American Tower: Steadily Growing Long-Term Demand Drivers, Shares Attractive

Justin Purohit2.47K FollowersFollow5ShareSavePlay(9min)CommentsSummaryShares in leading telecommunications REIT American Tower Corporation are trading at the midpoint of its 52-week range following a 6% increase over the past month.While the REIT has outperformed its sector peers YTD, both AMT and the sector have lagged broader markets over the past year.I believe AMT’s operating results will remain supported by its long-term demand driver of continuously increasing wireless data usage.I view shares as a Buy for investors seeking a mainstay portfolio holding. imaginima/iStock via Getty Images American Tower Corporation (AMT) is a real estate investment trust (“REIT”) that owns, operates, and develops multitenant communications real estate. This includes the tower structure, land parcel, and the backup power. In essence, their property holdings are This article was written byJustin Purohit2.47K FollowersFollowProviding timely and quick to the punch analysis of earnings and macro-related events across various sectors, with a focus on retail and real estate. I am a licensed CPA.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.