Streetbeat News

AMT

American Tower Corporation

https://www.americantower.com

Industry

REIT - Specialty

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 approximately 219,000 communications sites. For more information about American Tower, please visit the "Earnings Materials" and "Investor Presentations" sections of our investor relations website at www.americantower.com.

Open

195.00

Mkt cap

92B

Volume

2.6M

High

196.73

P/E Ratio

47.34

52-wk high

243.56

Low

193.75

Div yield

0.03

52-wk low

170.46

American Tower (NYSE:AMT) has delivered an average annual return of 16.03% over the past 20 years, outperforming the market by 8.53% annually. A $100 investment in AMT 20 years ago would be worth $1,942.48 today. The company's current market capitalization stands at $95.17 billion. The key takeaway is the significant impact of compounded returns on investment growth over time.

Portfolio Pulse from Benzinga Insights

December 08, 2023 | 7:01 pm

The U.S. housing market in October 2023 showed mixed signals with a 5.6% decrease in new single-family home sales from September, but a 17.7% increase year-over-year. Median sales prices stood at $409,300, and inventory at 439,000. Building permits rose by 1.8% from the previous month. Real estate stocks had varied responses, with the Real Estate Select Sector SPDR Fund (XLRE) up by 0.4% and the SPDR S&P Homebuilders ETF (XHB) down by 0.3%. Crown Castle Inc. (CCI), SBA Communications Corporation (SBAC), and American Tower Corporation (AMT) saw share increases.

Portfolio Pulse from Piero Cingari

November 27, 2023 | 5:04 pm

American Tower (NYSE:AMT) has seen a 24.32% increase in short interest since its last report, with 5.55 million shares sold short, representing 1.38% of its float. It would take about 2.14 days to cover these short positions based on average trading volume. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Compared to its peers, AMT has a lower short interest as a percentage of float, with the peer group average at 4.55%.

Portfolio Pulse from Benzinga Insights

November 23, 2023 | 6:15 pm

U.S. mortgage applications have increased by 3%, the largest weekly rise in two months, coinciding with a drop in the average contract interest rate for 30-year fixed-rate mortgages to 7.41%. The decline in mortgage rates is attributed to a reduction in U.S. bond yields, which also saw the 30-year Treasury bond yield fall to 4.53%. The iShares 20+ Year Treasury Bond ETF (TLT) has seen a 10% rally over the past month. Morgan Stanley predicts a 3% drop in home prices by the end of 2024 due to improving affordability. Real estate stocks and ETFs like XLRE, PLD, AMT, CSGP, and REM, as well as companies like NREF, BRSP, and ORC, have shown positive market reactions following the news.

Portfolio Pulse from Piero Cingari

November 22, 2023 | 5:04 pm

American Tower (NYSE:AMT) has delivered an average annual return of 15.34% over the past 20 years, outperforming the market by 7.83% annually. A $100 investment in AMT 20 years ago would be worth $1,737.58 today. The company's current market capitalization stands at $92.18 billion.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 7:30 pm

On CNBC's 'Halftime Report Final Trades,' analysts recommended NXP Semiconductors (NXPI), Enterprise Products Partners (EPD), American Tower (AMT), and Expedia Group (EXPE). NXPI reported better-than-expected Q3 results and guidance, EPD had weaker Q3 earnings, AMT showed a 5.5% revenue growth YOY, and EXPE reported strong Q3 results with a new $5 billion share repurchase plan. All stocks saw positive price action, with NXPI up 3%, EPD up 0.1%, AMT up 0.9%, and EXPE up 6.3%.

Portfolio Pulse from Lisa Levin

November 16, 2023 | 2:38 pm

Backblaze, Inc. (NASDAQ:BLZE) is leveraging CoreSite's colocation and connectivity solutions to expand its cloud storage services in the eastern U.S. data region. CoreSite, a subsidiary of American Tower Corporation (NYSE:AMT), provides Backblaze with geographic diversity and an exabyte of capacity to support growing customer needs. The partnership also allows Backblaze customers to replicate their data from hyperscale cloud providers, including AWS and its Amazon S3 platform, to the Backblaze platform without egress fees.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 1:13 pm

JP Morgan analyst Philip Cusick maintains an Overweight rating on American Tower (NYSE:AMT) and raises the price target from $218 to $236.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 7:57 pm

American Tower (NYSE:AMT) has outperformed the market over the past 15 years, producing an average annual return of 13.47%. If an investor had bought $1000 of AMT stock 15 years ago, it would be worth $6,312.14 today.

Portfolio Pulse from Benzinga Insights

November 06, 2023 | 6:00 pm

Shares of REITs are trading higher amid a decline in US Treasury yields, which has lifted dividend-paying stocks in Friday's session.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 7:36 pm

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