American Tower upgraded by Raymond James with a new price target
$AMT
Real Estate Investment Trusts
Real Estate
Raymond James upgraded American Tower from Outperform to Strong Buy and set a new price target of $248.00 from $226.00 previously
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/10/2024 | $245.00 → $230.00 | Overweight → Equal Weight | Wells Fargo |
| 7/1/2024 | $230.00 | Buy | Goldman |
| 5/1/2024 | $226.00 → $248.00 | Outperform → Strong Buy | Raymond James |
| 4/8/2024 | $205.00 | Neutral | Mizuho |
| 12/14/2023 | $245.00 | Buy | HSBC Securities |
| 10/13/2023 | $208.00 | Sector Outperform | Scotiabank |
| 7/13/2023 | $230.00 | Outperform | BMO Capital Markets |
| 3/30/2023 | $244.00 → $234.00 | Market Perform → Outperform | MoffettNathanson |
Wells Fargo downgraded American Tower from Overweight to Equal Weight and set a new price target of $230.00 from $245.00 previously
Goldman initiated coverage of American Tower with a rating of Buy and set a new price target of $230.00
Raymond James upgraded American Tower from Outperform to Strong Buy and set a new price target of $248.00 from $226.00 previously
American Tower Corporation (NYSE:AMT) today announced the pricing of its registered public offering of senior unsecured notes due 2030 and 2035 in aggregate principal amounts of $600.0 million and $600.0 million, respectively. The 2030 notes will have an interest rate of 5.000% per annum and are being issued at a price equal to 99.622% of their face value. The 2035 notes will have an interest rate of 5.400% per annum and are being issued at a price equal to 99.455% of their face value. The net proceeds of the offering are expected to be approximately $1,183.7 million, after deducting underwriting discounts and estimated offering expenses. American Tower intends to use the net proceeds to
On September 12, 2024, American Tower Corporation (the "Company" or "American Tower") completed the sale of 100% of the equity interests in its operations in India ("ATC TIPL" or "ATC India") to Data Infrastructure Trust, an Infrastructure Investment Trust sponsored by an affiliate of Brookfield Asset Management (the "ATC TIPL Transaction"). The ATC TIPL Transaction qualified for presentation as discontinued operations. Prior to the divestiture and classification as discontinued operations, ATC TIPL's operating results were included within the Asia-Pacific property segment. Accordingly, the operating results of ATC TIPL are reported as discontinued operations for all periods presented. Plea
New Oracle Service on CoreSite's Open Cloud Exchange® Offers Ultra-Low-Bandwidth Connectivity to Customers with Applications Requiring Large-Scale Datasets CoreSite, a leading hybrid IT solutions provider and subsidiary of American Tower Corporation (NYSE:AMT) ("American Tower") and a member of Oracle PartnerNetwork (OPN), today announced the company is the first to launch new accelerated connections of up to 50 gigabits per second (Gbps) through Oracle Cloud Infrastructure (OCI) FastConnect on the Open Cloud Exchange® (OCX), CoreSite's software-defined networking platform. Now available in CoreSite's Los Angeles, Chicago, and Northern Virginia data center markets, this advancement enables
Waives Option to Classify Board Under Maryland Law Independence Realty Trust, Inc. (NYSE:IRT) ("IRT" or the "Company") today announced the appointment of Craig Macnab to its Board of Directors (the "Board"), effective February 29, 2024. Mr. Macnab brings over 20 years of experience to IRT's Board after serving in various executive and board roles in the REIT industry, including most recently as CEO of National Retail Properties, Inc. (NYSE:NNN) for 13 years. Mr. Macnab's appointment increases the size of IRT's Board to 10 members, including 8 independent directors. In connection with this announcement, the Company has entered into a cooperation agreement with Argosy-Lionbridge Management,
Charge Enterprises, Inc. (NASDAQ:CRGE) ("Charge" or the "Company"), announced today its Board of Directors has appointed Jacky Wu as an independent director, effective June 16, 2023. Mr. Wu's appointment expands the Board to ten members, six of whom are independent directors. Mr. Wu is currently the Executive Vice President and Chief Financial Officer of DigitalBridge Group, Inc., a global digital infrastructure investment firm (NYSE:DBRG). Prior to joining DigitalBridge, Mr. Wu was Executive Vice President and Chief Financial Officer of Driven Brands, Inc. (NASDAQ:DRVN), North America's largest automotive aftermarket platform. Prior to Driven Brands, Mr. Wu was Executive Vice President and
