Is American Tower Stock a Buy?
Communications real estate investment trust (REIT) American Tower (NYSE: AMT) has had a tough year. Macroeconomic pressures are weighing on the company and as a result, this top-tier stock sits down more than 18% in the past year.
Does today's discount make this leading REIT a buy right now or is it a stock to steer clear of for the time being?
Despite headwinds last year, American Tower finished strong in 2022. The REIT, which owns and leases roughly 225,000 communications assets ranging from cellphone towers, antennas, and data center facilities around the globe, saw revenue rise 14.5% while its adjusted funds from operations (AFFO) a key financial metric for REITs, rose by 7.1%.
Source Fool.com
