Top 5 Stock Picks of Claar Advisors

3. American Tower Corporation (NYSE:AMT)

Claar Advisors LLC’s Stake Value: $18.4 million
Percentage of Claar Advisors LLC’s 13F Portfolio: 7.21%
No. of Hedge Fund Holders: 52

American Tower Corporation (NYSE:AMT) is one of the largest global REITs and a leading independent owner, operator, and developer of multitenant communications real estate.

American Tower Corporation (NYSE:AMT) has raised its 2022 outlook for attributable AFFO per share, despite recent foreign exchange rate challenges. Total property revenue of the company is expected between $10,280-$10,460 million. AFFO attributable to the common stockholders per share is expected to come between $9.62-$9.86.

KeyCorp increased its price objective on the shares of American Tower Corporation (NYSE:AMT) from $283.00 to $300.00. They gave an “Overweight” rating on 2^nd August.

According to Insider Monkey’s Q2 data, 52 hedge funds held stakes in American Tower Corporation (NYSE:AMT), with combined stakes of $4.37 billion. In the preceding quarter, 50 funds held stakes worth $4.1 billion.

ClearBridge Investments, an investment management firm, published its second quarter 2022 investor letter and mentioned American Tower Corporation (NYSE:AMT). Here is what the fund said:

“The top contributor was our sole real estate holding American Tower (NYSE:AMT), the leading independent wireless tower operator with roughly 221,000 properties globally, including about 43,000 in the U.S., 76,000 in India and 23,000 in Brazil. The company’s business model is to lease space on its towers to predominantly wireless carriers on a long-term basis, generally ranging 5–10 years in duration, with built-in price escalators. This approach results in a stable and predictable cash flow business with high incremental margins — attractive qualities especially in volatile markets like the second quarters.”