index as well as the S&P 100 index. The company’s annual revenue stood at $6.66 billion in 2017, 15.18% more than its previous fiscal year. The same year, American Tower joined the list of Fortune 500 companies. AMT ranked 543rd on Forbes’ list of Global 2000 in 2020. As of January 2020, American Tower was one of the largest REITs worldwide, with a market cap of $102.3 billion.
Over the years, AMT has made numerous notable acquisitions. American Tower acquired its close competitor- SpectraSite Communications and became the largest tower company in the United States. In 2013, it acquired Global Towers Partners, the largest privately-owned tower operator company of the US at the time. With this acquisition, AMT added multiple new sites to its US portfolio and further expanded its operations in Panama and Costa Rica. This transaction was worth $4.8 billion. In 2020, the company acquired Eaton Towers Holdings Limited for $1.28 billion, in addition to the assumption of its existing debt. This acquisition further expanded its African portfolio, adding approximately 5,800 sites.
In 2017, American Tower established its philanthropic arm – The American Tower Foundation. From 2017-19, this foundation awarded over $1.8 million in grants to youth development agencies and school districts. This offered access to higher education and better learning for students who are talented yet underrepresented. As Covid-19 relief efforts, the company contributed $2 million in 2020. Fortune Magazine named AMT as one of the World’s Most Admired Companies in 2020. American Tower also ranked on Forbes’ list of America’s Best Midsize Employers and America’s Best Employers for Diversity.
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