Professional
Added to YB: 2024-04-26
Pitch date: 2024-03-31
AMT [bullish]
American Tower Corporation
+0.61%
current return
Author Info
No bio for this author
Company Info
American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 149,000 communications sites and a highly interconnected footprint of U.
Market Cap
$90.4B
Pitch Price
$183.67
Price Target
N/A
Dividend
3.52%
EV/EBITDA
17.10
P/E
30.80
EV/Sales
13.42
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.
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