AMT - American Tower Corporation (REIT)

NYSE - NYSE Delayed price. Currency in USD
264.21
-1.18 (-0.44%)
At close: 4:00PM EDT
Stock chart is not supported by your current browser
Previous close265.39
Open268.05
Bid260.01 x 800
Ask264.64 x 900
Day's range262.53 - 268.63
52-week range174.32 - 269.25
Volume1,145,145
Avg. volume2,155,330
Market cap117.126B
Beta (5Y monthly)0.45
PE ratio (TTM)61.73
EPS (TTM)4.28
Earnings date29 Jul 2020 - 03 Aug 2020
Forward dividend & yield4.14 (1.57%)
Ex-dividend date18 Jun 2020
1y target est276.00
  • The Zacks Analyst Blog Highlights: Berkshire Hathaway, Intel, American Tower, NextEra Energy and Booking Holdings
    Zacks

    The Zacks Analyst Blog Highlights: Berkshire Hathaway, Intel, American Tower, NextEra Energy and Booking Holdings

    The Zacks Analyst Blog Highlights: Berkshire Hathaway, Intel, American Tower, NextEra Energy and Booking Holdings

  • Tech-Exposed Real Estate Is Pulling Away From Other Properties
    Bloomberg

    Tech-Exposed Real Estate Is Pulling Away From Other Properties

    (Bloomberg) -- The same trends behind soaring stock prices for Amazon.com Inc. and Zoom Video Communications Inc. are benefiting shares in the companies associated with their real estate.Communication towers and data center stocks -- sometimes referred to as “where the internet lives” -- have seen some of the biggest gains in the S&P 500 so far this year as stay-in-place measures to combat the coronavirus have accelerated the demand for digital services and connectivity.Whereas the pandemic has severely hit many commercial property owners, shares in real estate investment trusts related to technology are outperforming. The combined market value gained by just five of those stocks is almost the same as the amount lost by 30 REITs specializing in malls and shopping centers, according to data compiled by Bloomberg News.“If you’re a real estate investor and your mandate is to own real estate, you’re obviously not doing very well owning offices or owning retail,” Cowen analyst Colby Synesael said in a phone interview.With more people at home, the demands on technology and its infrastructure have been tremendous, whether it’s allowing for online shopping, mobile streaming or working remotely. As a result, certain REITs have emerged as defensive plays for investors, Synesael said.American Tower Corp., Digital Reality Trust Inc., Equinix Inc., Crown Castle International Inc. and SBA Communications Corp. have added roughly $50 billion in total market capitalization this year, and valuations for towers and data centers have never been higher.Data centers, for instance, are trading at a roughly 15% premium to the overall REIT average on a price to estimated adjusted funds from operations basis, according to Berenberg analyst Nate Crossett. Historically they’ve traded at a 7% discount.As a global data center company, Equinix has boasted of its work building out coverage and scale for clients that have gone on to become household names in the work-from-home era including Zoom and Cisco Systems Inc.’s Webex.“Two significant customers of ours is Zoom and Webex -- both of whom obviously saw exceptional increases in their demand as work from home took off,” Chief Executive Officer Charles Meyers said in an interview. “We played a very key role in helping them ramp up their capacity to meet that demand. That was true also in networking cloud providers.”Meyers said it’s difficult to anticipate how much more revenue the company could see over time. In terms of demand, he pointed to recent overall online traffic trends, which surged 25% to 30% over a 30- to 45-day period-- growth that normally would take nine months to a year to achieve.Digital Realty Chief Financial Officer Andy Power said in an interview that the company had seen a pickup in data center demand from clients filling near-term gaps but that longer-term, he was “pleasantly surprised” at how larger enterprises were also taking this moment to plan for the future.“We’re seeing the criticality of our infrastructure playing out front and center while many of our other asset classes [in real estate] are seeing sloping rent,” he said. Even for clients in struggling industries such as travel, the company has seen increased deployments. “Our services are fundamentally mission critical for their businesses. You cannot book an airline ticket or any hotel reservation without the infrastructure we’re essentially providing.”Bloomberg Intelligence analyst Lindsay Dutch said the need for increased connectivity during the pandemic has demonstrated the importance of digital infrastructure, which is a long-term driver for the stocks.“If you think of everyone on their computers, trying to connect to their workplace and do all these Zoom calls and stream Netflix -- that creates more traffic and the need for power,” she said.Before the virus, shares in tech-related REITs had already been rising, catching the attention of investors, Cowen’s Synesael said.For communication towers, he noted a sea change in 2018 when Vanguard Group began adding towers to its investment portfolio, prompting more investors to do the same ahead of the U.S. rollout of 5G spectrum.Unlike data centers, tower stocks aren’t seeing a fundamental change in earnings from the pandemic, Synesael said. However, they are still benefiting from trends Covid-19 has accelerated like mobile data use, which Synesael expects to continue.Despite their relative premium, Berenberg’s Crossett said that on an absolute basis “there’s still plenty of room to run” for data center stocks.“To the extent that there’s a pullback, I would be adding to these names,” he said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • GLPI or AMT: Which Is the Better Value Stock Right Now?
    Zacks

