With a market cap of $96.7 billion, American Tower Corporation (AMT) is one of the world’s largest global REITs, specializing in owning, operating, and developing multitenant communications real estate. With a portfolio of over 149,000 communications sites and a growing network of U.S. data center facilities, it provides infrastructure solutions that support wireless connectivity worldwide.
Shares of the Boston, Massachusetts-based company have lagged behind the broader market over the past 52 weeks. AMT stock has dropped 7.7% over this time frame, while the broader S&P 500 Index ($SPX) has increased 20.1%. Moreover, shares of American Tower are up 12.6% on a YTD basis, compared to SPX’s 8.6% rise.
