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
Website
CEO
Thomas Bartlett
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
AMERICAN TOWER SYSTEMS CORP
SEC CIK
Corporate docs
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
News

Here's How Much You Would Have Made Owning American Tower Stock In The Last 10 Years
24 Jun 22
How Are REITs Performing Compared To The Rest Of The Market In 2022?
21 Jun 22
Benzinga's Top Ratings Upgrades, Downgrades For June 21, 2022
21 Jun 22
10 Biggest Price Target Changes For Tuesday
21 Jun 22
JP Morgan Upgrades American Tower to Overweight, Raises Price Target to $285
21 Jun 22
Press releases
CoreSite Deploys Arrcus Multi-Cloud Networking Solution to Help Build Out its Open Cloud Exchange® (OCX) -- Connecting Enterprises Private Infrastructure to Public Cloud Resources
16 Jun 22
CoreSite Expands into Atlanta and Orlando Data Center Markets
7 Jun 22
American Tower Corporation Prices Public Offering of Common Stock
2 Jun 22
American Tower Corporation Announces Proposed Public Offering of Common Stock
2 Jun 22
American Tower Corporation Joins the United Nations Global Compact and Adopts the United Nations Women's Empowerment Principles
23 May 22
Analyst ratings and price targets
Current price
Average target
$280.75
Low target
$268.00
High target
$288.00
JP Morgan
Upgraded
$285.00
Morgan Stanley
Maintains
$268.00
RBC Capital
Maintains
$282.00
Raymond James
Maintains
$288.00
Calendar
27 Apr 22
29 Jun 22
31 Dec 22
Financial summary
Quarter (USD) | Mar 22 | Dec 21 | Sep 21 | Jun 21 | |
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Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
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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 |
Recent insider trades
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 |
Institutional ownership, Q1 2022
89.6% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 1638 |
Opened positions | 98 |
Closed positions | 180 |
Increased positions | 720 |
Reduced positions | 595 |
13F shares | Current |
---|---|
Total value | 102.57B |
Total shares | 408.68M |
Total puts | 2.08M |
Total calls | 2.52M |
Total put/call ratio | 0.8 |
Largest owners | Shares | Value |
---|---|---|
Vanguard | 59.98M | $15.07B |
BLK Blackrock | 35.04M | $8.8B |
STT State Street | 21.25M | $5.34B |
CNS Cohen & Steers | 19.68M | $4.94B |
Wellington Management | 10.73M | $2.7B |
Edgewood Management | 9.23M | $2.32B |
Geode Capital Management | 8.95M | $2.24B |
FMR | 7.57M | $1.9B |
Akre Capital Management | 7M | $1.76B |
GS Goldman Sachs | 6.3M | $1.58B |
Financial report summary
?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
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. junior Avg
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New words:
approach, assurance, avoided, center, CFA, Chief, CoreSite, customer, detailed, feet, forfeited, Iberia, interconnected, interconnection, light, longer, mandatory, MIP, month, NRSF, occupancy, Realty, recoverability, rentable, reversal, revision, square, vacancy, visibility
Removed:
acceleration, accurately, added, AGR, amendment, approval, Asia, Bill, BofA, bridge, buy, canceled, classification, combined, committed, competitive, compressed, consummate, court, dated, decommissioning, decreased, determining, Entel, entering, Entry, equivalent, executed, expensed, experienced, feature, February, flexibility, grow, guaranteed, IDFC, inclusion, indoor, IWG, landscape, largely, letter, limitation, local, Macquarie, merged, moderate, MTN, negatively, October, originally, owed, Pacific, PCS, practicable, predicted, prescribed, Pte, put, rating, realization, recently, redeemable, redeemed, reduced, regulatory, remotely, rename, restricting, SAS, SBI, separated, shareholder, statement, step, stepping, sublimit, Supreme, tangible, Tata, thereto, timeline, TIPL, travel, Treasury, unamortized, unfavorable, Viom, wholly
