American Tower Corp

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  • uploads///AMT
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    Glenview Capital Management is a private investment management firm with more than $7 billion of assets under management. Why buy American Tower Corp. (AMT)?

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  • uploads///Feature Image
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  • uploads///b
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  • uploads///stock picture HJHQsQohM
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  • uploads///Valuation
    Earnings Report

    How American Tower’s Valuation Stacks Up against Its Peers’

    Based on its trailing-12-month price-to-AFFO ratio, American Tower is trading at a discount to its main competitor Crown Castle International.

    By Anirudha Bhagat
  • uploads///Dividend
    Earnings Report

    American Tower Continues to Enhance Shareholder Wealth

    American Tower converted itself into a REIT in January 2012, and since then it’s been consistent in paying quarterly cash dividends.

    By Anirudha Bhagat
  • uploads///Adjusted EBITDA
    Earnings Report

    What Drove American Tower’s EBITDA Higher in Q2 2018?

    American Tower (AMT) reported adjusted EBITDA of $1.08 billion in the second quarter, coming in ahead of analysts’ expectation of $1.07 billion.

    By Anirudha Bhagat
  • uploads///International Market
    Earnings Report

    Global Expansion Strategy Brings Incremental Revenue for AMT

    American Tower (AMT) generates ~45% of its revenue from the international market.

    By Anirudha Bhagat
  • uploads///Site Rental Revenue
    Earnings Report

    5G Wireless Networks to Fuel Crown Castle’s Future Growth

    Crown Castle (CCI) expects its site rental revenue to rise 31%–32% YoY (year-over-year) to $1.172 billion–$1.182 billion in the third quarter, and 27%–28% YoY to $4.673 billion–$4.703 billion in fiscal 2018.

    By Anirudha Bhagat
  • uploads///International Contribution
    Earnings Report

    What American Tower’s Global Expansion Strategy Indicates

    American Tower’s (AMT) global expansion strategy, which includes acquisitions and joint ventures in several countries (mainly in developing nations), is likely to continue supporting its top line.

    By Anirudha Bhagat
  • uploads///Geographical Contribution
    Earnings Report

    This Is Anticipated to Drive American Tower’s Domestic Market

    American Tower (AMT) generates ~55% of its revenue from the US market.

    By Anirudha Bhagat
  • uploads///china _
    Earnings Report

    What’s Expected to Drive American Tower’s Q2 2018 Earnings

    In this series, we’ll look at American Tower’s earnings, shareholder payouts, strategic investments, expectations, and valuation.

    By Anirudha Bhagat
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    Macroeconomic Analysis

    Why REIT Valuations Look Attractive as the Market Hits the Roof

    In the recently concluded first quarter, more than 95% of REITs reported earnings beats and maintained their guidances for 2018.

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  • uploads///Article  image revised
    Company & Industry Overviews

    American Tower Is Trading at High Multiples amid Global Expansion

    American Tower (AMT) is currently trading at a trailing-12-month price-to-FFO ratio of 20.2x.

    By Audrey Miller
  • uploads///Article  image revised
    Company & Industry Overviews

    How Forex Volatility Could Affect American Tower’s Operations

    While the US dollar was expected to gain from the growing economy and the rising interest rates, the recent tax cuts have flipped the scenario.

    By Audrey Miller
  • uploads///Article  image Revised
    Company & Industry Overviews

    A Look into American Tower’s Major Revenue Drivers

    American Tower (AMT) owns and operates over 160,000 communications sites around the world.

    By Audrey Miller
  • uploads///AMT Image
    Company & Industry Overviews

    What to Expect from American Tower in 2018 amid 5G Rollout

    American Tower is likely to continue on a growth trajectory on the back of strategic investments and rapid expansion in emerging markets.

