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American Tower Beats Estimates and Raises Guidance

publication date: May 26, 2022
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Image Shown: An overview of American Tower Corporation’s global asset base. Image Source: American Tower Corporation – First Quarter of 2022 IR Earnings Presentation. 

American Tower Corp is a real estate investment trust (‘REIT’) with a global portfolio of ~221,000 multi-tenant communications properties. We include American Tower as an idea in the High Yield Dividend Newsletter portfolio as its dividend growth track record and outlook are rock-solid. Shares of AMT yield ~2.3% as of this writing. Historically, the REIT has generated substantial “excess” free cash flows (after fully covering its total distribution obligations). Looking ahead, American Tower should continue to be a cash flow cow, highlighting one of the reasons we are big fans of the REIT.

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