Mary Claire Flynne ‘25 pitched American Tower Corporation (NYSE: AMT) on November 4, 2024. American Tower is a leading independent owner, operator, and developer of communications real estate. The company has nearly 42,000 towers in the U.S., a global portfolio of over 224,000 towers, and communications sites in 25 countries. In addition to their wireless and broadcast centers, American Tower’s assets and solutions include rooftops, Distributed Antenna Systems (DAS), data centers, backup power, and services that speed network deployment. Their data center subsidiary, CoreSite, offers secure, reliable, and scalable environments for enterprises, cloud providers, and network operators to house their critical IT infrastructure.
Mary Claire’s investment thesis highlighted American Tower’s global leadership in the market, their diversified portfolio of assets and solutions, and the vigorous demand for 5G and wireless infrastructure. Going forward, the company plans to concentrate on markets with higher growth potential. With the divestiture in their India business, the company intends to focus on opportunities that are more aligned with their long-term objectives such as the ones they see in Africa where connectivity needs are increasing as telecom providers expand coverage.
SMIF voted to purchase approximately $44,000 of AMT, funded through the partial sale of their IRM holding.