American Tower operates wireless and broadcast communications real estate, including wireless towers, distributed antenna systems, and managed rooftop systems. The company leases multitenant space to wireless service providers and radio and television broadcasters. At the end of 1H24, AMT had about 224,000 towers and small cell systems networks with 19% in the U.S. and Canada; 34% in APAC; 11% in Africa; 14% in Europe; and 21% in Latin America. International tenants and pass-through relationships accounted for about 46% of current property revenues, while data centers accounted for 8%. At the end of 2021, AMT expanded into data centers with the acquisition of CoreSite, a hybrid IT provider with 25 interconnected data centers in the U.S. The REIT currently owns a 72% share of CoreSite. The company has ongoing plans to leverage its U.S. data centers. Top U.S. tenants include T-Mobile, AT&T, and Verizon, with T-Mobile accounting for about 16% of property revenue. The current market cap is $102.5 billion. The shares are a component of the S&P 500.

Stocks have reversed course. After opening higher on the growing view that a Fed rate cut might come next round, stocks have pared gains. At midday, the major indices are all lower, the Dow, Nasdaq, and Russell all more than 1%, possibly on worries over data signaling a weakening economy -- a big rise in weekly jobless claims and a manufacturing indicator hitting an 8-month low.

American Tower owns and operates more than 220,000 cell towers throughout the US, Asia, Latin America, Europe, and Africa. It also owns and/or operates 28 data centers in 10 US markets after acquiring CoreSite. On its towers, the company has a very concentrated customer base, with most revenue in each market being generated by just the top few mobile carriers. The company operates more than 40,000 towers in the US, which accounted for almost half of the company's total revenue in 2023. Outside the US, American Tower operates over 75,000 towers in India, almost 50,000 towers in Latin America (dominated by Brazil), 30,000 towers in Europe, and nearly 25,000 towers in Africa. American Tower operates as a REIT.

American Tower owns and operates more than 220,000 cell towers throughout the US, Asia, Latin America, Europe, and Africa. It also owns and/or operates 28 data centers in 10 US markets after acquiring CoreSite. On its towers, the company has a very concentrated customer base, with most revenue in each market being generated by just the top few mobile carriers. The company operates more than 40,000 towers in the US, which accounted for almost half of the company's total revenue in 2023. Outside the US, American Tower operates over 75,000 towers in India, almost 50,000 towers in Latin America (dominated by Brazil), 30,000 towers in Europe, and nearly 25,000 towers in Africa. American Tower operates as a REIT.