American Tower

AMT’s recent actions reflect discipline: it exited India in September 2024 for about 2.5 billion dollars and directed proceeds to debt reduction; it also sold Australia/New Zealand sites and completed the sale of a South Africa fiber subsidiary, simplifying the portfolio and lifting earnings quality.

Within data centers, AMT deepened its Stonepeak partnership to fund CoreSite growth, formed a JV to build a new Denver facility, and in Q2’25 bought its DE1 data‑center building to expand capacity. 2025 capex guidance of roughly 1.6 to 1.7 billion dollars includes around 600 million dollars for CoreSite development and up to 2,450 new tower builds globally.

Stock‑based comp is modest relative to cash generation (about 101 million dollars in 1H’25). The dividend policy targets steady per‑share growth with flexibility to prioritize deleveraging.