    By Audrey Miller
  • uploads///Analyst Recommendations
    Company & Industry Overviews

    Analysts Give Crown Castle Stock Mostly ‘Buy’ Ratings in 2018

    Analyst ratings Crown Castle’s (CCI) 2018 performance expectations have been reflected in its analyst ratings. Of the 21 analysts covering the stock in January 2018, 13 have recommended “buy” or “strong buy” (as was the case in December 2017), and eight have recommended “hold.” Analysts have given Crown Castle a mean price target of $116.89, implying a […]

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  • uploads///Peers
    Company & Industry Overviews

    Where Crown Castle Stands among Peers

    Peer comparison In 4Q17, Crown Castle (CCI) had FFO[1.funds from operations] per share of $1.25, and in 2018, it’s expected to see FFO per share of $5.23 due to its acquisition of Lightower. The company is expected to grow 7.8% in 2018, 11.4% in 2019, and at a five-year rate of 15.5%. Trading slightly lower rate than the industry […]

    By Raina Brown
  • uploads///Dividend per share
    Company & Industry Overviews

    How Crown Castle Rewards Shareholders

    Crown Castle’s dividend policy In 4Q17, Crown Castle (CCI) announced a dividend of $0.95 per share, bringing its 2017 dividend to $3.89, compared with $3.60 in 2016. It paid a dividend of $3.34 in 2015. Its dividend yield is currently 3.8%, and its three-year dividend growth rate is 27.8%. The company achieved its long-term annual dividend growth target of […]

    By Raina Brown
  • uploads///factors
    Company & Industry Overviews

    A Look into Crown Castle’s Business Model

    Major customers Crown Castle’s (CCI) customer base comprises wireless carriers operating in national networks and carriers renting small cell networks, including those of healthcare, education, and government organizations. Crown Castle’s key strategy is to acquire large tower clusters and leverage its relationships with carriers in US markets. Of its fiscal 2017 revenue, it derived 22% from AT&T (T), […]

    By Raina Brown
  • uploads///Crown Castle Beats Revenue Boosts Estimates
    Company & Industry Overviews

    Crown Castle Beats Revenue and Boosts Estimates

    Crown Castle (CCI) has increased its site rental revenue estimate for 2018 by $36 million to $4.6 billion, representing a 26% YoY (year-over-year) gain.

    By Raina Brown
  • uploads///Analyst Rating
    Company & Industry Overviews

    Analysts’ Views of American Tower

    As of January 2018, 21 of the 22 analysts covering American Tower stock have given it a “buy” or “strong buy” rating. The remaining analyst gave it a “hold” rating.

    By Raina Brown
  • uploads///_Capital deployment
    Company & Industry Overviews

    American Tower’s Disciplined Capital Allocation

    American Tower (AMT) deployed $600 million of capital in 3Q17, bringing its year-to-date amount to $3.6 billion.

    By Raina Brown
  • uploads///_balancesheet
    Company & Industry Overviews

    A Look at American Tower’s Well-Built Balance Sheet

    During 3Q17, American Tower (AMT) strengthened its revenues on higher organic growth in domestic and international markets such as India and Mexico.

    By Raina Brown
  • uploads///_diversification
    Company & Industry Overviews

    American Tower’s Strong Hold in the International Market

    Mexico is one of American Tower’s (AMT) vital international markets. AMT has entered into an agreement to acquire certain telecommunication assets in Mexico.

    By Raina Brown
  • uploads///Factors
    Company & Industry Overviews

    These Factors Are Helping American Tower’s Growth

    Data usage is increasing in international markets due to smartphone penetration.

    By Raina Brown
  • uploads///_Organic growth
    Company & Industry Overviews

    American Tower Riding High with Strong Organic Growth

    American Tower (AMT) has increased its 2017 revenue outlook to $6.55 billion from $6.53 billion, an addition of $15 million and a 0.2% increase.

    By Raina Brown
  • uploads///Part  CC
    Company & Industry Overviews

    Chemours to Increase Fluoropolymer Prices

    On December 21, 2017, Chemours (CC) announced price hikes on some of its products.

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  • uploads///Ratings
    Real Estate

    What Analysts Think about the Top 3 Wireless REITs after 2Q17

    The wireless tower owners’ expected performance in fiscal 2017 is reflected in the analysts’ ratings for the companies.

