American Tower Corp Stock Research

Market Summary

USD191.15+4.14

Market Closed

2.21%

AMT Alerts

Big fall in earnings (Y/Y)

AMT Stock Price

AMT RSI Chart

AMT Valuation

Market Cap

87.2B

Price/Earnings (Trailing)

67.04

Price/Sales (Trailing)

8.06

EV/EBITDA

20.31

Price/Free Cashflow

40.47

AMT Price/Sales (Trailing)

AMT Profitability

EBT Margin

16.06%

Return on Equity

30.45%

Return on Assets

2.53%

Free Cashflow Yield

2.47%

AMT Fundamentals

AMT Revenue

Revenue (TTM)

10.8B

Revenue Y/Y

4.02%

Revenue Q/Q

2.3%

AMT Earnings

Earnings (TTM)

1.3B

Earnings Y/Y

-55.17%

Earnings Q/Q

141.84%

Price Action

52 Week Range

178.17280.43

(Low)(High)

Last 7 days

2.4%

Last 30 days

-4.6%

Last 90 days

-7.6%

Trailing 12 Months

-25.0%

AMT Financial Health

Current Ratio

0.44

Debt/Equity

6.13

Debt/Cashflow

0.11

AMT Investor Care

Shares Dilution (1Y)

2.21%

Diluted EPS (TTM)

2.98

Peers (Alternatives to American Tower)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
AMT	87.2B	10.8B	-4.65%	-24.97%	67.04	8.06	9.73%	-50.48%
EQIX	70.4B	7.5B	7.12%	11.96%	86.37	9.36	11.12%	65.88%
PSA	49.7B	4.3B	-1.18%	-10.19%	11.43	11.56	18.80%	113.99%
CCI	48.7B	7.0B	-5.37%	-37.90%	29.06	6.94	6.37%	52.83%
SBAC	23.9B	2.7B	-10.65%	-33.04%	63.92	8.89	13.00%	-14.61%
KIM	13.2B	1.7B	-4.07%	-25.83%	104.43	7.61	15.49%	-81.09%
MID-CAP
FRT	7.2B	1.1B	-8.78%	-21.04%	18.39	6.56	10.19%	46.60%
KRG	4.2B	814.4M	-5.06%	-2.82%	463.05	5.2	63.41%	107.43%
VNO	2.6B	1.8B	-4.02%	-58.75%	-6.97	1.42	9.23%	-286.27%
MAC	2.0B	857.9M	-7.05%	-14.51%	-23.33	2.38	-1.75%	-315.36%
SMALL-CAP
SKT	2.1B	421.5M	5.92%	21.93%	24.16	5.1	1.34%	437.34%
SLG	1.5B	862.4M	1.35%	-59.50%	-11.74	1.71	7.01%	-127.00%
AIV	1.2B	184.6M	5.87%	32.38%	13.03	6.51	2.55%	1950.56%
PGRE	925.3M	745.2M	0.47%	-52.12%	-24.32	1.24	2.17%	-183.81%

Financials for American Tower

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	1.0%	10,818	10,711	10,451	10,234	9,859
S&GA Expenses	-3.1%	942	972	964	939	923
Costs and Expenses	0.7%	8,415	8,359	7,664	7,273	6,830
EBITDA	-14.3%	6,212	7,249	6,816	6,404	-
EBITDA Margin	-16.4%	0.58*	0.69*	0.67*	0.65*	-
Earnings Before Taxes	-20.7%	1,364	1,721	3,008	2,930	2,852
EBT Margin	-44.2%	0.16*	0.29*	0.29*	0.29*	-
Interest Expenses	6.8%	1,214	1,137	1,057	989	926
Net Income	-23.4%	1,300	1,697	2,894	2,777	2,625
Net Income Margin	-43.0%	0.16*	0.28*	0.27*	0.27*	-
Free Cahsflow	20.3%	1,823	1,515	2,824	2,953	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	-0.6%	66,818	67,195	66,513	68,117	69,764
Current Assets	-4.8%	3,450	3,622	3,759	3,726	3,792
Cash Equivalents	-11.1%	1,803	2,028	2,122	2,067	1,942
Goodwill	0.3%	12,997	12,957	12,686	12,970	13,307
Liabilities	-0.4%	54,567	54,786	54,194	57,391	60,513
Current Liabilities	-9.4%	7,532	8,312	6,623	7,462	9,300
Long Term Debt	1.6%	34,686	34,156	35,314	37,240	38,155
LT Debt, Current	-14.6%	3,856	4,514	3,015	3,604	5,310
Shareholder's Equity	-3.0%	5,407	5,572	6,282	10,726	9,251
Retained Earnings	-18.8%	-2,496	-2,101	-689	-842	-1,072
Additional Paid-In Capital	0.2%	14,726	14,689	14,647	14,607	12,266
Shares Outstanding	0.1%	466	466	466	466	456
Minority Interest	0.1%	6,844	6,836	6,037	3,768	3,888

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	11.0%	4,103	3,696	3,190	4,354	4,391
Share Based Compensation	5.2%	178	169	160	149	138
Cashflow From Investing	10.0%	-2,118	-2,355	-11,673	-12,090	-20,766
Cashflow From Financing	-53.5%	-2,184	-1,423	7,181	8,082	16,654
Dividend Payments	3.5%	2,723	2,630	2,543	2,455	2,367
Buy Backs	-	19.00	-	-	-	-

Risks for AMT

What is the probability of a big loss on AMT?

