Professional
Added to YB: 2024-04-26
Pitch date: 2024-03-31
AMT [bullish]
American Tower Corporation
+1.06%
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
$85.3B
Pitch Price
$181.85
Price Target
N/A
Dividend
3.91%
EV/EBITDA
15.94
P/E
N/A
EV/Sales
N/A
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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