    GLPI or AMT: Which Is the Better Value Stock Right Now?

    GLPI vs. AMT: Which Stock Is the Better Value Option?

  • Why You’re Smart to Buy American Tower
    Motley Fool

    Why You’re Smart to Buy American Tower

    Current hot growth trends include artificial intelligence, the Internet of Things, 5G communications, and telemedicine. American Tower (NYSE: AMT) is a direct proxy to the growth of the 5G industry, as the communication tower operator owns a portfolio of approximately 18,000 communication sites. Here are some reasons why purchasing shares of American Tower looks like a great move.

  • American Tower Corporation to Present at the Credit Suisse 22nd Annual Virtual Communications Conference
    Business Wire

    American Tower Corporation to Present at the Credit Suisse 22nd Annual Virtual Communications Conference

    American Tower Corporation (NYSE: AMT) today announced that Rod Smith, its Executive Vice President, Chief Financial Officer and Treasurer, is scheduled to present at the Credit Suisse 22nd Annual Virtual Communications Conference, on Tuesday, June 16, 2020 at 11:20 a.m. ET. A live audio webcast link for the virtual event will be available on the Company's website.

  • American Tower (AMT) Gains But Lags Market: What You Should Know
    Zacks

    American Tower (AMT) Gains But Lags Market: What You Should Know

    American Tower (AMT) closed at $264.89 in the latest trading session, marking a +1.99% move from the prior day.

  • American Tower Corporation Calls for Redemption All of Its Outstanding 3.450% Senior Notes and 3.300% Senior Notes
    Business Wire

    American Tower Corporation Calls for Redemption All of Its Outstanding 3.450% Senior Notes and 3.300% Senior Notes

    American Tower Corporation (NYSE: AMT) today announced its election to call for redemption all of its outstanding 3.450% senior unsecured notes due 2021 and all of its outstanding 3.300% senior unsecured notes due 2021. The redemption date for each set of notes has been set for July 6, 2020. In accordance with the redemption provisions of the 3.450% notes and the Indenture, dated as of May 23, 2013 (the "Base Indenture"), as supplemented by the Supplemental Indenture No. 2, dated as of August 7, 2014, the 3.450% notes will be redeemed at a price equal to the principal amount of the 3.450% notes plus a make-whole premium calculated pursuant to the terms of the indenture, together with accrued and unpaid interest, if any, up to, but excluding, the redemption date. In accordance with the redemption provisions of the 3.300% notes and the Base Indenture, as supplemented by the Supplemental Indenture No. 4, dated as of January 12, 2016, the 3.300% notes will be redeemed at a price equal to the principal amount of the 3.300% notes plus a make-whole premium calculated pursuant to the terms of the indenture, together with accrued and unpaid interest, if any, up to, but excluding, the redemption date. The Company intends to fund the redemptions with borrowings under its $2.35 billion senior unsecured revolving credit facility, as amended and restated in December 2019, and cash on hand.