54.2%

Probability that American Tower stock will be more than 20% underwater in next one year

13.5%

Probability that American Tower stock will be more than 30% underwater in next one year.

Probability that American Tower stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does AMT drawdown profile look like?

Y-axis is the maximum loss one would have experienced if American Tower was unfortunately bought at previous high price.

Drawdowns

Returns for AMT

Cumulative Returns on AMT

11.2%

10-Year Cumulative Returns

10.4%

7-Year Cumulative Returns

8.1%

5-Year Cumulative Returns

-9.3%

3-Year Cumulative Returns

What are the long-term rolling returns for AMT?

FIve years rolling returns for American Tower.

Annualized Returns

Which funds bought or sold AMT recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-06-01	Golden State Equity Partners	new	-	370,468	370,468	0.20%
2023-06-01	PRELUDE CAPITAL MANAGEMENT, LLC	added	358	3,304,650	4,270,090	0.26%
2023-06-01	MACQUARIE GROUP LTD	reduced	-1.98	-5,648,090	113,471,000	0.14%
2023-05-31	Coastline Trust Co	reduced	-0.21	-15,195	389,881	0.06%
2023-05-30	Aspire Private Capital, LLC	added	1.33	-4,489	186,921	0.06%
2023-05-26	Fortis Group Advisors, LLC	new	-	251,425	251,425	0.08%
2023-05-26	CYPRESS ASSET MANAGEMENT INC/TX	sold off	-100	-219,275	-	-%
2023-05-26	SHEETS SMITH WEALTH MANAGEMENT	unchanged	-	-11,611	315,501	0.05%
2023-05-26	ProShare Advisors LLC	added	15.51	2,804,500	27,376,500	0.08%
2023-05-25	Legato Capital Management LLC	unchanged	-	-133,292	3,621,930	0.66%

Latest Funds Activity

Are funds buying AMT calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own AMT

No. of Funds

AMT Alerts

Big fall in earnings (Y/Y)

American Tower News

Schedule 13G FIlings of American Tower

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	vanguard group inc	13.19%	61,431,926	SC 13G/A
Jan 31, 2023	blackrock inc.	7.7%	35,910,225	SC 13G/A
Feb 09, 2022	vanguard group inc	12.99%	59,157,936	SC 13G/A
Feb 01, 2022	blackrock inc.	8.0%	36,636,712	SC 13G/A
Feb 10, 2021	vanguard group inc	12.63%	56,124,669	SC 13G/A
Jan 29, 2021	blackrock inc.	7.7%	34,348,573	SC 13G/A
Feb 11, 2020	vanguard group inc	13.19%	58,454,147	SC 13G/A
Feb 05, 2020	blackrock inc.	7.3%	32,118,657	SC 13G/A
Jan 28, 2020	wellington management group llp	3.94%	17,454,893	SC 13G/A

AMT Fair Value

Show Fair-Value

Recent SEC filings of American Tower

View All Filings

Date Filed	Form Type	Document
May 25, 2023	8-K	Current Report
May 25, 2023	8-K	Current Report
May 24, 2023	4	Insider Trading
May 23, 2023	424B2	Prospectus Filed
May 23, 2023	CERT	CERT
May 22, 2023	424B5	Prospectus Filed
May 22, 2023	8-K	Current Report
May 22, 2023	FWP	Prospectus Filed
May 16, 2023	8-A12B	8-A12B
May 16, 2023	8-K	Current Report

Latest Insider Trading transactions for AMT

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-05-01	Smith Rodney M	sold (taxes)	-485,184	199	-2,432	evp, cfo & treasurer
2023-05-01	Bartlett Thomas A	sold (taxes)	-1,933,750	199	-9,693	president and ceo
2023-03-11	DiSanto Edmund	sold (taxes)	-179,985	191	-941	-
2023-03-11	Meyer Robert Joseph JR	sold (taxes)	-80,142	191	-419	svp & chief accounting officer
2023-03-11	Vondran Steven O	sold (taxes)	-112,084	191	-586	evp & president, u.s. tower
2023-03-11	Puech Olivier	sold (taxes)	-96,208	191	-503	evp & president, latam & emea
2023-03-11	Dowling Ruth T	sold (taxes)	-37,297	191	-195	evp, chief admin ofr, gc & sec
2023-03-11	Smith Rodney M	sold (taxes)	-100,034	191	-523	evp, cfo & treasurer
2023-03-11	Bartlett Thomas A	sold (taxes)	-189,931	191	-993	president and ceo
2023-03-10	Tanner Bruce L	acquired	-	-	1,072	-

About American Tower

Thomas A. Bartlett

www.americantower.com

6380

American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Ã‚â€œEarnings MaterialsÃ‚â€ and Ã‚â€œInvestor PresentationsÃ‚â€ sections of our investor relations website at www.americantower.com.

