American Tower

“American Tower made an assumption that the real for 2026 is going to be 5.5 and you guys made an assumption it's going to be 5.2 and it's trading at 5.13.”

An analyst contrasts peer tower operator American Tower's more conservative 2026 Brazilian real FX assumption (5.5) with SBA's (5.2).

“the reason that we made an investment in AST SpaceMobile was to get a Board seat so that we would have a front row seat to this technology as it unfolds.”

American Tower holds a board-seat investment in AST SpaceMobile to monitor satellite-connectivity developments; it later sold half the stake at a gain.

“we still have an ongoing arbitration with AT&T Mexico.”

American Tower is in ongoing arbitration with carrier customer AT&T Mexico, an outcome that could affect Latin America organic growth.

“T-Mobile completing the transaction of U.S. Cellular.”

U.S. Cellular being absorbed by T-Mobile removes a tenant and contributes to churn pressure on American Tower's U.S. growth.

“T-Mobile completing the transaction of U.S. Cellular.”

T-Mobile's acquisition of U.S. Cellular is a carrier-consolidation event affecting American Tower's U.S. leasing outlook.

“we have a strong portfolio anchored by Telefonica that's largely insulated from some of the potential consolidation that's out there.”

American Tower's European tower portfolio is anchored by carrier customer Telefonica and insulated from regional consolidation risk.

“Like Crown Castle mentioned that they're owed $3.5 billion when they terminated the agreement with DISH.”

An analyst compares American Tower's DISH exposure to peer Crown Castle, which disclosed being owed $3.5 billion after terminating its DISH agreement.

“As you saw in our 8-K form from January, DISH has defaulted on its payment obligations. We continue to pursue legal action to recover the value of its remaining lease obligations.”

Tenant DISH defaulted on its lease payments, forcing American Tower to remove ~$200M of annual revenue and pursue litigation.

“We have a firsthand view through our board representation at AST SpaceMobile and regularly evaluate satellite capabilities with engineers and technology consultants.”

American Tower holds board representation at satellite operator AST SpaceMobile and views satellite networks as complementary rather than a threat to towers.

“We did not expect T-Mobile to buy UScellular”

American Tower flagged T-Mobile's acquisition of UScellular as a consolidation event affecting future churn assumptions in its U.S. leasing guidance.

“you'll see that we did receive a letter from DISH saying that they believe they're excused from making payments under the MLA based on the spectrum sale. We disagree with that. And in fact, we filed suit.”

EchoStar's DISH unit claims it is excused from tower lease payments after its spectrum sale; American Tower filed suit to enforce the contract, a negative read-through on EchoStar's network commitments.

“And so we're looking forward to working with AT&T and helping them in what they decide to do next year.”

American Tower expects AT&T to deploy newly acquired spectrum, supporting future U.S. tower leasing and densification demand.

“primarily related to our previously disclosed legal dispute with AT&T Mexico over the calculation of tower rent.”

American Tower is in arbitration with AT&T Mexico over tower-rent calculation, prompting revenue reserves; a negative overhang on the AT&T Mexico leasing relationship.