NYSE:AMT

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American Tower Corporation (REIT)

Executive Summary

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 181,000 communications sites. More Details


Snowflake Analysis

Proven track record second-rate dividend payer.


Similar Companies

Share Price & News

How has American Tower Corporation (REIT)'s share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: AMT is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: AMT's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

0.6%

AMT

0.07%

US REITs

2.8%

US Market


1 Year Return

9.4%

AMT

-8.6%

US REITs

20.9%

US Market

Return vs Industry: AMT exceeded the US REITs industry which returned -8.6% over the past year.

Return vs Market: AMT underperformed the US Market which returned 20.9% over the past year.


Shareholder returns

AMTIndustryMarket
7 Day0.6%0.07%2.8%
30 Day1.9%9.6%11.1%
90 Day-6.0%2.1%6.5%
1 Year11.3%9.4%-4.8%-8.6%23.6%20.9%
3 Year72.7%63.0%17.8%3.8%47.3%37.6%
5 Year164.7%140.0%47.6%17.9%94.3%72.9%

Long-Term Price Volatility Vs. Market

How volatile is American Tower Corporation (REIT)'s share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is American Tower Corporation (REIT) undervalued compared to its fair value and its price relative to the market?

6.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: AMT ($234.09) is trading below our estimate of fair value ($250.91)

Significantly Below Fair Value: AMT is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: AMT is poor value based on its PE Ratio (55x) compared to the US REITs industry average (37.8x).

PE vs Market: AMT is poor value based on its PE Ratio (55x) compared to the US market (19.7x).


Price to Earnings Growth Ratio

PEG Ratio: AMT is poor value based on its PEG Ratio (3.7x)


Price to Book Ratio

PB vs Industry: AMT is overvalued based on its PB Ratio (27.9x) compared to the US REITs industry average (1.6x).


Next Steps

Future Growth

How is American Tower Corporation (REIT) forecast to perform in the next 1 to 3 years based on estimates from 19 analysts?

14.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AMT's forecast earnings growth (14.7% per year) is above the savings rate (2.2%).

Earnings vs Market: AMT's earnings (14.7% per year) are forecast to grow slower than the US market (22% per year).

High Growth Earnings: AMT's earnings are forecast to grow, but not significantly.

Revenue vs Market: AMT's revenue (5.7% per year) is forecast to grow slower than the US market (10.3% per year).

High Growth Revenue: AMT's revenue (5.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: AMT's Return on Equity is forecast to be very high in 3 years time (212.2%).


Next Steps

Past Performance

How has American Tower Corporation (REIT) performed over the past 5 years?

23.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AMT has high quality earnings.

Growing Profit Margin: AMT's current net profit margins (24.1%) are higher than last year (20.6%).


Past Earnings Growth Analysis

Earnings Trend: AMT's earnings have grown significantly by 23.2% per year over the past 5 years.

Accelerating Growth: AMT's earnings growth over the past year (17.6%) is below its 5-year average (23.2% per year).

Earnings vs Industry: AMT earnings growth over the past year (17.6%) exceeded the REITs industry 2%.


Return on Equity

High ROE: Whilst AMT's Return on Equity (40.04%) is outstanding, this metric is skewed due to their high level of debt.


Next Steps

Financial Health

How is American Tower Corporation (REIT)'s financial position?


Financial Position Analysis

Short Term Liabilities: AMT's short term assets ($2.9B) do not cover its short term liabilities ($3.3B).

Long Term Liabilities: AMT's short term assets ($2.9B) do not cover its long term liabilities ($33.5B).


Debt to Equity History and Analysis

Debt Level: AMT's debt to equity ratio (521.8%) is considered high.

Reducing Debt: AMT's debt to equity ratio has increased from 254.7% to 521.8% over the past 5 years.

Debt Coverage: AMT's debt is not well covered by operating cash flow (15.1%).

Interest Coverage: AMT's interest payments on its debt are well covered by EBIT (4x coverage).


Balance Sheet


Next Steps

Dividend

What is American Tower Corporation (REIT) current dividend yield, its reliability and sustainability?

1.95%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: AMT's dividend (1.95%) is higher than the bottom 25% of dividend payers in the US market (1.47%).

High Dividend: AMT's dividend (1.95%) is low compared to the top 25% of dividend payers in the US market (4.08%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, AMT has been paying a dividend for less than 10 years.

