This Fast-Growing Dividend Stock Has Lofty International Growth Ambitions
American Tower (NYSE: AMT) has grown into one of the world's biggest real estate investment trusts (REITs). It has built the largest global portfolio of communication sites through a series of acquisitions and new tower developments. In addition, it recently expanded into the U.S. data center segment, further growing its infrastructure platform.
The infrastructure REIT made clear that its growth days are far from over. That was evident from CEO Tom Bartlett's comments on the second-quarter conference call.
Bartlett focused his second-quarter commentary on American Tower's international business. He noted that the company started expanding outside the U.S. over two decades ago. Today, the REIT's international portfolio comprises over 170,000 tower sites (more than three-quarters of its 222,000-site global portfolio). While that's the majority of its portfolio, the company's international towers contribute 45% of its property revenue and 36% of its property segment operating profit. That leaves lots of upside potential as it increases rents and adds additional tenants to each tower.
Source Fool.com
