{
  "symbol": "AMT",
  "company": "American Tower Corporation",
  "generated_at": "2026-06-24T07:36:44.763Z",
  "event_count": 6,
  "events": [
    {
      "type": "pipeline_event",
      "ts": "2026-06-22T00:29:36.616Z",
      "stage": "scout",
      "outcome": "failed",
      "reason": null,
      "trigger": "watchlist rotation · core · ai-buildout",
      "source": "watchlist"
    },
    {
      "type": "analyst_decision",
      "ts": "2026-05-22T04:49:02.796Z",
      "skip": true,
      "reason": "Score falls well below threshold due to zero insider conviction, elevated valuation multiples (Fwd P/E 26.6x, EV/EBITDA 19.4x), and unaddressed anti-signal gates (tenant concentration and equity dilution overhang). No long or income structure justifies publishing at this bar.",
      "score": 11,
      "breakdown": {
        "smart_money": 0,
        "options_flow": 0,
        "catalyst": 5,
        "mispricing": 0,
        "quality": 0,
        "technical": 6
      },
      "debug_path": "drafts/2026-05-22-AMT.analyst.debug.json"
    },
    {
      "type": "scout_dossier",
      "ts": "2026-05-22T04:48:43.057Z",
      "summary": "AMT is a $85.6B global tower REIT with ~150K communications sites leased to carriers. The investigation was triggered by 3 recent 8-Ks: (1) €750M 4.000% senior notes due 2033 issued May 19 — a proactive liability management move amid rising rates; (2) amendment of the $6B multicurrency revolving credit facility and related loans extending maturities to 2029-2031 with added acquisition conditionality; and (3) Q2 distribution declaration ($1.79/share, July 13 record). The Bernstein upgrade to Outperform with a $207 price target landed May 19 — bullish sentiment that has since pushed the stock off its March lows but still ~22% below the 52-week high of $234.33. No insider open-market buys in the past 90 days; director departure Form-4 was purely a board exit (no signal). The business is fundamentally healthy with strong margins and recurring revenue, but near-term upside appears capped by elevated leverage ratios and macro rate sensitivity. The most structured opportunity here is an income strategy exploiting elevated IV from recent volatility.",
      "verdict": "range_bound_or_income",
      "confidence": 4,
      "tool_calls": 17,
      "walltime_min": 22,
      "debug_path": "dossiers/2026-05-22-AMT.scout.debug.json"
    },
    {
      "type": "scout_dossier",
      "ts": "2026-05-15T07:17:29.340Z",
      "summary": "{\"symbol\":\"AMT\",\"company\":\"American Tower Corporation\",\"investigation_summary\":\"AMT is a global communications-infrastructure REIT with ~150K tower sites and CoreSite data centers. The stock has underperformed badly (YTD -14%, down ~27% from 52w high) despite Q1 2026 delivering an AFFO beat ($2.84 vs $2.50 estimate) and raising FY26 guidance — the disconnect between fundamentals and price is notab",
      "verdict": "unparseable",
      "tool_calls": 18,
      "walltime_min": 28,
      "debug_path": "dossiers/2026-05-15-AMT.scout.debug.json"
    },
    {
      "type": "analyst_decision",
      "ts": "2026-05-08T09:05:39.465Z",
      "skip": true,
      "reason": "Score of 11 falls well below the 50 threshold. The dossier shows no insider buying, no meaningful mispricing (trading at sector-average multiples), and structural quality metrics (ROIC 4.9%, net debt/EBITDA 7x) that fail the rubric's thresholds. Anti-signal gates for dilution and customer concentration are also flagged, and the market's macro REIT anchor appears justified given the leverage and lack of near-term catalysts.",
      "score": 11,
      "breakdown": {
        "smart_money": 0,
        "options_flow": 0,
        "catalyst": 5,
        "mispricing": 0,
        "quality": 0,
        "technical": 6
      },
      "debug_path": "drafts/2026-05-08-AMT.analyst.debug.json"
    },
    {
      "type": "scout_dossier",
      "ts": "2026-05-08T09:04:07.580Z",
      "summary": "American Tower reported Q1 2026 AFFO of $2.84/share vs. $2.50 consensus (+13.6% beat) and raised full-year 2026 guidance, yet the stock trades ~23% below its 52-week high with no analyst re-rating visible in recent news flow — suggesting the market is still anchored to macro REIT concerns (rate sensitivity, leverage) rather than fundamentals. The May-7 8-K revealed a $5B conditional acquisition borrowing capacity added across three credit facilities, which could set up M&A optionality but represents a timing risk without a named target. No open-market insider buys in the past 90 days; small RSU grants to directors (non-cash) and some routine selling from executives are neutral signals. The stock is technically below its 200-DMA with RSI at ~52 (neutral zone, not oversold), and options flow shows modestly bearish positioning via put-bias OI strikes (220 puts dominant).",
      "verdict": "range_bound_or_income",
      "confidence": 4,
      "tool_calls": 18,
      "walltime_min": 17,
      "debug_path": "dossiers/2026-05-08-AMT.scout.debug.json"
    }
  ],
  "lessons": [],
  "chart_signal": {
    "ticker": "AMT",
    "call": "SELL",
    "confidence": 5,
    "score": -6,
    "factors": {
      "below_200dma": "-2",
      "below_50dma": "-1",
      "momentum_down": "-1 (-17.9%)",
      "rsi_neutral": "0 (43.8)",
      "recent_macd_bearish_cross": "-2 (5d ago)",
      "from_high": "0 (-22.8%)"
    },
    "summary": "SELL (score -6) · 12-1 mom -17.9% · RSI 43.8 · below_both · -22.8% from high",
    "last_close": 179.38,
    "one_month_ago_close": 183.78,
    "twelve_month_ago_close": 223.91,
    "twelve_one_momentum_pct": -17.92,
    "rsi_14": 43.8,
    "ma_stack": "below_both",
    "from_period_high_pct": -22.8,
    "period_high": 232.35,
    "price_targets": {
      "bear": 162.65,
      "fair": 192.37,
      "bull": 267.2,
      "bear_return_pct": -9.3,
      "fair_return_pct": 7.2,
      "bull_return_pct": 49,
      "method": "street_targets ⨯ chart_floors",
      "street": {
        "target_low": 195,
        "target_mean": 216.13635,
        "target_high": 260,
        "analyst_count": 22
      }
    },
    "generated_at": "2026-06-24T07:36:44.758Z"
  }
}