  • Love Dividends? 2 Stocks You Might Want to Buy
    Motley Fool

    Love Dividends? 2 Stocks You Might Want to Buy

    Exposure to 5G tailwinds and the increasing importance of connectivity could help make these stocks big winners.

  • American Tower Corporation Prices Senior Notes Offering
    Business Wire

    American Tower Corporation Prices Senior Notes Offering

    American Tower Corporation (NYSE: AMT) today announced the pricing of its registered public offering of senior unsecured notes due 2025, 2030 and 2050, in aggregate principal amounts of $500.0 million, $750.0 million and $750.0 million, respectively. The 2025 notes will have an interest rate of 1.300% per annum and are being issued at a price equal to 99.719% of their face value. The 2030 notes will have an interest rate of 2.100% per annum and are being issued at a price equal to 99.425% of their face value. The 2050 notes will have an interest rate of 3.100% per annum and are being issued at a price equal to 99.014% of their face value. The net proceeds of the offering are expected to be approximately $1,968.2 million, after deducting underwriting discounts and estimated offering expenses. American Tower intends to use the net proceeds to repay existing indebtedness under its $2.35 billion senior unsecured revolving credit facility, as amended and restated in December 2019, and for general corporate purposes.

  • Better Buy: AT&T vs. American Tower
    Motley Fool

    Better Buy: AT&T vs. American Tower

    When it comes to high-yield but stable dividend payments, AT&T (NYSE: T) is a solid option. The company's acquisition of Time Warner (now the company's Warner Media group) was a high price tag that racked up significant debt, and the media business is now in decline due to the economic lockdown to halt the spread of COVID-19. For investors looking for income, then, American Tower (NYSE: AMT) may get overlooked.

  • Why Is American Tower (AMT) Up 8.5% Since Last Earnings Report?
    Zacks

    Why Is American Tower (AMT) Up 8.5% Since Last Earnings Report?

    American Tower (AMT) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

  • American Tower Corporation to Present at Nareit's Reitweek: 2020 Virtual Investor Conference
    Business Wire

    American Tower Corporation to Present at Nareit's Reitweek: 2020 Virtual Investor Conference

    American Tower Corporation (NYSE: AMT) today announced that Tom Bartlett, its President and Chief Executive Officer, is scheduled to present at Nareit’s REITweek: 2020 Virtual Investor Conference, on Tuesday, June 2, 2020 at 2:15 p.m. ET. A live audio webcast link for the virtual event will be available on the Company's website.

  • 3 Stocks to Hold for the Next 20 Years
    Motley Fool

    3 Stocks to Hold for the Next 20 Years

    Investors need to look for companies with a track record of stability and resilience as key attributes.

  • Is American Tower's (AMT) Recent Dividend Hike Sustainable?
    Zacks

    Is American Tower's (AMT) Recent Dividend Hike Sustainable?

    American Tower (AMT) rewards investors with a 1.9% sequential hike in the quarterly dividend.

  • American Tower Corporation Declares Quarterly Distribution
    Business Wire

    American Tower Corporation Declares Quarterly Distribution

    American Tower Corporation (NYSE: AMT) today announced that its board of directors has declared its quarterly cash distribution of $1.10 per share on shares of the Company’s common stock. The distribution is payable on July 10, 2020 to the stockholders of record at the close of business on June 19, 2020.

  • Why American Tower Is a Dividend Investor's Dream
    Motley Fool

    Why American Tower Is a Dividend Investor's Dream

    The owner of towers and communication sites has been growing its dividends at double-digit rates since 2012.

