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American Tower (AMT)

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 186,000 communications sites.

Company profile

Ticker
AMT
Exchange
CEO
Thomas Bartlett
Employees
Incorporated
Location
Fiscal year end
Former names
AMERICAN TOWER SYSTEMS CORP
SEC CIK
Subsidiaries
10 Presidential Way Associates, LLC • 3267351 Nova Scotia Company • 3286208 Nova Scotia Company • 3298099 Nova Scotia Company • 52 Eighty Partners, LLC • 52 Eighty Tower Partners I, LLC • ACC Tower Sub, LLC • ActiveX Telebroadband Services Private Limited • Adquisiciones y Proyectos Inalámbricos, S. de R. L. de C.V. • Agile Airband Ohio, LLC ...
IRS number
650723837

AMT stock data

Calendar

27 Apr 22
29 Jun 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 2.27B 2.27B 2.27B 2.27B 2.27B 2.27B
Cash burn (monthly) 23.97M (no burn) (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 71.05M n/a n/a n/a n/a n/a
Cash remaining 2.2B n/a n/a n/a n/a n/a
Runway (months of cash) 91.8 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
15 Jun 22 Hormats Robert D Common Stock Sell Dispose S No Yes 235.4 200 47.08K 6,721
1 Jun 22 Hormats Robert D Common Stock Sell Dispose S No Yes 256.13 200 51.23K 6,921
1 May 22 Rodney M Smith Common Stock Payment of exercise Dispose F No No 241.02 333 80.26K 52,065
1 May 22 Bartlett Thomas A Common Stock Payment of exercise Dispose F No No 241.02 579 139.55K 217,457
89.6% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 1638 1720 -4.8%
Opened positions 98 249 -60.6%
Closed positions 180 129 +39.5%
Increased positions 720 753 -4.4%
Reduced positions 595 477 +24.7%
13F shares Current Prev Q Change
Total value 102.57B 120.87B -15.1%
Total shares 408.68M 413.99M -1.3%
Total puts 2.08M 2.5M -16.8%
Total calls 2.52M 2.28M +10.9%
Total put/call ratio 0.8 1.1 -25.0%
Largest owners Shares Value Change
Vanguard 59.98M $15.07B +1.4%
BLK Blackrock 35.04M $8.8B -4.4%
STT State Street 21.25M $5.34B +7.9%
CNS Cohen & Steers 19.68M $4.94B +27.5%
Wellington Management 10.73M $2.7B -12.7%
Edgewood Management 9.23M $2.32B -1.1%
Geode Capital Management 8.95M $2.24B +3.2%
FMR 7.57M $1.9B -11.2%
Akre Capital Management 7M $1.76B -0.2%
GS Goldman Sachs 6.3M $1.58B +6.5%
Largest transactions Shares Bought/sold Change
CNS Cohen & Steers 19.68M +4.24M +27.5%
Norges Bank 0 -3.93M EXIT
Capital World Investors 1.58M -2.14M -57.5%
BLK Blackrock 35.04M -1.6M -4.4%
Wellington Management 10.73M -1.56M -12.7%
STT State Street 21.25M +1.55M +7.9%
Jennison Associates 1.52M +1.4M +1183.6%
Capital Research Global Investors 2.19M -1.09M -33.3%
FMR 7.57M -954.28K -11.2%
Manufacturers Life Insurance Company, The 1.97M -938.22K -32.3%

Financial report summary

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Risks
  • If our customers consolidate their operations, exit their businesses or share site infrastructure to a significant degree, our growth, revenue and ability to generate positive cash flows could be materially and adversely affected.
  • A substantial portion of our revenue is derived from a small number of customers, and we are sensitive to adverse changes in the creditworthiness and financial strength of our customers.
  • Increasing competition within our industry may materially and adversely affect our revenue.
  • Our expansion initiatives involve a number of risks and uncertainties, including those related to integrating acquired or leased assets, that could adversely affect our operating results, disrupt our operations or expose us to additional risk.
  • Failure to successfully and efficiently integrate and operate acquired data center facilities and related assets, including those acquired through the CoreSite Acquisition (the “CoreSite Assets”), into our operations may adversely affect our business, operations and financial condition.
  • New technologies or changes in our or a customer’s business model could make our communications infrastructure leasing business less desirable and result in decreasing revenues and operating results.
  • Competition for assets could adversely affect our ability to achieve our return on investment criteria.
  • Our leverage and debt service obligations may materially and adversely affect our ability to raise additional financing to fund capital expenditures, future growth and expansion initiatives and to satisfy our distribution requirements.
  • Rising inflation may adversely affect us by increasing costs beyond what we can recover through price increases.
  • Restrictive covenants in the agreements related to our securitization transactions, our credit facilities and our debt securities could materially and adversely affect our business by limiting flexibility, and we may be prohibited from paying dividends on our common stock, which may jeopardize our qualification for taxation as a REIT.
  • We may be adversely affected by changes in LIBOR reporting practices, the method in which LIBOR is determined or the use of alternative reference rates.
  • Our business, and that of our customers, is subject to laws, regulations and administrative and judicial decisions, and changes thereto, that could restrict our ability to operate our business as we currently do or impact our competitive landscape.
  • Our foreign operations are subject to economic, political and other risks that could materially and adversely affect our revenues or financial position, including risks associated with fluctuations in foreign currency exchange rates.
  • If we fail to remain qualified for taxation as a REIT, we will be subject to tax at corporate income tax rates, which may substantially reduce funds otherwise available, and even if we qualify for taxation as a REIT, we may face tax liabilities that impact earnings and available cash flow.
  • Complying with REIT requirements may limit our flexibility or cause us to forego otherwise attractive opportunities.
  • We could have liability under environmental and occupational safety and health laws.
  • Our towers, fiber networks, data centers or computer systems may be affected by natural disasters (including as a result of climate change) and other unforeseen events for which our insurance may not provide adequate coverage or result in increased insurance premiums.
  • If we, or third parties on which we rely, experience technology failures, including cybersecurity incidents or the loss of personally identifiable information, we may incur substantial costs and suffer other negative consequences, which may include reputational damage.
  • Our costs could increase and our revenues could decrease due to perceived health risks from radio emissions, especially if these perceived risks are substantiated.
  • If we are unable to protect our rights to the land under our towers and buildings in which our data centers are located, it could adversely affect our business and operating results.
  • If we are unable or choose not to exercise our rights to purchase towers that are subject to lease and sublease agreements at the end of the applicable period, our cash flows derived from those towers will be eliminated.
Management Discussion
  • This Quarterly Report on Form 10-Q (this “Quarterly Report”) contains forward-looking statements relating to our goals, beliefs, plans or current expectations and other statements that are not of historical facts. For example, when we use words such as “project,” “believe,” “anticipate,” “expect,” “forecast,” “estimate,” “intend,” “should,” “would,” “could,” “may” or other words that convey uncertainty of future events or outcomes, we are making forward-looking statements. Certain important factors may cause actual results to differ materially from those indicated by our forward-looking statements, including those set forth under the caption “Risk Factors” in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2021 (the “2021 Form 10-K”). Forward-looking statements represent management’s current expectations and are inherently uncertain. We do not undertake any obligation to update forward-looking statements made by us.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
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