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SBA & American Tower Set Dates to Announce 3rd Quarter Earnings

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SBA Communications and American Tower Corporation announced today that they will be announcing their 3rd quarter earnings within the next few weeks. SBA will release their results on Monday, November 4th after the market closes and they will host a conference call on Tuesday, November 5that 10:00am to discuss the results. SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central and South America. By “Building Better Wireless”, SBA generates revenue from two primary businesses – site leasing and site development services. SBA’s primary focus is the leasing of antenna space on its multi- tenant towers to a variety of wireless service providers under long-term lease contracts.

American Tower will announce their 3rdquarter results at 7:00am on Wednesday, October 30, 2013. Their conference call will be held at 8:30am that same Wednesday to discuss the results. American Tower is a leading independent owner, operator and developer of wireless and broadcast communications real estate. American Tower currently owns and operates over 61,000 communications sites in the United States, Brazil, Chile, Colombia, Costa Rica, Germany, Ghana, India, Mexico, Panama, Peru, South Africa and Uganda. 
October 16, 2013 |

AMT Keeps “Outperform Rating”, CEO Sells 100,000 Shares of Company Stock

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Yesterday, Deutsche Bank reiterated their “outperform” rating for American Tower Corporation (AMT). This means the analysts believe that the American Tower Stock is going to do better than the market return.
Before Deutsche Bank released their rating, CEO James Taiclet Jr. sold 100,000 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $72.73, for a total value of $7,273,000.00. Following the completion of the sale, Taiclet now directly owns 100,041 shares in the company, valued at approximately $7,275,982. You can view the form filed with the Securities and Exchange Commission here.
American Tower’s 52-week high is $85.26 and their 52-week low is $67.89. The AMT stock closed at $74.64 yesterday. Analysts at Nomura upgraded American Tower’s rating from “neutral” to “buy” back on September 16th; whereas the analysts at Maquarie boosted the price target from $84 to $88 on September 17th, giving American Tower an “outperform” rating.

American Tower released their 2013 Q2 earnings on July 31, 2013. They reported a core growth of 18.1% with a total rental and management revenue growth of 15.7%. The company expects the new business and core organic growth trends to remain favorable due to the carriers deploying networks worldwide. 

October 15, 2013 |

Wireless Isn’t Going Anywhere—Invest Now

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Even though it seems that everyone is connected through mobile phones, there are approximately 1 billion people in the world that do not own a cell phone according to Kerry McQueeney of the Daily Mail. This means that wireless services aren’t going anywhere. They will continue to expand until they reach remote parts of the globe connecting people in a way they never thought possible. If you are looking at investment opportunities, you should consider the wireless tower industry.
Communication towers are being constructed all over the world, especially in the United States, in order to meet the demand for mobile communication. So much of our daily life takes place online, which many people now access via their cell phones. Without these communications towers, accessing this technology on the go wouldn’t be possible.
Tim Beyers of the Daily Finance strongly urges you to invest in American tower. “Analysts see American Tower growing its earnings base by about 25% annually over the next five years,” Beyers notes. It was estimated that there were 6.6 billion mobile phone subscribers worldwide at the end of 2012, and this number has been increasing approximately 9% each year. This trend suggests that the need for mobile broadband and communications is only going to increase. More and more devices, like tablets, are being connected to the 3G and 4G mobile networks in order to access the Internet anytime, anywhere.
“I’m not expecting a let-up anytime soon. Why? There’s just too much business online. A June study published by eMarketer put total 2013 e-commerce sales at $1.2 trillion for the full year, with emerging markets such as Indonesia experiencing the fastest growth. The entire Asia-Pacific region is on track to produce $388 billion in online sales, up 23% year over year,” Beyers explained.

With so much information moving online along with the ability to communicate with people across the world, watch TV, listen to music, and purchase almost anything you could ever want the wireless industry isn’t going anywhere for the time being. The top tower companies in the United States will continue to build up their infrastructure in order to keep up with demand. 

