#4 - American Tower (NYSE:AMT)
2021 may be the year when a real estate investment trust (REIT) becomes sexy, at least if it’s American Tower (NYSE:AMT). The company owns 180,000 cell phone towers in the United States, Europe, and select emerging markets. And that puts the company in an ideal position to capture revenue not just in the United States but in the fast-growing 5G markets in India and Brazil.
Like many 5G stocks, American Tower has had a choppy year. At the time of this writing, the stock is only up about 4%. And the stock is down almost 10% since the middle of September. Part of this may be due to the company’s inability to meet analysts’ expectations. American Tower reported earnings on November 3 and missed on the bottom line for the fourth consecutive quarter, offsetting a narrow revenue gain.
Still, the company’s business model is simple and straightforward. It has a network of towers with excess capacity and is positioned to earn revenue as 5G demand increases gradually. And with a streak of eight consecutive years of dividend increases, the stock will reward investors who are in it for the long haul.
About American Tower
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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.
- Current Price
- $196.54
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 9 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $220.91 (12.4% Upside)