    By Jennifer Mathews
  • uploads///Intro
    Company & Industry Overviews

    How the Top 3 Wireless Tower REITs Performed in 2Q17

    In this series, we’ll analyze the 2Q17 results of American Tower (AMT), SBAC Communications (SBAC), and Crown Castle International (CCI).

    By Jennifer Mathews
  • uploads///PFFO
    Earnings Report

    American Tower’s Place among Peers after 2Q17

    AMT’s current price-to-FFO multiple stands at ~22.1x. After 2Q17, American Tower offers a next-12-month dividend yield of 1.9%.

    By Jennifer Mathews
  • uploads///Debt
    Earnings Report

    The Story behind American Tower’s Strong Balance Sheet

    In 2Q17, American Tower (AMT) topped its 2Q16 results on higher organic tenant billing and prudent cost controls.

    By Jennifer Mathews
  • uploads///Dividend
    Earnings Report

    How American Tower Rewarded Stockholders in 2Q17

    In 2Q17, American Tower distributed cash worth $275 million among its common stockholders and paid preferred stock dividends totaling $27 million.

    By Jennifer Mathews
  • uploads///EBITDA
    Earnings Report

    Can American Tower Maintain Consistent EBITDA Growth after 2Q17?

    American Tower’s (AMT) 2Q17 EBITDA grew 17.5% to $1.02 billion. These results surpassed the analysts’ expectations of $1 billion.

    By Jennifer Mathews
  • uploads///Art  Revenue Drivers
    Earnings Report

    American Tower’s 2Q17 Growth Rode on This

    American Tower’s (AMT) total deployment consisted of $79 million for acquisitions and over $400 million for stock repurchases.

    By Jennifer Mathews
  • uploads///Revenue Composition
    Earnings Report

    Behind American Tower’s Robust 2Q17 Revenue Growth

    For 2Q17, American Tower (AMT) has reported robust double-digit revenue growth of 15.3%, backed primarily by higher tenant billing growth.

    By Jennifer Mathews
  • uploads///Revenue
    Earnings Report

    What Lies Ahead for American Tower

    For fiscal 2017, American Tower expects to report property revenues that would be 14% higher on a year-over-year basis, or by $25 million.

    By Jennifer Mathews
  • uploads///AFFO
    Earnings Report

    Inside American Tower’s 2Q17 Results: What You Need to Know

    For 2Q17, American Tower (AMT) reported adjusted funds from operation of $1.58 per share, meeting Wall Street estimates and topping 2Q16 by 18.8%.

    By Jennifer Mathews
  • uploads///Art  Val
    Earnings Report

    American Tower: A Peer Comparison

    AMT’s current price-to-FFO ratio stands at 20.06x. The company has undertaken several acquisitions and strategic partnerships to boost its presence in high-demand geographies.

    By Jennifer Mathews
  • uploads///Art  Dividend
    Earnings Report

    Will American Tower Boost Its Shareholders’ Returns in 2Q17?

    American Tower has paid dividends to its shareholders in every quarter since it became a public company. On June 1, AMT hiked its quarterly dividend by 3.2%.

    By Jennifer Mathews
  • uploads///Art  EBITDA
    Earnings Report

    Will AMT’s Business Model Drive Higher Earnings in 2Q17?

    According to Wall Street analysts, American Tower (AMT) is expected to report EBITDA (earnings before income tax, depreciation, and amortization) of $1 billion in 2Q17.

    By Jennifer Mathews
  • uploads///Art  Revenue Drivers
    Earnings Report

    What Are the Main Contributors to AMT’s 2Q17 Revenue Growth?

    Wireless tower owner American Tower (AMT) is expected to post flat year-over-year (or YoY) top and bottom line results when it releases its 2Q17 earnings on July 27, 2017.

    By Jennifer Mathews
  • uploads///Art  Revenue
    Earnings Report

    Will American Tower Ride High on Its Top Line in 2Q17?

    Analysts expect wireless tower operator American Tower (AMT) to report revenue of $1.6 billion in its 2Q17 earnings call on July 27, 2017.

    By Jennifer Mathews
  • uploads///Art  FFO
    Earnings Report

    What to Expect from Wireless REIT American Tower in 2Q17

    American Tower is scheduled to report its 2Q17 earnings on July 27, 2017. Analysts expect it to report adjusted funds from operations per diluted share of $1.58.