October 14, 2013 |

AT&T Expands 4G LTE Into 13 More Markets This Week

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AT&T is on a roll and they don’t plan on slowing down when it comes to upgrading their networks across the country. The company has expanded their 4G LTE network into 13 additional markets this week in order to bring their customers the fastest and most reliable mobile technology they can provide. AT&T’s 4G LTE technology is now available in:
  • Mt. Pleasant, MI
  • Dublin, GA
  • Lake Charles, LA
  • Picayune, MS
  • Selma, AL
  • Putnam and Green Counties of Atlanta, GA
  • Brenham, TX
  • Cordele, GA
  • Wright and Carver Counties of Minneapolis, MN
  • Vero Beach, FL
  • Brookhaven, MS
  • Natchez, MS
  • Port Angeles, WA

“To support the growing demand for mobile broadband, AT&T invested more than $1.8 billion in itsWashington network during the past three years, and made more than 1,250 wireless network upgrades in the state last year alone,” said Bob Bass, Washington President, AT&T. As a result, we turned on 4G LTE throughout the state during the past year and are now pleased to include Port Angeles.  Our 4G LTE network will help give our customers more data and faster service on state-of-the-art devices.”

This launch is part of AT&T’s Project Velocity IP (VIP), a three-year investment plan announced last fall to expand and enhance its IP broadband networks. Through this investment, AT&T is supporting its customers’ growing desire for high-speed Internet access and new mobile, app and cloud-based services.

October 2, 2013 |

American Tower to Participate at ISI 2013 Real Estate Conference

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Today American Tower Corporation announced that their CFO, Tom Barlett, will participate in the “Specialty REITs” panel discussion at the ISI 2013 Real Estate Conference in New York, New York this Thursday, October 3rd.

American Tower is a leading independent owner, operator and developer of wireless and broadcast communications real estate. American Tower currently owns and operates over 56,000 communications sites in the United States, Brazil, Chile, Colombia, Germany, Ghana, India, Mexico,Peru, South Africa and Uganda. 

October 1, 2013 |

American Tower Corporation Declares Quarterly Distribution

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American Tower Corporation (NYSE: AMT) announced that its board of directors has declared its quarterly cash distribution of $0.28 per share. The distribution will be paid on October 7, 2013 to stockholders who are on record at the close of business on September 23, 2013.

American Tower is a leading independent owner, operator and developer of wireless and broadcast communications real estate. American Tower currently owns and operates over 56,000 communications sites in the United States, Brazil, Chile, Colombia, Germany, Ghana, India, Mexico, Peru, South Africa and Uganda.

September 13, 2013 |

American Tower to Present at the 2013 UBS Best of Americas Conference

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This morning American Tower announced that its Vice President of Investor Relations and Capital Markets, Leah Stearns, will be presenting at the 2013 UBS Best of Americas Conference in London on Thursday, September 12, 2013 at 2:50p, BST (9:50am EST).
This conference is a two day conference brings together CEOs and CFOs from an elite group of US and Canadian companies, across all industries, which our sales team believes are compelling investments. The live audio webcast link will be available on the Company’s website, www.americantower.com.

American Tower is a leading independent owner, operator and developer of wireless and broadcast communications real estate. American Tower currently owns and operates over 56,000 communications sites in the United States, Brazil, Chile, Colombia, Germany, Ghana, India, Mexico, Peru, South Africa and Uganda.

September 11, 2013 |

Acquiring GTP Isn’t The End of The Road For American Tower

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After American Tower announced their acquisition of Global Tower Partners (GTP), they made it clear that they are still on the lookout for more purchases. “This is a significant strategic milestone for American Tower,” Chairman and CEO Jim Taiclet said regarding M&A, “but it’s definitely not the end of the road.”
 
