American Tower (NYSE:AMT) Price Target Lowered to $202.00 at Jefferies Financial Group

American Tower (NYSE:AMT) had its price target cut by Jefferies Financial Group from $226.00 to $202.00 in a report released on Tuesday,MarketScreener reports. They currently have a buy rating on the real estate investment trust’s stock.

AMT has been the subject of several other reports. JPMorgan Chase & Co. lowered their price target on American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. The Goldman Sachs Group dropped their price objective on shares of American Tower from $250.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. HSBC reduced their target price on shares of American Tower from $235.00 to $205.00 in a report on Wednesday, October 29th. Raymond James Financial restated a “strong-buy” rating and issued a $231.00 price target (down previously from $250.00) on shares of American Tower in a research note on Wednesday, October 29th. Finally, Wells Fargo & Company decreased their target price on American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $226.67.

American Tower Price Performance

Shares of NYSE:AMT traded up $0.91 during trading on Tuesday, reaching $180.04. The stock had a trading volume of 152,949 shares, compared to its average volume of 2,762,064. The business has a fifty day moving average price of $182.57 and a 200-day moving average price of $199.85. The stock has a market cap of $84.29 billion, a PE ratio of 28.77, a PEG ratio of 0.72 and a beta of 0.91. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.89 and a current ratio of 0.89. American Tower has a 1-year low of $172.51 and a 1-year high of $234.33.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.14. The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.65 billion. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, equities analysts forecast that American Tower will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, December 29th will be paid a $1.70 dividend. The ex-dividend date is Monday, December 29th. This represents a $6.80 dividend on an annualized basis and a yield of 3.8%. American Tower’s dividend payout ratio (DPR) is currently 108.63%.

Insider Activity

In other American Tower news, Director Eugene F. Reilly bought 5,554 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was purchased at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the purchase, the director directly owned 5,689 shares in the company, valued at $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the sale, the insider directly owned 211,379 shares in the company, valued at approximately $14,743,685.25. The trade was a 91.54% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On American Tower

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Painted Porch Advisors LLC grew its holdings in shares of American Tower by 18.1% during the third quarter. Painted Porch Advisors LLC now owns 647 shares of the real estate investment trust’s stock worth $124,000 after purchasing an additional 99 shares during the last quarter. Saranac Partners Ltd acquired a new position in American Tower during the third quarter worth approximately $331,000. Allworth Financial LP lifted its stake in American Tower by 0.7% in the third quarter. Allworth Financial LP now owns 45,717 shares of the real estate investment trust’s stock valued at $8,792,000 after buying an additional 315 shares during the last quarter. Swiss Life Asset Management Ltd boosted its holdings in shares of American Tower by 4.8% in the third quarter. Swiss Life Asset Management Ltd now owns 89,529 shares of the real estate investment trust’s stock valued at $17,218,000 after acquiring an additional 4,122 shares during the period. Finally, Groupama Asset Managment grew its position in shares of American Tower by 17.0% during the third quarter. Groupama Asset Managment now owns 117,651 shares of the real estate investment trust’s stock worth $22,627,000 after acquiring an additional 17,086 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Company Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.