Down 32%, This Towering Growth Stock Is Starting to Look Like a Bargain
Most stocks have lost ground this year, leaving many to trade at much more attractive valuations. That's certainly the case for American Tower (NYSE: AMT).
Despite this year's headwinds, the global tower and data center operator has continued to grow its cash flow. With its share price falling, it's beginning to look like a bargain, especially given the dual growth catalysts it sees ahead.
American Tower faced its share of challenges in the third quarter. Despite those issues, the infrastructure REIT's total revenue rose 8.8%. It benefited from last year's acquisition of data center REIT CoreSite and continued organic tenant billings growth, which came in at 2.6% in the period.
Source Fool.com
