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American Tower Corporation (AMT)

- NYSE
  • Jul. 17, 2013, 10:35 AM
    Muddy Waters releases its rumored report on American Tower (AMT -2.4%), declaring the cell tower owner a Strong Sell and setting a $44.57 PT. The firm accuses AMT of overstating the price it paid for 666 Brazilian towers by $250M (citing sources and financial documents), makes note of insider selling and perceived corporate governance issues, and deems the rise of carrier Wi-Fi and small cell networks a threat to tower growth. Also, AMT's international ops are accused of overvaluing assets, and of overpaying for towers in exchange for excess rent payments (an arrangement deemed a de facto loan). CCI -1.4%. SBAC -0.8%. (slides - .ppt)
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  • Jul. 17, 2013, 9:14 AM
    American Tower (AMT) -2.6% amidst rumors Muddy Waters is set to issue a negative report about the company. Rival Crown Castle (CCI) -2.3%.
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  • Jul. 15, 2013, 10:00 AM
    A roundup of tech analyst ratings changes: 1) Qualcomm (QCOM -1.6%) has been cut to Neutral by Lazard. 2) NetApp (NTAP +2.6%) has been upgraded to Overweight by Morgan Stanley. 3) ExOne (XONE -5.8%) has been cut to Hold by BB&T. 4) AppliedMicro (AMCC +13.2%) has been upgraded to Strong Buy by Raymond James. 5) Portugal Telecom (PT -2.8%) has been cut to Underperform by BNP Paribas. 6) eGain (EGAN +2.8%) has been started at Outperform by Northland. 7) Himax (HIMX +2.1%) has been started at Buy by Craig-Hallum. 8) American Tower (AMT -1.4%) has been cut to Neutral by ISI. 9) QLogic (QLGC -3.8%) has been cut to Underweight by Morgan Stanley. 10) Linear (LLTC -1%) has been cut to Neutral by Credit Suisse.
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  • May 28, 2013, 6:51 PM
    Talks with Cisco (CSCO) customers and rivals at the CTIA trade show reinforced Pac Crest's view the networking giant's software M&A binge leave it well-positioned to help major carriers "automate, orchestrate and virtualize different physical elements of the network." The firm adds that while overall carrier capex is mixed, "pockets of growth" are being found in the U.S. Cisco managed to see 8% Y/Y carrier order growth in FQ3, a likely sign of share gains. Meanwhile, both Stifel and Pac Crest see SBA (SBAC) as a beneficiary of strong cell tower leasing activity from U.S. carriers. The firms also see small cell deployments giving a lift SBA and its rivals (AMT, CCI). (CSCO acquisitions: I, II, III)
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  • May 21, 2013, 9:50 AM
    American Tower (AMT +0.9%) nears its all-time high of $85.15 after Macquarie upgrades shares to Outperform. AMT now trades at ~23x the company's 2013 adjusted funds from operations (AFFO) guidance of $1.42B-$1.47B.
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  • May 17, 2013, 9:10 AM
    Leap Wireless (LEAP) -2.5% after Barclays starts coverage with an Underweight and $4 PT as part of a broader coverage launch of U.S. telecom service providers. Tower owners SBA (SBAC) and American Tower (AMT) have been started at Overweight, and so has Verizon (VZ). AT&T (T) and T-Mobile USA (TMUS) have been started at Equal Weight.
