Real Estate Sector Ideas

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>>> American Tower Corporation (NYSE:AMT) -- Average Analyst Price Target: $231.93

https://finance.yahoo.com/news/14-best-real-estate-realty-131053697.html

Upside Potential: 14.95%

Number of Hedge Fund Holders: 56

American Tower Corporation (NYSE:AMT) is another telecom tower REIT on our list of the best real estate stocks to buy. It is based in Boston, Massachusetts, and is an independent owner, operator, and developer of multitenant communications real estate.

An Overweight rating and a $230 price target were maintained on American Tower Corporation (NYSE:AMT) on February 28 by JPMorgan analysts.

We saw 56 hedge funds long American Tower Corporation (NYSE:AMT) in the fourth quarter, with a total stake value of $3.2 billion.

Baron Funds mentioned American Tower Corporation (NYSE:AMT) in its fourth-quarter 2023 investor letter:

“Early in 2023, we sold the majority of our position in American Tower Corporation (NYSE:AMT), a global operator of over 200,000 wireless towers, and even further reduced our modest position in the third quarter of 2023. We had concluded in late 2022 and early 2023 that growth expectations were too high given forthcoming headwinds from significantly higher financing costs (20%-plus exposure to floating rate debt), upcoming debt maturities, continued payment shortfalls from a key tenant in India, foreign exchange headwinds, and a reduction in mobile carrier capital expenditures.

Following a sharp decline in American Tower’s shares in the first nine months of 2023, we began rebuilding our position because we believed that the company’s shares had become more attractively valued, growth headwinds were better understood, and the potential monetization event of its India business would ultimately be value accretive to its business. Further, we believe that 2023 will mark the trough in earnings growth for American Tower and growth should reaccelerate in the next few years.”

Like KE Holdings Inc (NYSE:BEKE), Crown Castle International Corp. (NYSE:CCI), and Realty Income Corporation (NYSE:O), American Tower Corporation (NYSE:AMT) is among the best real estate stocks to buy now.

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