Investors focused on the Finance space have likely heard of American Tower Corporation REIT (AMT), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of AMT and the rest of the Finance group’s stocks.
American Tower Corporation REIT is one of 901 individual stocks in the Finance sector. Collectively, these companies sit at #14 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. AMT is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AMT’s full-year earnings has moved 0.35% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, AMT has gained about 6.47% so far this year. In comparison, Finance companies have returned an average of -13.39%. This shows that American Tower Corporation REIT is outperforming its peers so far this year.
Looking more specifically, AMT belongs to the REIT and Equity Trust – Other industry, a group that includes 119 individual stocks and currently sits at #213 in the Zacks Industry Rank. This group has lost an average of 2.82% so far this year, so AMT is performing better in this area.
Investors in the Finance sector will want to keep a close eye on AMT as it attempts to continue its solid performance.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.