With T-Mobile now on target to complete its merger with Sprint by April 1, putting DISH in the driver’s seat on becoming the nation’s fourth-largest wireless services company, tower companies are likely to benefit from the rollout of 5G spurred by the companies’ moves.
As such, American Tower Corp. shares lifted by more than 4% on Tuesday.
At the closing bell, AMT shares were up $10.58 a share, to $254.27.
It continues a strong year-to-date pattern for American Tower, which began 2020 at $229.51.
Furthermore, it establishes yet another record high on Wall Street for the company founded by the late Steve Dodge.
AMT was trading around $42.60 a decade ago; in January 2017 it propelled past the $100 mark in earnest, and hasn’t looked back.
American Tower’s Q4 and full-year 2019 earnings report is due Feb. 25. AMT went ex-dividend on Dec. 26, 2019.