American Tower

American Tower Corporation, a global Real Estate Investment Trust (REIT), is an independent owner, operator, and developer of wireless and broadcast communications infrastructure. The company's primary business is leasing space on its multi-tenant communications sites to wireless service providers, broadcasters, and other network operators.

American Tower's portfolio includes over 220,000 communications sites globally. The company's business model is based on long-term leases with its tenants, which typically have initial terms of 5-10 years with multiple renewal terms. This provides a stable and recurring revenue stream. The company makes money by charging rent to tenants for the use of its tower space. The rent is determined by the amount of equipment the tenant has on the tower and the location of the tower.

The company serves a diverse range of clients, including major wireless carriers like AT&T, T-Mobile, and Verizon, as well as smaller carriers, broadcasters, and government agencies. American Tower operates in a market with high barriers to entry, as it is difficult and expensive to build new communications towers. The company's global presence and large portfolio of towers give it a significant competitive advantage.

Keywords: real estate investment trust, communications infrastructure, wireless communications, broadcast communications, tower leasing, multi-tenant communications sites, long-term leases, recurring revenue, network operators, global portfolio