CoreSite, the leading hybrid IT solutions provider and subsidiary of American Tower Corporation (NYSE:AMT) ("American Tower"), today announced new senior leadership appointments effective immediately. This new executive management structure is designed to position the company for accelerated growth, while continuing to provide the native digital supply chain its valued enterprise, network, cloud and service integrator customers have come to depend on. CoreSite is now led by Juan Font, President of CoreSite and SVP of American Tower, reporting to Steve Vondran, Executive Vice President and President, U.S. Tower Division of American Tower ("U.S. Tower"). Font is responsible for leading CoreS
On September 12, 2024, American Tower Corporation (the "Company" or "American Tower") completed the sale of 100% of the equity interests in its operations in India ("ATC TIPL" or "ATC India") to Data Infrastructure Trust, an Infrastructure Investment Trust sponsored by an affiliate of Brookfield Asset Management (the "ATC TIPL Transaction"). The ATC TIPL Transaction qualified for presentation as discontinued operations. Prior to the divestiture and classification as discontinued operations, ATC TIPL's operating results were included within the Asia-Pacific property segment. Accordingly, the operating results of ATC TIPL are reported as discontinued operations for all periods presented. Plea
American Tower Corporation (NYSE:AMT) announced today that the press announcement of its third quarter 2024 results is scheduled to be released to the news services at 7:00 a.m. ET on Tuesday, October 29, 2024. In addition, the Company has scheduled a conference call at 8:30 a.m. ET on October 29, 2024 to discuss its results. Conference call details are as follows: Call Date: Tuesday, October 29, 2024 Call Time: 8:30 a.m. ET Call Dial in: (877) 692-8955 U.S./Canada (234) 720-6979 International Access Code: 8979882 Online Info: https://www.americantower.com/investor-relation
CONSOLIDATED HIGHLIGHTS Second Quarter 2024(1) Total revenue increased 4.6% to $2,900 million Property revenue increased 4.6% to $2,853 million Net income increased 96.8% to $908 million(2)(3) Adjusted EBITDA increased 8.1% to $1,890 million Net income attributable to AMT common stockholders increased 89.3% to $900 million(2)(3) AFFO attributable to AMT common stockholders increased 13.5% to $1,306 million American Tower Corporation (NYSE:AMT) today reported financial results for the quarter ended June 30, 2024. Steven Vondran, American Tower's Chief Executive Officer, stated, "The momentum from the start of the year extended into Q2, with core results highlighting
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American Tower (NYSE:AMT) has outperformed the market over the past 20 years by 5.92% on an annualized basis producing an average annual return of 14.32%. Currently, American Tower has a market capitalization of $98.80 billion. Buying $1000 In AMT: If an investor had bought $1000 of AMT stock 20 years ago, it would be worth $14,189.81 today based on a price of $211.57 for AMT at the time of writing. American Tower's Performance Over Last 20 Years Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time. This article was generated by Benzinga's automated conte
Verizon Communications Inc (NYSE:VZ) is reportedly considering a significant move to sell thousands of mobile phone towers across the U.S. Verizon has engaged advisors to assess potential buyers’ interest in a package comprising approximately 5,000 to 6,000 towers. A possible sale could yield over $3 billion, Bloomberg cites familiar sources, although discussions are in the early stages and do not guarantee a transaction. Also Read: Verizon And AT&T Clash Over $14B FirstNet Spectrum Proposal In 2015, Verizon offloaded lease and operational rights for about 11,000 towers to American Tower Corp (NYSE:AMT) for an upfront payment of $5 billion. This deal helped Verizon raise funds for a
Wells Fargo analyst Eric Luebchow maintains American Tower (NYSE:AMT) with a Overweight and raises the price target from $200 to $225.
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