Last €73.92 EUR
Change Today +0.485 / 0.66%
Volume 0.0
TWRA On Other Exchanges
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As of 3:15 AM 09/18/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

116 Huntington Avenue

11th Floor

Boston, MA 02116

United States

Phone: 617-375-7500

Fax: 617-375-7575

American Tower Corporation, a real estate investment trust, through its subsidiaries and joint ventures, operates as a wireless and broadcast communications infrastructure company that owns, operates, and develops communications sites. The company’s primary business includes leasing antenna space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities, and tenants in various other industries. It also offers tower-related services domestically, including site acquisition, zoning and permitting services, and structural analysis services, which primarily support its site leasing business and the addition of new tenants and equipment on its sites. The company’s communications site portfolio includes wireless and broadcast communications towers and distributed antenna system (DAS) networks, which are collocation solutions to support in-building and outdoor wireless coverage. Its portfolio consists of towers that it owns and towers that it operates pursuant to long-term lease arrangements, including as of December 31, 2011, approximately 21,320 towers domestically and approximately 23,900 towers internationally. In addition to the communications sites in its portfolio, the company manages rooftop and tower sites for property owners under various contractual arrangements. It also holds property interests that it leases to communications service providers and third-party tower operators under approximately 1,810 communications sites. The company’s principal domestic operating subsidiaries include American Towers LLC and SpectraSite Communications, LLC. It conducts its international operations through its subsidiary, American Tower International, Inc., which in turn conducts operations through its various international operating subsidiaries and joint ventures. Products and Services Rental and Management Operations The company’s tenants lease space on its communications site infrastructure, where they install and maintain their individual communications network equipment. Its tenant leases are non-cancellable and have annual rent escalations. Its primary costs include ground rent (which is primarily fixed, with annual cost escalations), property taxes, and repairs and maintenance. In majority of its international markets, a portion of its operating costs is passed through to its tenants, such as ground rent or fuel costs. The company’s Domestic Rental and Management segment comprises its nationwide network of communications sites that enables the company to address the needs of national, regional, local, and emerging communications service providers in the United States. This segment also includes property interests that it leases to communications service providers and third-party tower operators. The company’s International Rental and Management segment, which comprises communications sites in Brazil, Chile, Colombia, Ghana, India, Mexico, Peru, and South Africa, provides a source of diversification and growth. The company’s Rental and Management operations include the operation of wireless and broadcast communications towers and DAS networks, rooftop management, and the leasing of property interests. Communications Towers The company owns and operates communications towers in the United States, Brazil, Chile, Colombia, Ghana, India, Mexico, Peru, and South Africa. It leases space on its communications towers to tenants providing a range of communications services, including personal communications services, cellular, broadcasting, improved specialized mobile radio, WiMAX, paging, and fixed microwave. The company’s domestic tenants include AT&T Mobility, Sprint Nextel, Verizon Wireless, and T-Mobile USA. Its international tenants include Iusacell (Mexico), Nextel International (through its operating subsidiaries in Brazil, Chile, and Mexico), Telefónica (through its operating subsidiaries in Brazil, Chile, Colombia, Mexico, and Peru), MTN Group Limited (in Ghana and South Africa), and Vodafone (in India, Ghana, and South Africa). DAS Networks, Rooftop Management, and Propert

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Valuation TWRA Industry Range
Price/Earnings 53.5x
Price/Sales 10.0x
Price/Book 8.6x
Price/Cash Flow 23.1x
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