Investors focused on the Finance space have likely heard of American Tower Corporation REIT (AMT), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of AMT and the rest of the Finance group’s stocks.

American Tower Corporation REIT is one of 901 individual stocks in the Finance sector. Collectively, these companies sit at #14 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. AMT is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for AMT’s full-year earnings has moved 0.35% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, AMT has gained about 6.47% so far this year. In comparison, Finance companies have returned an average of -13.39%. This shows that American Tower Corporation REIT is outperforming its peers so far this year.

Looking more specifically, AMT belongs to the REIT and Equity Trust – Other industry, a group that includes 119 individual stocks and currently sits at #213 in the Zacks Industry Rank. This group has lost an average of 2.82% so far this year, so AMT is performing better in this area.

Investors in the Finance sector will want to keep a close eye on AMT as it attempts to continue

AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” of Tower Limited (Tower) (New Zealand), which was formerly known as Tower Insurance Limited. The outlook of these Credit Ratings (ratings) is stable. Concurrently, AM Best has withdrawn the Long-Term ICR of the Tower group’s prior non-operating holding company, Tower Limited (TL) (New Zealand), which ceased to exist as part of a corporate restructure on 30 September 2020.

These rating actions follow the execution of a short-form amalgamation of the non-operating holding company, TL, and two other non-rated group entities into Tower Insurance Limited on 30 September 2020. Tower Insurance Limited is the continuing operating insurance company and has subsequently changed its legal name to Tower Limited (Tower). This transaction was aimed at simplifying the group’s corporate structure and has received regulatory approval from the Reserve Bank of New Zealand.

The ratings of Tower reflect its balance sheet strength, which AM Best categorises as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

Tower’s balance sheet strength assessment is underpinned by its risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR), which was categorised as strongest in fiscal-year 2019 and is expected to remain at this level following the recent amalgamation. AM Best also views Tower as having robust financial flexibility, a prudent reinsurance programme and a conservative investment strategy. A partial offsetting factor remains the ongoing exposure to the Canterbury earthquakes, including the potential for adverse reserve development and lower-than-expected recoverables from the Earthquake Commission.

Tower reported a return-on-equity ratio of 9.8% and a combined ratio of 94.3% for fiscal-year 2019. Prospectively, AM Best expects Tower to report positive underwriting and operating results over the medium term, supported by