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

207.77

Mkt cap

99B

Volume

3.8M

High

211.19

P/E Ratio

30.48

52-wk high

243.56

Low

205.98

Div yield

0.03

52-wk low

170.46

BMO Capital analyst Ari Klein maintains an Outperform rating on American Tower (NYSE:AMT) but lowers the price target from $228 to $220.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 4:52 pm

Raymond James analyst Ric Prentiss upgraded American Tower (NYSE:AMT) from Outperform to Strong Buy and increased the price target from $226 to $248.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 10:17 am

American Tower Corp (NYSE: AMT) reported a 2.4% year-on-year increase in Q1 2024 revenue to $2.834 billion, surpassing estimates. AFFO per share rose 9.8% to $2.79, beating consensus. The company saw growth in property revenue, tenant billings, and organic tenant billings, alongside a 47.5% increase in free cash flow. With $2.5 billion in cash, and positive trends across various markets, American Tower raised its FY24 outlook. AMT shares fell 0.55% to $174.02. AMT is also accessible through SRVR and JPRE ETFs.

Portfolio Pulse from Anusuya Lahiri

April 30, 2024 | 3:38 pm

American Tower Corporation (AMT) shares are trading higher after the company reported better-than-expected financial results for the first quarter.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:09 am

American Tower Corporation (AMT) forecasts its FY24 Adjusted Funds From Operations (AFFO) to be between $10.30 and $10.53.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:02 am

American Tower (NYSE:AMT) reported Q1 2024 earnings of $2.79 per share, surpassing the consensus estimate of $2.54 by 9.84%. Quarterly sales reached $2.834 billion, exceeding expectations by 1.39% and marking a 2.42% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:01 am

The article highlights the top 3 oversold real estate stocks, identified by their low RSI values, suggesting potential for gains. American Tower Corporation (AMT), Zillow Group, Inc. (ZG), and Opendoor Technologies Inc. (OPEN) are mentioned as having RSI values near or below 30, indicating they are oversold. Recent analyst actions and price movements for each stock are also detailed.

Portfolio Pulse from Avi Kapoor

April 16, 2024 | 11:46 am

Morgan Stanley analyst Simon Flannery has maintained an Equal-Weight rating on American Tower (NYSE:AMT) and increased the price target from $183 to $196.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 4:05 pm

American Tower (NYSE:AMT) has delivered an average annual return of 14.0% over the past 20 years, outperforming the market by 6.04% annually. A $100 investment in AMT 20 years ago would now be worth $1,374.15, showcasing the impact of compounded returns on investment growth. American Tower currently has a market capitalization of $83.42 billion.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 8:30 pm

Inflation data for March 2024 exceeded expectations, causing stocks to sink and yields to spike as the possibility of Fed rate cuts is delayed. The iShares 20+ Year Treasury Bond ETF (TLT) and the Invesco DB USD Index Bullish Fund ETF (UUP) saw significant movements, with TLT dropping 1.6% and UUP rising 1.1%. Major indices and ETFs like SPY, DIA, and QQQ also experienced declines. Real estate stocks, including EXR, SBAC, PSA, and AMT, were among the hardest hit due to their sensitivity to interest rates. Conversely, Nvidia saw gains after a price target increase by Morgan Stanley.

Portfolio Pulse from Piero Cingari

April 10, 2024 | 5:12 pm

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