WallStSmart

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

VS

Smart Verdict

WallStSmart Research — data-driven comparison

American Tower Corp generates 1352% more annual revenue ($10.82B vs $745.20M). FR leads profitability with a 46.0% profit margin vs 26.8%. AMT appears more attractively valued with a PEG of 1.97. AMT earns a higher WallStSmart Score of 72/100 (B).

AMT

Strong Buy

72

out of 100

Grade: B

Growth: 6.7Profit: 9.0Value: 5.3Quality: 3.0
Piotroski: 4/9Altman Z: 0.36

FR

Strong Buy

66

out of 100

Grade: B-

Growth: 8.0Profit: 8.0Value: 3.3Quality: 3.3
Piotroski: 3/9Altman Z: 0.98
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

AMTUndervalued (+7.0%)

Margin of Safety

+7.0%

Fair Value

$194.13

Current Price

$194.12

$0.01 discount

UndervaluedFair: $194.13Overvalued
FRSignificantly Overvalued (-41.8%)

Margin of Safety

-41.8%

Fair Value

$41.89

Current Price

$61.58

$19.69 premium

UndervaluedFair: $41.89Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

AMT5 strengths · Avg: 9.6/10
Return on EquityProfitability
78.8%10/10

Every $100 of equity generates 79 in profit

Operating MarginProfitability
45.9%10/10

Strong operational efficiency at 45.9%

EPS GrowthGrowth
76.9%10/10

Earnings expanding 76.9% YoY

Market CapQuality
$86.44B9/10

Large-cap with strong market position

Profit MarginProfitability
26.8%9/10

Keeps 27 of every $100 in revenue as profit

FR4 strengths · Avg: 9.5/10
Profit MarginProfitability
46.0%10/10

Keeps 46 of every $100 in revenue as profit

Operating MarginProfitability
35.0%10/10

Strong operational efficiency at 35.0%

EPS GrowthGrowth
199.7%10/10

Earnings expanding 199.7% YoY

Price/BookValuation
3.0x8/10

Reasonable price relative to book value

Areas to Watch

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

Expensive relative to growth rate

P/E RatioValuation
29.9x4/10

Moderate valuation

Price/BookValuation
25.7x2/10

Trading at 25.7x book value

Altman Z-ScoreHealth
0.362/10

Distress zone — elevated risk

FR3 concerns · Avg: 2.3/10
Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

PEG RatioValuation
3.742/10

Expensive relative to growth rate

Altman Z-ScoreHealth
0.982/10

Distress zone — elevated risk

Comparative Analysis Report

WallStSmart Research

Bull Case : AMT

The strongest argument for AMT centers on Return on Equity, Operating Margin, EPS Growth. Profitability is solid with margins at 26.8% and operating margin at 45.9%.

Bull Case : FR

The strongest argument for FR centers on Profit Margin, Operating Margin, EPS Growth. Profitability is solid with margins at 46.0% and operating margin at 35.0%.

Bear Case : AMT

The primary concerns for AMT are PEG Ratio, P/E Ratio, Price/Book. Debt-to-equity of 12.36 is elevated, increasing financial risk.

Bear Case : FR

The primary concerns for FR are Piotroski F-Score, PEG Ratio, Altman Z-Score.

Key Dynamics to Monitor

FR carries more volatility with a beta of 1.08 — expect wider price swings.

FR is growing revenue faster at 10.0% — sustainability is the question.

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

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

Bottom Line

AMT scores higher overall (72/100 vs 66/100), backed by strong 26.8% margins. Both earn "Strong Buy" and "Strong 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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