American Tower Corp (NYSE:AMT)
$ 184.71 0.33 (0.18%) Market Cap: 86.31 Bil Enterprise Value: 135.50 Bil PE Ratio: 78.27 PB Ratio: 23.71 GF Score: 87/100
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American Tower Corp at RBC Capital Markets Global Communications Infrastructure Conference - Panel Discussion Transcript

May 24, 2022 / 09:20PM GMT
Release Date Price: $258.52 (+3.65%)
Jonathan Atkin
RBC Capital Markets, Research Division - MD & Senior Analyst

Welcome, everybody. I'm Jon Atkin. I cover the data center and tower sectors at RBC, and pleased to have immediately to my left, Dave Ferdman, who is the CEO of CyrusOne; and Steve Vondran, EVP and President of U.S. Towers at American Tower, who -- under whose direction CoreSite is now run. I'd like to welcome both of you and start with a couple of questions for Steve.Maybe really big picture kind of start off. CoreSite was a company that was kind of driven by FFO per share growth, and most tower companies in the U.S. are driven by AFFO per share. And so how does that affect, in your mind, kind of capital allocation and management incentives within CoreSite?

Steven O. Vondran
American Tower Corporation - Executive VP & President of US Tower Division

Sure. Well, as we've said, we plan to run CoreSite as a stand-alone business within the U.S. Tower division. And when we underwrote the acquisition, of course, we underwrote it based on their current business model and their plan.

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