    By Jennifer Mathews
  • uploads///Art  Rating
    Company & Industry Overviews

    Crown Castle on the Street: Inside the Analyst Ratings

    Analysts have given CCI a mean price target of $106.83, implying a rise of 7.1% from its current level of $99.75.

    By Jennifer Mathews
  • uploads///Art  Val
    Company & Industry Overviews

    Where Crown Castle Stands among the Biggest Industry Players

    CCI’s higher price-to-FFO multiple reflects the company’s ability to yield consistent capital value and its distribution of reliable and steady dividends.

    By Jennifer Mathews
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    Company & Industry Overviews

    How Well Is Crown Castle Leveraging Its Balance Sheet?

    It’s extremely important for REITs to maintain optimum debt levels, and managers work constantly to leverage balance sheets in the best possible ways.

    By Jennifer Mathews
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    Company & Industry Overviews

    Why Some Are Investors Are Bullish on Crown Castle

    REITs (real estate investment trusts) typically have to pay 90% of their taxable income to shareholders to qualify as an equity.

    By Jennifer Mathews
  • uploads///Towers
    Company & Industry Overviews

    Crown Castle amid the 5G Threat to Cell Towers

    Many wireless providers are now opting for 5G (fifth-generation) technology for higher speeds and network reliability.

    By Jennifer Mathews
  • uploads///Snartphones
    Company & Industry Overviews

    Behind Crown Castle’s Investment in 5G

    Crown Castle has been quick to respond to the needs of the day, focusing on new technology and transforming itself from a tower company to a fiber provider.

    By Jennifer Mathews
  • uploads///Art  Revenue
    Company & Industry Overviews

    Why Crown Castle Expects to See Revenue Growth

    Crown Castle is expected to keep riding high on its current growth trajectory, driven by strategic investments and exposure to the booming small cell business.

    By Jennifer Mathews
  • uploads///Art  FFO
    Company & Industry Overviews

    Introducing Crown Castle: A Wireless REIT amid Telecom Headwinds

    CCI has raised its fiscal 2017 outlook for AFFO by $4 million. This enhanced guidance reflects the company’s increase in tower leasing activity.

    By Jennifer Mathews
  • uploads///Ratings
    Company & Industry Overviews

    How Wall Street Analysts Rate American Tower

    Analysts gave AMT a mean price target of $143.14, implying a rise of 8.7% from its current level of $131.70. In May 2017, 22 of 23 analysts covering AMT stock issued “buy” or “strong buy” ratings.

    By Jennifer Mathews
  • uploads///Val
    Company & Industry Overviews

    Comparing American Tower with Retail REITs in Its Industry

    AMT’s current price-to-FFO multiple is ~20.1x.

    By Jennifer Mathews
  • uploads///Debt
    Company & Industry Overviews

    How Well Does American Tower Manage Its Balance Sheet?

    AMT reported a debt-to-equity ratio of ~2.8x in 1Q17. The industry median debt-to-equity ratio is ~1.1x.

    By Jennifer Mathews
  • uploads///Dividend Payout
    Company & Industry Overviews

    American Tower: A Rewarding Stock for Shareholders

    AMT has maintained a consistent dividend yield over the last two years. Its dividend yield was ~1.8% in 2015 and ~2.0% in 2016.

    By Jennifer Mathews
  • uploads///Cell towers
    Company & Industry Overviews

    How Telecom Industry Ownership Could Affect American Tower

    Under the leadership of Ajit Pai and Jeffrey Eisenach, the FCC is expected to unblock several stalled deals as well as pave the way for some new deals.

    By Jennifer Mathews
  • uploads///Snartphones
    Company & Industry Overviews

    5G Is the Future of Internet Data—Is It a Threat to AMT?

    More than 95% of AMT’s towers are located in suburban and rural areas, where the majority of the US population resides.

    By Jennifer Mathews
  • uploads///Around the world towers
    Company & Industry Overviews

    American Tower’s Business Model Seeks Consistent Profitability

    AMT maintains non-cancellable long-term leases with an initial term of ten years. Almost 50% of the company’s leases have a renewal date of 2022 or beyond.

