American Tower Descending Triangle Breakout, Too Cheap To Ignore

  • Post category:Stock Trading
  • Reading time:3 mins read
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American Tower AMT stock formed a downtrend channel breakout on June 30, 2023. AMT stock is in a technical downtrend.

AMT stock chart on July 2 2023 with a Descending Triangle Breakout chart pattern
AMT stock chart on July 2, 2023, with a Descending Triangle Breakout chart pattern

American Tower Corporation is a real estate investment trust (REIT) that specializes in owning, operating, and developing wireless and broadcast communications infrastructure. The company primarily focuses on constructing and leasing towers, rooftops, and other structures to wireless carriers, broadcasters, and other communication service providers. American Tower owns and operates a vast portfolio of communication sites globally, providing tenants with the necessary infrastructure to support their wireless networks. They offer a range of services, including site acquisition, zoning and permitting, tower construction and maintenance, equipment installation, and ongoing site management. The company’s towers and other structures serve as critical components of wireless networks, enabling the transmission of voice, data, and video signals. By providing this infrastructure, American Tower plays a pivotal role in the expansion and enhancement of communication networks, supporting the increasing demand for mobile and broadband services.

American Tower generates nearly 50% of its revenue overseas with major operators in India, Brazil, and Mexico.

Cell Tower REITs

Cell Tower REITs, which had lagged for the majority of the year, have outperformed all other property sectors over the past three months thanks to favorable macroshifts and advantageous sector-specific catalysts.

Tower Stocks Offer Attractive Entry Point

The pendulum has swung too far, according to a June 30, 2023, statement from Deutsche Bank, increasing the relative upside for tower stocks over the ensuing 12 months. Tower stocks now seem to offer an alluring entry point for investors looking to position more defensively following the recent market run, with more significant upside potential over a longer time horizon, Deutsche Bank told investors in a research note.

Ranking These 10 REITs from BEST to WORST

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