WallStSmart

American Tower Corp (AMT)vsFirst Industrial Realty Trust Inc (FR)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

American Tower Corp generates 1363% more annual revenue ($10.64B vs $727.56M). FR leads profitability with a 34.0% profit margin vs 23.8%. AMT appears more attractively valued with a PEG of 1.95. AMT earns a higher WallStSmart Score of 62/100 (C+).

AMT

Buy

62

out of 100

Grade: C+

Growth: 4.0Profit: 8.5Value: 3.3Quality: 3.8
Piotroski: 4/9Altman Z: 0.33

FR

Buy

58

out of 100

Grade: C

Growth: 7.3Profit: 8.0Value: 3.3Quality: 5.0
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

AMTSignificantly Overvalued (-390.6%)

Margin of Safety

-390.6%

Fair Value

$36.79

Current Price

$169.52

$132.73 premium

UndervaluedFair: $36.79Overvalued
FRFair Value (-2.0%)

Margin of Safety

-2.0%

Fair Value

$58.19

Current Price

$57.18

$1.01 premium

UndervaluedFair: $58.19Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

AMT4 strengths · Avg: 9.3/10
Operating MarginProfitability
44.9%10/10

Strong operational efficiency at 44.9%

Market CapQuality
$79.36B9/10

Large-cap with strong market position

Return on EquityProfitability
26.3%9/10

Every $100 of equity generates 26 in profit

Profit MarginProfitability
23.8%9/10

Keeps 24 of every $100 in revenue as profit

FR3 strengths · Avg: 9.3/10
Profit MarginProfitability
34.0%10/10

Keeps 34 of every $100 in revenue as profit

Operating MarginProfitability
42.1%10/10

Strong operational efficiency at 42.1%

Price/BookValuation
2.8x8/10

Reasonable price relative to book value

Areas to Watch

AMT4 concerns · Avg: 3.0/10
PEG RatioValuation
1.954/10

Expensive relative to growth rate

P/E RatioValuation
31.3x4/10

Premium valuation, high expectations priced in

Price/BookValuation
21.7x2/10

Trading at 21.7x book value

EPS GrowthGrowth
-33.2%2/10

Earnings declined 33.2%

FR3 concerns · Avg: 2.7/10
P/E RatioValuation
30.6x4/10

Premium valuation, high expectations priced in

PEG RatioValuation
3.742/10

Expensive relative to growth rate

Free Cash FlowQuality
$-508.18M2/10

Negative free cash flow — burning cash

Comparative Analysis Report

WallStSmart Research

Bull Case : AMT

The strongest argument for AMT centers on Operating Margin, Market Cap, Return on Equity. Profitability is solid with margins at 23.8% and operating margin at 44.9%.

Bull Case : FR

The strongest argument for FR centers on Profit Margin, Operating Margin, Price/Book. Profitability is solid with margins at 34.0% and operating margin at 42.1%.

Bear Case : AMT

The primary concerns for AMT are PEG Ratio, P/E Ratio, Price/Book.

Bear Case : FR

The primary concerns for FR are P/E Ratio, PEG Ratio, Free Cash Flow.

Key Dynamics to Monitor

FR carries more volatility with a beta of 1.12 — expect wider price swings.

FR is growing revenue faster at 7.7% — sustainability is the question.

AMT generates stronger free cash flow (848M), providing more financial flexibility.

Monitor REIT - SPECIALTY industry trends, competitive dynamics, and regulatory changes.

Bottom Line

AMT scores higher overall (62/100 vs 58/100), backed by strong 23.8% margins. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

American Tower Corp

REAL ESTATE · REIT - SPECIALTY · USA

American Tower Corporation (also referred to as American Tower or ATC) is an American real estate investment trust and an owner and operator of wireless and broadcast communications infrastructure in several countries worldwide and is headquartered in Boston, Massachusetts.

First Industrial Realty Trust Inc

REAL ESTATE · REIT - INDUSTRIAL · USA

First Industrial Realty Trust, Inc. (NYSE: FR) is a leading fully integrated industrial real estate owner, operator, and developer with a history of providing industry-leading customer service to multinational corporations and regional clients.

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