Financial reports
Current reports
8-K
Entry into a Material Definitive Agreement
7 Jun 22
8-K
American Tower Corporation Announces Proposed Public Offering of Common Stock
3 Jun 22
8-K
Other Events
2 Jun 22
8-K
American Tower Corporation Joins the United Nations Global Compact and Adopts the United Nations Women’s Empowerment Principles
23 May 22
8-K
American Tower Corporation Declares Quarterly Distribution
19 May 22
8-K
American Tower Corporation Reports First Quarter 2022 Financial Results
27 Apr 22
8-K
Entry into a Material Definitive Agreement
1 Apr 22
8-K
American Tower Corporation Prices Senior Notes Offering
29 Mar 22
8-K
Other Events
29 Mar 22
8-K
American Tower Corporation Announces Election of Kelly C. Chambliss to Board of Directors and Declares Quarterly Distribution
11 Mar 22
Registration and prospectus
424B2
Prospectus for primary offering
3 Jun 22
424B5
Prospectus supplement for primary offering
2 Jun 22
S-3ASR
Automatic shelf registration
1 Jun 22
424B2
Prospectus for primary offering
30 Mar 22
FWP
Free writing prospectus
29 Mar 22
424B5
Prospectus supplement for primary offering
29 Mar 22
S-8
Registration of securities for employees
28 Dec 21
SC TO-T/A
Third party tender offer statement (amended)
28 Dec 21
SC TO-T/A
Third party tender offer statement (amended)
17 Dec 21
SC TO-T/A
Third party tender offer statement (amended)
10 Dec 21
Proxies
DEFA14A
Additional proxy soliciting materials
6 Apr 22
DEFA14A
Additional proxy soliciting materials
14 Apr 21
DEFA14A
Additional proxy soliciting materials
6 Apr 20
DEFA14A
Additional proxy soliciting materials
10 Apr 19
DEF 14A
Definitive proxy
11 Apr 18
DEFA14A
Additional proxy soliciting materials
11 Apr 18
Other
CERT
Certification of approval for exchange listing
12 Oct 21
CERT
Certification of approval for exchange listing
27 May 21
CERT
Certification of approval for exchange listing
17 Sep 20
CERT
Certification of approval for exchange listing
24 May 18
UPLOAD
Letter from SEC
1 Apr 18
CORRESP
Correspondence with SEC
29 Mar 18
UPLOAD
Letter from SEC
18 Mar 18
CERTNYS
Certification of approval for NYSE listing
10 Apr 17
CORRESP
Correspondence with SEC
10 May 16
UPLOAD
Letter from SEC
10 May 16
Ownership
4
AMERICAN TOWER / ROBERT D HORMATS ownership change
17 Jun 22
4
AMERICAN TOWER / ROBERT D HORMATS ownership change
3 Jun 22
4
AMERICAN TOWER / Gustavo Lara ownership change
18 May 22
3/A
AMERICAN TOWER / Kelly C Chambliss ownership change
10 May 22
4
AMERICAN TOWER / Thomas A Bartlett ownership change
3 May 22
4
AMERICAN TOWER / Rodney M Smith ownership change
3 May 22
4
AMERICAN TOWER / Bruce L Tanner ownership change
3 May 22
4
AMERICAN TOWER / Rodney M Smith ownership change
25 Apr 22
3
AMERICAN TOWER / Kelly C Chambliss ownership change
17 Mar 22
4
AMERICAN TOWER / Robert Joseph Meyer JR ownership change
17 Mar 22
Transcripts
2022 Q1
Earnings call transcript
27 Apr 22
2021 Q4
Earnings call transcript
24 Feb 22
2021 Q3
Earnings call transcript
28 Oct 21
2021 Q2
Earnings call transcript
29 Jul 21
2021 Q1
Earnings call transcript
29 Apr 21
2020 Q4
Earnings call transcript
25 Feb 21
2020 Q3
Earnings call transcript
29 Oct 20
2020 Q2
Earnings call transcript
30 Jul 20
2020 Q1
Earnings call transcript
29 Apr 20
2019 Q4
Earnings call transcript
25 Feb 20
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