American TowerAMT
Market Cap: $110B
About: American Tower owns and operates more than 220,000 cell towers throughout the us, Asia, Latin America, Europe, and Africa. It also owns and/or operates 28 data centers in 10 us markets after acquiring CoreSite. On its towers, the company has a very concentrated customer base, with most revenue in each market being generated by just the top few mobile carriers. The company operates more than 40,000 towers in the us, which accounted for almost half of the company's total revenue in 2023. Outside the us, American Tower operates over 75,000 towers in India, almost 50,000 towers in Latin America (dominated by Brazil), 30,000 towers in Europe, and nearly 25,000 towers in Africa. American Tower operates as a REIT.
Employees: 5,643
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
18% more call options, than puts
Call options by funds: $460M | Put options by funds: $391M
7% more funds holding in top 10
Funds holding in top 10: 30 [Q1] → 32 (+2) [Q2]
0% less funds holding
Funds holding: 1,727 [Q1] → 1,720 (-7) [Q2]
3% less repeat investments, than reductions
Existing positions increased: 678 | Existing positions reduced: 699
3% less capital invested
Capital invested by funds: $86.7B [Q1] → $83.7B (-$2.99B) [Q2]
5% less first-time investments, than exits
New positions opened: 148 | Existing positions closed: 155
2.07% less ownership
Funds ownership: 94.25% [Q1] → 92.18% (-2.07%) [Q2]
Research analyst outlook
9 Wall Street Analysts provided 1 year price targets over the past 3 months
9 analyst ratings
RBC Capital Jonathan Atkin 79% 1-year accuracy 11 / 14 met price target | 0%downside $236 | Outperform Maintained | 15 Aug 2024 |
Deutsche Bank Matthew Niknam 47% 1-year accuracy 7 / 15 met price target | 0%downside $235 | Buy Maintained | 14 Aug 2024 |
Scotiabank Maher Yaghi 100% 1-year accuracy 8 / 8 met price target | 5%upside $248 | Sector Outperform Maintained | 31 Jul 2024 |
TD Cowen Colby Synesael 33% 1-year accuracy 1 / 3 met price target | 1%upside $239 | Buy Maintained | 31 Jul 2024 |
Wells Fargo Eric Luebchow 78% 1-year accuracy 29 / 37 met price target | 4%upside $245 | Overweight Maintained | 31 Jul 2024 |
Financial journalist opinion
Based on 21 articles about AMT published over the past 30 days