|Bid||255.50 x 1100|
|Ask||256.00 x 1000|
|Day's Range||253.83 - 257.80|
|52 Week Range||174.32 - 260.43|
|Beta (5Y Monthly)||0.43|
|PE Ratio (TTM)||60.19|
|Earnings Date||Jul 29, 2020 - Aug 03, 2020|
|Forward Dividend & Yield||4.14 (1.64%)|
|Ex-Dividend Date||Jun 18, 2020|
|1y Target Est||267.36|
Wednesday's IBD 50 Stocks To Watch pick, American Tower, offers new buy point in today's stock market weakness.
Real estate investment trust American Tower got a positive adjustment to its Relative Strength (RS) Rating, from 79 to 85. The IBD 50 stock is building a flat base with a 260.53 entry. See if the stock can clear the breakout price in volume at least 40% higher than normal.
Oppenheimer upgraded shares of American Tower REIT and Crown Castle International to Outperform recently, citing long-term growth potential and attractive valuations.
Shares of American Tower REIT surged 5.9% in afternoon trading Friday, to pace the gainers among its large-capitalization peers, after Oppenheimer analyst Timothy Horan turned bullish, citing attractive valuation and increasing broadband demand amid the COVID-19 pandemic. Horan raised his rating on the real estate investment trust, which focues on multi-tenant communications real estate, to outperform from peer perform. His price target on the stock (AMT) is $270, which is 10.4% above current levels. "AMT is benefiting from very strong emerging market demand, and India which has been a drag, appears set to accelerate growth as the industry has consolidated down to a reasonable level," Horan wrote in a note to clients. He said he had been on the sidelines because growth had slowed slightly, uncertainties related to the T-Mobile U.S. Inc. merger with Sprint and "rich" valuations, but given the declines in Treasury yields, he now believes AMT's adjusted funds from operations (AFFO) yield of 3.7% are "attractive." The yield on the 10-year Treasury note was last at 0.661%, down from 1.919% at the end of 2019. The stock was the biggest gainer Friday among the components of the SPDR Real Estate Select Sector ETF's , which was trading up 1.8% on Friday. Horan also upgraded Crown Castle International Corp. to outperform from perform, and the stock was the REIT ETF's second biggest gainer with a 3.4% rally. Year to date, AMT has advanced 5.1%, while the REIT ETF has dropped 15.7% and the S&P 500 has lost 8.6%.
While the coronavirus has caused uncertainty and sparked recessionary fears, temporarily slowing new network builds, tower growth appears set to reaccelerate, according to Oppenheimer.The American Tower, Crown Castle Analyst Timothy Horan upgraded American Tower Corp (NYSE: AMT) and Crown Castle International Corp (NYSE: CCI) from Perform to Outperform and set price targets of $270 and $175, respectively.The American Tower, Crown Castle Thesis American Tower and Crown Castle are both witnessing strong and accelerating demand from carriers, with mobile broadband becoming more important than ever, Horan said in the Friday upgrade note. (See his track record here.)The analyst expects a solid rebound in tower activity from T-Mobile US, Inc. (NASDAQ: TMUS) this year, buildouts by DISH Network Corp (NASDAQ: DISH), strong spend by Verizon Communications Inc. (NYSE: VZ) and rural fixed wireless boosted by government subsidies.Massive spectrum auctions scheduled for the back half of 2020 are also positives, he said.Oppenheimer projects that tower volume growth will accelerate from 4% in 2019 to 9% within two years from small cell strength."Various channel checks on 5G builds this week confirm our optimism, as the industry's wireless operators are seeing fixed wireless/enterprise use cases," Horan said. The analyst expressed optimism regarding the U.S. wireless services addressable market doubling to $150 billion.AMT, CCI Price Action American Tower shares were up 5.36% at $240.38 at the time of publication, while Crown Castle shares were 3.19% higher at $155.64. Related Links: Barron's Picks And Pans: Boyd Gaming, Domino's Pizza, Exxon And MoreStocks That Hit 52-Week Highs On ThursdayLatest Ratings for AMT DateFirmActionFromTo May 2020OppenheimerUpgradesPerformOutperform Apr 2020Credit SuisseMaintainsOutperform Apr 2020Credit SuisseInitiates Coverage OnOutperform View More Analyst Ratings for AMT View the Latest Analyst Ratings See more from Benzinga * BofA Downgrades Closed-End REITs On Distribution Risks * MGM Resorts International Could Take 4-6 Years To Recover, BofA Says In Downgrade * BofA Downgrades Pinduoduo On Monetization Concerns(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of American Tower Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. Since 1 January 2019, Moody's practice has been to issue a press release following each periodic review to announce its completion.
American Tower (AMT) rewards investors with a 1.9% sequential hike in the quarterly dividend.
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.
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.
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 (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 (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.
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]
American Tower (AMT) witnesses robust growth in the property segment's revenues and organic tenant billing in Q1. Yet a decline in the service segment's revenues plays a spoilsport.
American Tower (AMT) delivered FFO and revenue surprises of 3.92% and -0.41%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
The build-out of data centers and 5G technology stands in contrast to the retreating retail and commercial real estate markets.