American Tower Posts Solid 3Q Growth on Consistent U.S. Activity and International Expansion
American Tower remains largely on track to hit our full-year expectations. The firm posted 22% revenue growth in the third quarter on continued solid expansion in revenue per tower, a strengthening Brazilian real, and the Viom acquisition. American Tower also announced that it is placing its German towers into a 51%-owned joint venture with Dutch pension fund manager PGGM. The JV moves the firm’s only European assets, which generate 1% of leasing revenue, into a structure that it hopes will fost...American Tower is a holding company. Through its subsidiaries, the company is a real estate investment trusts and an independent owner, operator and developer of multitenant communications real estate. The company's primary business is the leasing of space on communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities and tenants in a number of other industries. The company also provides tower-related services, including site acquisition, zoning and permitting and structural analysis, which primarily support the company's site leasing business, including the addition of new tenants and equipment on its sites.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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