    By Jennifer Mathews
  • uploads///Towers
    Company & Industry Overviews

    American Tower’s Enhanced Fiscal 2017 Outlook on Growth Opportunities

    American Tower’s (AMT) revenues rose ~26% in 1Q17, driven by 22% growth in its Tenant Billings business and 8.6% growth in its Organic Tenant Billings business.

    By Jennifer Mathews
  • uploads///FFO
    Company & Industry Overviews

    American Tower Rises above Uncertainty in Wireless Tower Sector

    For fiscal 2017, American Tower (AMT) expects to report adjusted funds from operations exceeding $2.8 billion. This figure is $55 million, or ~2%, higher than expected by the company.

    By Jennifer Mathews
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  • uploads///AMT Q Pre Analysts Recommendations
    Miscellaneous

    What Are Analysts’ Recommendations for American Tower’s Stock?

    On January 23, 2017, the majority of analysts recommended “buys” on American Tower’s stock. These recommendations represented ~87.0% of the 23 analysts covering the stock.

    By Ambrish Shah
  • uploads///AMT Q Pre Adjusted EPS Estimate
    Company & Industry Overviews

    What Analysts Expect from American Tower’s 4Q16 Earnings

    American Tower will report its 4Q16 results on February 24, 2017. In this series, we’ll take a look at the expectations for the company’s performance during the quarter.

    By Ambrish Shah
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  • uploads///tower owners
    Company & Industry Overviews

    An Overview of the Wireless Tower Industry

    Industry profitability has increased mainly due to improved pricing of wireless service contracts and the strengthening of infrastructure investments.

    By Steve Sage
  • uploads///Portfolio Break down of the TRBCX
    Macroeconomic Analysis

    The T. Rowe Price Blue Chip Growth Fund through November 2015

    The T. Rowe Price Blue Chip Growth Fund’s assets were invested across 126 holdings in stocks, bonds, and cash as of November 2015. It managed $31.01 billion in assets as of the end of November.

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    Macroeconomic Analysis

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  • uploads///MBA
    Macroeconomic Analysis

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    Mortgage applications reported a fall of 6.70% for the week ending September 25. The Purchase Index fell 6% and the Refinance Index fell 8% from the prior week.

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  • uploads///P
    Company & Industry Overviews

    REITs Fall Last Week: Has Real Estate Rally Finally Lost Steam?

    In real estate, US REITs continued to correct, and REITs in XLF fell 2.40% last week. XLF is composed of 23 REITs, and 22 of those stocks closed the week in red.

    By Rebecca Keats
  • uploads///Telecom Verizon tower transaction
    Earnings Report

    Verizon’s Transaction with American Tower: What You Need to Know

    Verizon (VZ) signed an agreement with American Tower (AMT) for a wireless tower portfolio transaction on February 5, 2015.

    By Ray Sheffer
  • uploads///Telecom Verizon sale contribution revenues ebitda_
    Earnings Report

    Verizon’s Frontier Communications Deal to Ease Leverage Pressure

    Verizon is selling profitable wireline assets to Frontier Communications In the previous part of this series, we learned about Verizon’s (VZ) agreement to sell its wireline assets in three states to Frontier Communications (FTR). Now, we’ll look at some of the reasons why Verizon is rationalizing its wireline asset base. As you can see in the […]

    By Ray Sheffer
  • uploads///NTAP
    Consumer

    Glenview Capital Management starts new positions in AAP, AMT, DG, NXPI, sells NTAP, ROVI—13F Flash E

    Glenview Capital Management is a private investment management firm with more than $7 billion of assets under management. Why sell NetApp Inc. (NTAP)?

    By Samantha Nielson
  • uploads///DG
    Consumer

    Glenview Capital Management starts new positions in AAP, AMT, DG, NXPI, sells NTAP, ROVI—13F Flash C

    Glenview Capital Management is a private investment management firm with more than $7 billion of assets under management. Why buy Dollar General Corp. (DG)?

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