  • American Tower Corporation Announces Completion of Redemption of All Outstanding 2.800% Senior Notes
    Business Wire

    American Tower Corporation Announces Completion of Redemption of All Outstanding 2.800% Senior Notes

    American Tower Corporation (NYSE: AMT) today announced that it has completed its previously announced redemption of all of its outstanding 2.800% senior unsecured notes due 2020. The Company redeemed the notes pursuant to their terms at their principal amount, plus accrued interest up to, but excluding, May 11, 2020. The total aggregate redemption price was approximately $759.3 million, including $9.3 million in accrued interest. The Company financed the redemption with borrowings under its $2.25 billion senior unsecured revolving credit facility, as amended and restated in December 2019, and cash on hand. Upon completion of this redemption, none of the 2.800% notes remained outstanding.

  • Looking at Oil Stocks? Here Are 5 Sectors With Better Prospects You Can Buy Right Now.
    Motley Fool

    Looking at Oil Stocks? Here Are 5 Sectors With Better Prospects You Can Buy Right Now.

    If you're looking at oil stocks right now, you're probably excited by the prospect of buying top oil stocks at discount prices but a little worried about the gloomy outlook for the industry at large. You're right to be concerned: Oil production may be unprofitable for months, if not years, and oil companies are slashing dividends and capital spending left and right. With that in mind, we rounded up five Motley Fool contributors who regularly cover the oil industry and asked them what sectors they think have superior prospects.

  • American Tower Corporation to Present at the Moffett Nathanson 7th Annual Media & Communications Summit
    Business Wire

    American Tower Corporation to Present at the Moffett Nathanson 7th Annual Media & Communications Summit

    American Tower Corporation (NYSE: AMT) today announced that Igor Khislavsky, its Vice President, Investor Relations, is scheduled to present at the Moffett Nathanson 7th Annual Media & Communications Summit on Monday, May 11, 2020 at 3:00 p.m. ET. The live audio webcast link for the virtual event will be available on the Company's website.

  • American Tower Corporation to Present at the J.P. Morgan 48th Annual Global Technology, Media and Communications Conference
    Business Wire

    American Tower Corporation to Present at the J.P. Morgan 48th Annual Global Technology, Media and Communications Conference

    American Tower Corporation (NYSE: AMT) today announced that Tom Bartlett, its President and Chief Executive Officer, is scheduled to present at the J.P. Morgan 48th Annual Global Technology, Media and Communications Conference, on Tuesday, May 12, 2020 at 10:40 a.m. ET. A live audio webcast link for the virtual event will be available on the Company's website.

  • American Tower Corp (AMT) Q1 2020 Earnings Call Transcript
    Motley Fool

    American Tower Corp (AMT) Q1 2020 Earnings Call Transcript

    AMT earnings call for the period ending March 31, 2020.

  • American Tower Corporation Reports First Quarter 2020 Financial Results
    Business Wire

    American Tower Corporation Reports First Quarter 2020 Financial Results

    American Tower Corporation (NYSE: AMT) today reported financial results for the quarter ended March 31, 2020.

  • Did You Participate In Any Of American Tower Corporation (REIT)'s (NYSE:AMT) Fantastic 185% Return ?
    Simply Wall St.

    Did You Participate In Any Of American Tower Corporation (REIT)'s (NYSE:AMT) Fantastic 185% Return ?

    When you buy shares in a company, it's worth keeping in mind the possibility that it could fail, and you could lose...

  • American Tower Corporation Calls for Redemption All of Its Outstanding 2.800% Senior Notes
    Business Wire

    American Tower Corporation Calls for Redemption All of Its Outstanding 2.800% Senior Notes

    American Tower Corporation (NYSE:AMT) today announced its election to call for redemption all of its outstanding 2.800% senior unsecured notes due 2020. The redemption date has been set for May 11, 2020. In accordance with the redemption provisions of the notes and the Indenture, dated as of May 23, 2013, as supplemented by the Supplemental Indenture No. 3, dated as of May 7, 2015, the notes will be redeemed at a price equal to the principal amount of the notes, together with accrued interest, if any, up to, but excluding, the redemption date. The Company intends to fund the redemption with borrowings under its $2.25 billion senior unsecured revolving credit facility, as amended and restated in December 2019, and cash on hand.