2024-05-06 11:00:00 ET
Summary
- American Tower, one of the largest global REITs, is now an $80 billion (by market cap) real estate infrastructure monster.
- The company has increased its dividend for 14 consecutive years with a 10-year dividend growth rate of 19.1%.
- It agreed to sell its India portfolio (comprising over 75,000 sites) to a Brookfield Asset Management affiliate for $2.5 billion.
- American Tower increased its revenue from $4.1 billion in FY 2014 to $11.1 billion in FY 2023 with a compound annual growth rate of 11.7%.
American Tower Corp. (AMT) is a real estate investment trust that owns, operates, and develops broadcast communications infrastructure across the world. Founded in 1995, American Tower is now an $80 billion (by market cap) real estate infrastructure monster that employs more than 6,000 people.
The company's main tower portfolio includes approximately 225,000 communications sites, with more than 40,000 in the US and roughly 180,000 internationally. American Tower also operates a portfolio of 28 data centers across eight different markets in the US....
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American Tower: A Better-Than-Average REIT With Below-Average Valuation