AMT Income Statement

2023-03-31

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
REVENUES:
Total operating revenues	$ 2,767.2	$ 2,660.3
Costs of operations (exclusive of items shown separately below):
Property	787.0	771.5
Depreciation, amortization and accretion	794.1	815.8
Selling, general, administrative and development expense	263.9	293.9
Other operating expenses	127.5	26.1
Total operating expenses	1,991.6	1,935.2
OPERATING INCOME	775.6	725.1
OTHER INCOME (EXPENSE):
Interest income	30.8	9.9
Interest expense	(340.2)	(262.4)
Other (expense) income (including foreign currency (losses) gains of $(84.1) and $242.1, respectively)	(97.8)	252.6
Total other (expense) income	(407.2)	0.1
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	368.4	725.2
Income tax provision	(53.4)	(22.5)
NET INCOME	315.0	702.7
Net loss attributable to noncontrolling interests	20.8	9.0
NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION COMMON STOCKHOLDERS, BASIC	335.8	711.7
NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION COMMON STOCKHOLDERS, DILUTED	$ 335.8	$ 711.7
NET INCOME PER COMMON SHARE AMOUNTS:
Basic net income attributable to American Tower Corporation common stockholders (in dollars per share)	$ 0.72	$ 1.56
Diluted net income attributable to American Tower Corporation common stockholders (in dollars per share)	$ 0.72	$ 1.56
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (in thousands):
BASIC (in shares)	465,741	455,946
DILUTED (in shares)	466,810	457,211
Property
REVENUES:
Total operating revenues	$ 2,714.5	$ 2,600.8
Services
REVENUES:
Total operating revenues	52.7	59.5
Costs of operations (exclusive of items shown separately below):
Services	$ 19.1	$ 27.9

AMT Balance Sheet

2023-03-31

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 1,803.0	$ 2,028.4
Restricted cash	122.4	112.3
Accounts receivable, net	705.4	758.3
Prepaid and other current assets	819.3	723.3
Total current assets	3,450.1	3,622.3
PROPERTY AND EQUIPMENT, net	19,843.3	19,998.3
GOODWILL	12,997.2	12,956.7
OTHER INTANGIBLE ASSETS, net	17,637.1	17,983.3
DEFERRED TAX ASSET	107.4	129.2
DEFERRED RENT ASSET	3,160.3	3,039.1
RIGHT-OF-USE ASSET	8,952.4	8,918.9
NOTES RECEIVABLE AND OTHER NON-CURRENT ASSETS	669.9	546.7
TOTAL	66,817.7	67,194.5
CURRENT LIABILITIES:
Accounts payable	206.0	218.6
Accrued expenses	1,171.6	1,344.2
Distributions payable	745.3	745.3
Accrued interest	208.5	261.0
Current portion of operating lease liability	790.1	788.9
Current portion of long-term obligations	3,856.4	4,514.2
Unearned revenue	554.2	439.7
Total current liabilities	7,532.1	8,311.9
LONG-TERM OBLIGATIONS	34,685.6	34,156.0
OPERATING LEASE LIABILITY	7,576.9	7,591.9
ASSET RETIREMENT OBLIGATIONS	2,093.5	2,047.4
DEFERRED TAX LIABILITY	1,505.6	1,492.0
OTHER NON-CURRENT LIABILITIES	1,173.7	1,186.8
Total liabilities	54,567.4	54,786.0
COMMITMENTS AND CONTINGENCIES
EQUITY (shares in thousands):
Common stock: $.01 par value; 1,000,000 shares authorized; 477,042 and 476,623 shares issued; and 466,038 and 465,619 shares outstanding, respectively	4.8	4.8
Additional paid-in capital	14,725.6	14,689.0
Distributions in excess of earnings	(2,496.5)	(2,101.9)
Accumulated other comprehensive loss	(5,526.1)	(5,718.3)
Treasury stock (11,004 shares at cost)	(1,301.2)	(1,301.2)
Total American Tower Corporation equity	5,406.6	5,572.4
Noncontrolling interests	6,843.7	6,836.1
Total equity	12,250.3	12,408.5
TOTAL	$ 66,817.7	$ 67,194.5