Growing Dividend: AMT's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (51.9%), AMT's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: AMT's dividends in 3 years are forecast to be covered by earnings (65.7% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

0.8yrs

Average management tenure


CEO

Tom Bartlett (61 yo)

0.67

Tenure

US$6,949,255

Compensation

Mr. Thomas A. Bartlett, also known as Tom, serves as President and Chief Executive Officer at American Tower Corporation & American Tower Corporation (REIT) since March 16, 2020 and serves as Director sinc...


CEO Compensation Analysis

Compensation vs Market: Tom's total compensation ($USD6.95M) is below average for companies of similar size in the US market ($USD10.83M).

Compensation vs Earnings: Tom's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Thomas Bartlett
President0.67yrUS$6.95m0.033%
$ 34.2m
Edmund DiSanto
Executive VPno dataUS$6.27m0.032%
$ 33.4m
Amit Sharma
Executive VP & President of Asiano dataUS$6.68m0.055%
$ 57.0m
Steven Vondran
Executive VP & President of US Tower Division20.83yrsUS$4.46m0.0050%
$ 5.2m
Rodney Smith
Executive VP0.67yrno data0.0063%
$ 6.5m
Robert Meyer
Senior VP & Chief Accounting Officer0.83yrno data0.0046%
$ 4.7m
Edward Knapp
Chief Technology Officerno datano datano data
Igor Khislavsky
Vice President of Investor Relationsno datano datano data
Olivier Puech
Executive VP & President of Latin America and EMEA7.83yrsno data0.0040%
$ 4.1m
Michael Powell
Vice President of Financial Planningno datano datano data
Mneesha Nahata
Vice President of Legalno datano datano data

0.8yrs

Average Tenure

59yo

Average Age

Experienced Management: AMT's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Thomas Bartlett
President0.67yrUS$6.95m0.033%
$ 34.2m
Raymond Dolan
Independent Director17.67yrsUS$275.16k0.0034%
$ 3.5m
Pamela D. Reeve
Independent Non-Executive Chairman0.50yrUS$305.16k0.0034%
$ 3.5m
David Sharbutt
Independent Director14.33yrsUS$285.16k0.000010%
$ 10.4k
Craig Macnab
Independent Director5.92yrsUS$290.16k0.0019%
$ 2.0m
Robert Hormats
Independent Director5.08yrsUS$275.16k0.0012%
$ 1.2m
Samme Thompson
Independent Director15.25yrsUS$282.66k0.0044%
$ 4.6m
JoAnn Reed
Independent Director13.5yrsUS$295.16k0.011%
$ 11.1m
Gustavo Lara Cantu
Independent Director16yrsUS$278.90k0.0023%
$ 2.4m
Bruce Tanner
Independent Director1.17yrsUS$21.25kno data
Grace Lieblein
Director3.42yrsUS$280.16k0.00050%
$ 519.9k
Stephen Harris
Chairman of ATC Europe3.33yrsno datano data

5.5yrs

Average Tenure

64yo

Average Age

Experienced Board: AMT's board of directors are considered experienced (5.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: AMT insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

American Tower Corporation (REIT)'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: American Tower Corporation (REIT)
  • Ticker: AMT
  • Exchange: NYSE
  • Founded: 1995
  • Industry: Specialized REITs
  • Sector: Real Estate
  • Market Cap: US$103.986b
  • Shares outstanding: 444.21m
  • Website: https://www.americantower.com

Number of Employees


Location

  • American Tower Corporation (REIT)
  • 116 Huntington Avenue
  • 11th Floor
  • Boston
  • Massachusetts
  • 2116
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AMTNYSE (New York Stock Exchange)YesNew Common StockUSUSDJun 1998
A0TDB (Deutsche Boerse AG)YesNew Common StockDEEURJun 1998
AMT *BMV (Bolsa Mexicana de Valores)YesNew Common StockMXMXNJun 1998
0HEULSE (London Stock Exchange)YesNew Common StockGBUSDJun 1998
AMTGWBAG (Wiener Boerse AG)YesNew Common StockATEURJun 1998
A0TETLX (Eurotlx)YesNew Common StockITEURJun 1998
T1OW34BOVESPA (Bolsa de Valores de Sao Paulo)BDR EACH 4 REPR 1 SHS UNSPONBRBRLJan 2020

Biography

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 181,000 communications si...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/30 00:13
End of Day Share Price2020/11/27 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.