Jim Cramer Looked At These 23 Stocks Recently

19. American Tower Corporation (NYSE:AMT)

Number of Hedge Fund Holders: 70

Commenting on American Tower Corporation (NYSE:AMT), Mad Money’s host said:

“The REITs rule in real estate, that’s the seventh best performing group, the real estate group and we have three very different ones, showing the broad nature of this rally in this part, the subset… Then American Tower, which is the REIT that owns cell towers… I mean call this a paragon of diversity here.”

American Tower (NYSE:AMT) is a well-known global REIT. The company is an independent owner, operator, and developer of multi-tenant communications real estate. Meridian Hedged Equity Fund stated the following regarding American Tower Corporation (NYSE:AMT) in its Q4 2024 investor letter:

“American Tower Corporation (NYSE:AMT) is a leading global owner and operator of wireless communications infrastructure, with a portfolio spanning the U.S. and key international markets. We hold American Tower for its exposure to the secular growth in wireless data consumption and its strategic positioning in underpenetrated emerging markets. The company benefits from long-term contracts with investment-grade wireless carriers, providing strong visibility into future cash flows. This quarter, performance was mixed. Revenue met expectations but fell short of consensus. Adjusted EBITDA declined slightly year-over year, impacted by the divestiture of its India business and elevated bad debt expense. However, organic tenant billings growth remained healthy, with U.S. and international markets posting solid growth. While we maintain conviction in American Tower’s ability to benefit from increasing data consumption and 5G network deployments, near-term currency headwinds and regional challenges warrant monitoring.”