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  • May 1, 2013, 7:07 AM
    American Tower (AMT): Q1 EPS of $0.43 misses by $0.05. Revenue of $802.7M (+15.2% Y/Y) beats by $7.86M. (PR)
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  • May 1, 2013, 12:05 AM
    Notable earnings before Wednesday’ s open: AB, ADT, AFAM, AFSI, AGN, AH, AMT, ARW, AVA, CCJ, CHK, CLH, CLX, CMCSA, CVH, CVS, DLPH, DVN, ENR, EXAS, EXC,GRMN, GWR, H, HSP, HUM, ICE, IPGP, IQNT, IRM, JRCC, KCG, KFN, MA, MKL, MRK, NVO, PDCE, PKD, POR, PSX, RDC, RDN, SEE, SPW, TLM, TWX, VG, VIAB, VPHM
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  • Apr. 30, 2013, 5:30 PM
    Notable earnings before Wednesday’ s open: AB, ADT, AFAM, AFSI, AGN, AH, AMT, ARW, AVA, CCJ, CHK, CLH, CLX, CMCSA, CVH, CVS, DLPH, DVN, ENR, EXAS, EXC,GRMN, GWR, H, HSP, HUM, ICE, IPGP, IQNT, IRM, JRCC, KCG, KFN, MA, MKL, MRK, NVO, PDCE, PKD, POR, PSX, RDC, RDN, SEE, SPW, TLM, TWX, VG, VIAB, VPHM
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  • Apr. 25, 2013, 3:20 PM
    "We had an excellent first quarter," says Crown Castle (CCI +5.9%) CEO Ben Moreland. More from the company's Q1 report: while revenue came in well ahead of expectations, the bottom line was impacted by a $36M loss related to the retirement of debt (net income was $15M inclusive of that charge). Adjusted EBITDA came in above the high end of guidance and the company raised its Q2 and FY13 EPS guidance to between $0.08-0.22 per share and between $0.35-0.68 per share respectively. Also: Macuarie upgrades the stock to Outperform from Neutral. Other tower stocks trading higher: AMT +3.38% , SBAC +2.45% .
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  • Apr. 22, 2013, 1:49 PM
    Moody's upgrades its outlook for the equity REIT industry to Stable. The sector is "well positioned to handle the fragile economic outlook and the potential for rising interest rates," the ratings agency says, in a new report. Moody's Senior VP notes that REITs have "access to multiple capital sources … at historically low rates that have lengthened their debt maturity profiles," boosted earnings, and increased fixed charge coverage ratios.
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  • Mar. 15, 2013, 7:05 PM
    Morgan Stanley selects 20 stocks for the long term, based on "competitive advantages, business model, pricing power, cost efficiency and growth": AMZN, AMT, BLK, CPN, CP, CVX, COST, EL, GILD, HON, JPM, LTD, MON, NWSA, PM, RPM, SBUX, SYMC, TMO, WMB.
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  • Mar. 14, 2013, 6:01 PM
    AT&T (T) is indeed thinking of selling cell towers (among other assets), a company spokesman tells Bloomberg. However, the evaluation process is said to be in its early stages. Bloomberg points out some other reasons why AT&T may want to raise cash: growing capex, huge stock buybacks, and a hefty dividend (4.9% yield). AT&T had $69.8B in debt on its balance sheet as of Dec. 30. (RBC report)
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  • Mar. 14, 2013, 3:55 PM
    AT&T (T) might sell wireless tower assets for a "mid-$5 billion" or higher price tag, thinks RBC's Jonathan Atkin. Noting T-Mobile USA and other peers have already sold towers to raise cash, Atkin believes Ma Bell could put ~14.5K towers on sales, and sees American Tower (AMT) as the most likely buyer. His comments come amidst multiple reports (I, II) of AT&T eying foreign investments/acquisitions.
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  • Mar. 4, 2013, 9:13 AM
    American Tower (AMT) offers $1.8B in Secured Tower Revenue Securities, with proceeds to be used to pay off other debt and for general corporate purposes. Shares -0.6% premarket. (PR
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  • Feb. 26, 2013, 1:49 PM
    A top-line beat and solid guidance are helping American Tower (AMT +2.1%) outperform following its Q4 report, in spite of an EPS miss. The cell tower owner expects 2013 revenue of $3.16B-$3.21B, in-line with a $3.19B consensus. AFFO is expected to total $1.36B-$1.41B - that represents 15.6% growth at the midpoint - and capex is seen amounting to $550M-$650M vs. $568M in 2012. AMT, which finished 2012 owning 54.K cell sites (22.5K in the U.S.), plans to build 2,250-2,750 more in 2013. (PR) (transcript)
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Company Description
American Tower Corp is an owner, operator and developer of wireless and broadcast communications real estate. The Company's main business is leasing antenna space on multi-tenant communications sites to different providers.