American Tower: A Nice Opportunity

Summary:

  • American Tower Corporation reported solid quarterly results.
  • The company’s underlying business growth remains strong, with organic tenant billings growing by more than 6% for two consecutive quarters.
  • Despite temporary headwinds from higher interest rates, American Tower offers a buying opportunity with a below-average valuation and above-average dividend yield.

Cell phone or mobile service tower in forested area of West Virginia providing broadband service

BackyardProduction

Article Thesis

American Tower Corporation (NYSE:AMT) has reported quarterly results that were very solid. Underlying business momentum is positive, and thanks to a weak share price performance over the last year, American Tower now offers an above-average dividend


Analyst’s Disclosure: I/we have a beneficial long position in the shares of T, AMT either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.


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