WallStSmart

American Tower Corp (AMT)vsNet Lease Office Properties (NLOP)

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Smart Verdict

WallStSmart Research — data-driven comparison

American Tower Corp generates 10115% more annual revenue ($10.82B vs $105.92M). AMT leads profitability with a 26.8% profit margin vs -137.1%. AMT earns a higher WallStSmart Score of 72/100 (B).

AMT

Strong Buy

72

out of 100

Grade: B

Growth: 6.7Profit: 9.0Value: 6.0Quality: 3.8
Piotroski: 4/9Altman Z: 0.33

NLOP

Hold

42

out of 100

Grade: D

Growth: 4.7Profit: 3.0Value: 6.7Quality: 5.5
Piotroski: 3/9Altman Z: 0.68
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

AMTUndervalued (+17.6%)

Margin of Safety

+17.6%

Fair Value

$219.10

Current Price

$182.71

$36.39 discount

UndervaluedFair: $219.10Overvalued
NLOPUndervalued (+60.2%)

Margin of Safety

+60.2%

Fair Value

$48.97

Current Price

$13.06

$35.91 discount

UndervaluedFair: $48.97Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

AMT5 strengths · Avg: 9.4/10
Operating MarginProfitability
45.3%10/10

Strong operational efficiency at 45.3%

EPS GrowthGrowth
76.9%10/10

Earnings expanding 76.9% YoY

Market CapQuality
$85.12B9/10

Large-cap with strong market position

Return on EquityProfitability
29.9%9/10

Every $100 of equity generates 30 in profit

Profit MarginProfitability
26.8%9/10

Keeps 27 of every $100 in revenue as profit

NLOP3 strengths · Avg: 9.7/10
Price/BookValuation
0.7x10/10

Reasonable price relative to book value

EPS GrowthGrowth
223.1%10/10

Earnings expanding 223.1% YoY

Debt/EquityHealth
0.119/10

Conservative balance sheet, low leverage

Areas to Watch

AMT4 concerns · Avg: 3.0/10
PEG RatioValuation
1.974/10

Expensive relative to growth rate

P/E RatioValuation
29.5x4/10

Moderate valuation

Price/BookValuation
24.2x2/10

Trading at 24.2x book value

Altman Z-ScoreHealth
0.332/10

Distress zone — elevated risk

NLOP4 concerns · Avg: 2.8/10
Market CapQuality
$195.69M3/10

Smaller company, higher risk/reward

Operating MarginProfitability
4.3%3/10

Operating margin of 4.3%

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

Return on EquityProfitability
-32.9%2/10

ROE of -32.9% — below average capital efficiency

Comparative Analysis Report

WallStSmart Research

Bull Case : AMT

The strongest argument for AMT centers on Operating Margin, EPS Growth, Market Cap. Profitability is solid with margins at 26.8% and operating margin at 45.3%.

Bull Case : NLOP

The strongest argument for NLOP centers on Price/Book, EPS Growth, Debt/Equity.

Bear Case : AMT

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

Bear Case : NLOP

The primary concerns for NLOP are Market Cap, Operating Margin, Piotroski F-Score.

Key Dynamics to Monitor

AMT profiles as a mature stock while NLOP is a turnaround play — different risk/reward profiles.

AMT carries more volatility with a beta of 0.93 — expect wider price swings.

AMT is growing revenue faster at 6.8% — sustainability is the question.

AMT generates stronger free cash flow (951M), providing more financial flexibility.

Bottom Line

AMT scores higher overall (72/100 vs 42/100), backed by strong 26.8% margins. NLOP offers better value entry with a 60.2% margin of safety. Both earn "Strong Buy" and "Hold" 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.

Net Lease Office Properties

REAL ESTATE · REIT - OFFICE · USA

Net Lease Office Properties (NLOP) is a premier real estate investment trust (REIT) specializing in the acquisition and management of high-quality net leased office properties throughout the United States. The company's robust portfolio features long-term leases with financially stable tenants, enabling reliable cash flows and risk mitigation. By focusing on key metropolitan areas with strong demand trends, NLOP is well-positioned for growth and value creation. Its disciplined capital management and proactive acquisition strategy further enhance its appeal as an attractive investment option for institutional investors seeking exposure to the commercial real estate sector.

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