With an annual dividend yield of 3.87%, American Tower Corporation (NYSE:AMT) is included among the 10 Best High-Yield Dividend Growth Stocks to Buy Right Now.
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On April 16, Barclays lowered the firm’s price recommendation on American Tower Corporation (NYSE:AMT) to $195 from $200. It reiterated an Equal Weight rating on the shares. The firm said it updated its models within the communication infrastructure group.
On April 15, Mizuho analyst Vikram Malhotra upgraded AMT to Outperform from Neutral. The firm also raised the price target to $205 from $189. The analyst noted that the stock has fallen 19% over the past 12 months, while REITs are up 10% over the same period. The view is that several negatives are already reflected in the share price. The firm pointed to two potential drivers for a re-rating. It expects fundamentals in the US and certain international cell tower markets to improve. It also sees the data center business as “materially undervalued with several paths to unlocking value,” according to the analyst.
American Tower Corporation (NYSE:AMT) operates as a global real estate investment trust and an independent owner, operator, and developer of multitenant communications real estate. The company has a portfolio of nearly 150,000 communications sites and a connected network of data center facilities across the United States.
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