AMT American Tower Corporation

American Tower Corporation to Present at the 45th Annual J.P. Morgan Global Technology, Media and Telecom Conference

American Tower Corporation (NYSE: AMT) today announced that Jim Taiclet, its Chairman, President and Chief Executive Officer, is scheduled to present at the 45th annual J.P. Morgan Global Technology, Media and Telecom Conference in Boston, Massachusetts, on Monday, May 22, 2017 at 8:40 a.m. ET. The live audio webcast link will be available on the Company's website.

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 over 147,000 communications sites. For more information about American Tower, please visit www.americantower.com.

EN
15/05/2017

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Reports on American Tower Corporation

David Barden
  • David Barden

American Tower 4Q25 Results & Model Update

We are updating our model for AMT (Buy, PT $203) following its 4Q25 results that were generally ahead on most metrics.

David Barden
  • David Barden

That’s a wrap! Takeaways from Metro Connect day 2

We just wrapped up day 2 at Metro Connect where we had meetings with a number of additional fiber operators. In this short note, we share our incremental takeaways from conversations at the event.

David Barden
  • David Barden

American Tower 4Q25 Quick Take: Consensus couldn’t get DISH right for ...

AMT (Buy, PT $203) reported 4Q25 results. We continue to view AMT as the best-growing, least-levered, best-positioned stock in the group. 4Q was generally ahead on all metrics. Guidance is bit of a mess with consensus largely having included DISH while there are 2 larger than anticipated factors moving in opposite directions in the form of FX (+) and straight line (negative, but non-cash). This note is our instant read on the result vs. both us and consensus.

David Barden
  • David Barden

Not unexpectedly, SATS defaults on AMT leases – We quantify the readth...

AMT (Buy, PT $203), after the close today, shared that SATS has defaulted on its tower lease agreement payments. This was unsurprising following a similar revelation from CCI (Neutral, PT $93) on 1/12/26 (see our note). AMT says this action will have no impact on 2025 results. AMT did not mention the value of the remaining payments, but we assume it is similar to the ~$3.5bn (undiscounted) CCI cited.

David Barden
  • David Barden

Towers & interest rates, the biggest moving parts

Given recent news around future interest rate actions by the Fed, we performed a sensitivity analysis to better understand potential AFFO per share implications for each of the three major tower companies. Based on a detailed, tranche by tranche debt analysis, SBAC (Neutral, PT $212) has the largest near-term exposure given its short-term refinancing needs. CCI (Neutral, PT $93) has limited exposure given that we expect its debt reduction using proceeds from its small cells and fiber business sa...

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