By acquiring GTP, American Tower will add 5,400 domestic towers to their portfolio. Below you’ll find an overview of the GTP Portfolio.:
GTP Tower Portfolio
1/3rd of sites in Top 50 BTA’s
2/3rd of sites in Top 100 BTA’s
Average tenancy of ~2.0 per site
63% of total revenue from sites on land that is owned or on long-term leases with 20+ years remaining
GTP Financial Highlights
2014E Revenue of $345m
2014E Gross Margin of $270m (78% of revenue)

September 11, 2013 |

American Tower Agrees To Acquire Global Tower Partners for $4.8B

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Today American Tower Corporation announced that they have entered into an agreement to acquire 100% of the outstanding common membership interest of MIP Tower Holdings, LLC, which is a private real estate investment trust and the parent company of Global Tower Partners. The purchase price was approximately $.4.8 billion. The purchase price is expected to be paid with approximately $3.3 billion in cash and approximately $1.5 billion of existing indebtness.
GTP owns and operates approximately 5,400 domestic towers, 800 domestic property interests under third-party communications sites, and has management rights to over 9,000 domestic sites, which are primarily rooftop assets. In addition, GTP owns 500 communications sites in Costa Rica.
Jim Taiclet, Chairman, President and Chief Executive Officer of American Tower, said: “GTP has constructed and acquired an outstanding U.S. portfolio of tower, rooftop and land assets, which is highly complementary to that of American Tower. Moreover, GTP’s management of these assets has been excellent, as confirmed through our rigorous due diligence process. GTP’s towers boast a high quality customer base, a strong position with respect to ground ownership and lease terms, and additional structural capacity available to facilitate future leasing activity.
With all four major domestic wireless carriers engaged in aggressive multi-year 4G LTE deployments, we believe our acquisition of GTP solidifies our path to achieving our strategic goals related to growing our AFFO over the next five years.”
American Tower Corporation expects to close this transaction by the fourth quarter of 2013. The company believes that by acquiring high quality assets with strong existing cash flows there will be significant opportunity for future growth. The strong leasing momentum is expected to continue at a steady pace due to the data demand growth and the 4G LTE deployments.

                                                                                                                                           
September 6, 2013 |

S&P Upgrades Ratings Three Wireless-Tower Operators

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Standard& Poor’s, a credit rating company, announced today that they completed their CreditWatch review or three U.S. wireless tower operators: American Tower Corporation, Crown Castle International Inc., and SBA Communications Inc. A credit rating is Standard & Poor’s opinion on the general creditworthiness of an obligor, or the creditworthiness of an obligor with respect to a particular debt security or other financial obligation. 
Here is the overview of the review from S&P:
  • We have raised the corporate credit rating and senior unsecured debt rating on American Tower Corp. to ‘BBB-‘ from ‘BB+’ and removed the ratings from CreditWatch positive.
  • We have raised the corporate credit rating on Crown Castle International Corp. to ‘BB-‘ from ‘B+’ and raised all other ratings by one notch. We removed the ratings from CreditWatch positive.
  • We have raised the corporate credit rating on SBA Communications Corp. to ‘BB-‘ from B+’ and raised all other ratings by one notch. We removed the ratings from CreditWatch positive.
  • The stable outlook on all three entities reflects the predictability and stability of their tower leasing businesses, which should continue to support current ratings over the next few years.

S&P believes that the outlooks are stable. “As part of our sector review of wireless tower operators, we have revised our assessment of the business risk profiles on each of these companies to ‘excellent’ from ‘strong’ based on key fundamentals that have prevailed over the past several years,” said Standard & Poor’s credit analyst Catherine
Cosentino. They include:
  • Very healthy leasing gross profit and overall reported EBITDA margins of at least 70% and 60%, respectively;
  • Low volatility and cyclicality of the business, leading to high predictability of cash flows;
  • Long-term contracts and high renewal rates with large telecom carrier customers; and
  • Very high barriers to entry, especially in the U.S. market but also in most of the company’s growing non-U.S. markets.


August 29, 2013 |
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