Added to YB: 2026-07-01
Pitch date: 2026-06-28
AMT [neutral]
American Tower Corporation
-0.43%
current return
Author Info
No bio for this author
Company Info
American Tower Corporation one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 148,000 communications sites and a highly interconnected footprint of U.
Market Cap
$78.8B
Pitch Price
$174.94
Price Target
N/A
Dividend
4.23%
EV/EBITDA
15.00
P/E
23.26
EV/Sales
11.75
Sector
Specialized REITs
Category
N/A
American Tower: Building Essential Wireless Infrastructure
AMT (pass): Widest-moat tower REIT, 150k towers, 80%+ gross margins on multi-tenant towers, 2% churn, $54B non-cancellable leases, 3% price escalators, 8-11% ROIC. But 29x P/E, $37B debt, AFFO -12% since 2021, dividend funded by debt, growth decelerating. Risks: telecom consolidation, satellite internet. Base 60% (5% rev growth, 21x EV/EBITDA), bear 25%, bull 15%. Passing at current price.
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