US stock futures edge lower after S&P 500 hits record high; PCE data in focus
BOSTON - American Tower Corporation (NYSE:AMT), a $99 billion market cap REIT with a robust 3.2% dividend yield, announced Monday the appointment of Gene Reilly to its Board of Directors.
Reilly most recently served as Vice Chairman of Prologis, Inc., and remained an advisor through April 2024. His career at Prologis (formerly AMB Property Corporation) began in 2003, where he held several leadership positions including Chief Investment Officer from 2019 to 2023 and Chief Executive of the Americas from 2011 to 2019.
With 40 years of experience in real property investment, management and operations, Reilly previously served as Chief Investment Officer of Cabot Properties, Inc., a private equity industrial real estate firm, where he was a founding partner and board member. His industry involvement includes serving on the technical committee of FIBRA Prologis and on the board and executive committee of the National Association of Industrial and Office Properties.
"Gene’s decades of experience in real estate investment and operations across the Americas, combined with his deep expertise in portfolio strategy, make him a strong fit with our Core Principles," said Steve Vondran, President and Chief Executive Officer of American Tower, in a press release statement. The company has maintained dividend payments for 15 consecutive years, with InvestingPro data showing a 4.9% dividend growth over the last twelve months.
American Tower, one of the largest global REITs, owns and operates nearly 150,000 communications sites worldwide and maintains a network of U.S. data center facilities. According to InvestingPro analysis, the company maintains a GOOD overall financial health score, though current trading levels suggest the stock may be overvalued. For detailed insights and additional ProTips about American Tower’s valuation and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, American Tower Corp. reported mixed results for the second quarter of 2025, but it raised its guidance for property revenue, EBITDA, and AFFO per share for the year. The company also increased its net organic growth forecast for Latin America and Africa/Asia Pacific regions. S&P Global Ratings upgraded American Tower to ’BBB+’ with a stable outlook, highlighting the company’s stable and predictable earnings growth and strong margins from its U.S. tower business.
TD Cowen raised its price target for American Tower to $249, maintaining a Buy rating, while noting the company’s updated guidance. In contrast, HSBC downgraded American Tower to Hold, reducing its price target to $235 due to a perceived lack of strong catalysts in the near term. JMP Securities maintained a $260 price target, emphasizing American Tower’s potential benefit from global network expansions. BMO Capital lowered its price target slightly to $245, maintaining an Outperform rating, and noted strength in the company’s international markets, data centers, and services segments.
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