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Why American Tower Fell 14% in January

TheMotleyFool

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Stock in American Tower (NYSE: AMT) fell 14% in January, according to data provided by S&P Global Market Intelligence. One of the largest of all real estate investment trusts (REITs), with a market cap of roughly $112 billion, can now be had for about $245 a share.

American Tower's pullback last month was significantly larger than the S&P 500's drop of about 5%. The stock had gained 19% in 2021, so some profit-taking was in store. Other reasons this telecommunications tower giant sold off include a JPMorgan Chase analyst's downgrade from "neutral" to "underweight" early in the month.

Image source: Getty Images.

Source Fool.com

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