AMT - American Tower Corporation (AMT) Presents at Nareit REIT Week: 2024 Investor Conference Call Transcript

2024-06-05 10:55:25 ET

American Tower Corporation (AMT)

Nareit REIT Week: 2024 Investor Conference Call

June 05, 2024, 08:45 AM ET

Company Participants

Steve Vondran - President and Chief Executive Officer

Conference Call Participants

Rick Prentiss - Raymond James

Presentation

Rick Prentiss

All right. Good morning, everybody. I'm Rick Prentiss, Head of Telecom Services Research at Raymond James. That includes TMT Towers, media and telecom services. We're excited to continue the Nareit tradition of American Tower and Raymond James. This is a dozen years we've been hosting American Tower here at their presentation slot, ever since American Tower converted to a REIT back in 2012.

Actually we were even here before then because we would do meetings on the side in the Waldorf restaurants before you converted. But it was pretty clear to us, having covered the tower space for 25 years, that towers would become REITs and obviously become quite large market cap REITs. This year welcome a new person up on the stage. American Towers still fairly new CEO Steve Vondran. Steve, welcome.

Steve Vondran

Thanks Rick, thanks for having us again.

Rick Prentiss

You bet. With new hands on the helm, I think a natural question, actually new hands on the helm of all three public tower stocks as far as who's CEO, interesting times. What's going to change in the direction, the strategy or execution?

Steve Vondran

Sure. Well Rick, as you know, I've been at American Tower for almost 24 years. I've been part of the leadership team leading the U.S. and Canada and also our CoreSite business for the last five. So I've had a lot of time working with Tom and Jim, Rod and the executive team on developing our strategy. So you could expect a lot of continuity in terms of how we think about the business and so we'll continue to execute on some of the initiatives that we've already started....

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