Professional
Added to YB: 2024-04-26
Pitch date: 2024-03-31
AMT [bullish]
American Tower Corporation
-9.96%
current return
Author Info
No bio for this author
Company Info
American Tower Corporation is one of the largest global real estate investment trusts. It is a leading independent owner, operator and developer of multitenant communications real estate.
Market Cap
$77.4B
Pitch Price
$180.04
Price Target
N/A
Dividend
4.31%
EV/EBITDA
15.01
P/E
26.79
EV/Sales
11.78
Sector
Specialized REITs
Category
turnaround
Baron Real Estate Fund Added On Position: American Tower Corporation
AMT: Shares lag in Q1 '24 on India biz sale uncertainty, lower carrier spending & high rates. Acquiring more as believe '23 was trough for earnings growth, financing headwinds & valuation. Optimistic due to accelerating growth, stable cash flows from core markets, secular demand drivers like 5G, edge computing & connected devices needing more bandwidth, and strong growth & optionality in CoreSite data center biz.
Read full article (1 min)