American Tower Corporation (NYSE:AMT) Receives $226.67 Consensus Target Price from Analysts

Shares of American Tower Corporation (NYSE:AMT) have received an average rating of “Moderate Buy” from the twenty-one research firms that are presently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $225.4211.

AMT has been the topic of several research analyst reports. Jefferies Financial Group lowered their target price on shares of American Tower from $226.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, December 16th. Morgan Stanley dropped their price objective on shares of American Tower from $255.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, December 4th. TD Cowen reduced their target price on American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. JPMorgan Chase & Co. decreased their target price on American Tower from $255.00 to $250.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Finally, Wells Fargo & Company cut their price target on American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th.

Insider Buying and Selling at American Tower

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

Hedge Funds Weigh In On American Tower

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of American Tower during the 2nd quarter worth $1,371,875,000. Lazard Asset Management LLC lifted its position in American Tower by 1,984.8% in the third quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust’s stock valued at $858,552,000 after buying an additional 4,250,242 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in American Tower by 24.3% during the second quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock worth $2,799,458,000 after buying an additional 2,474,328 shares during the period. Viking Global Investors LP increased its position in shares of American Tower by 233.5% during the second quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust’s stock valued at $618,221,000 after acquiring an additional 1,958,329 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of American Tower in the 3rd quarter valued at approximately $305,872,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

Shares of American Tower stock opened at $175.86 on Friday. The company has a market capitalization of $82.33 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 0.67 and a beta of 0.92. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. The stock’s 50-day simple moving average is $178.54 and its 200-day simple moving average is $195.66. American Tower has a 52 week low of $170.77 and a 52 week high of $234.33.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter last year, the company earned $2.52 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, analysts expect 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. Investors of record on Monday, December 29th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.9%. The ex-dividend date is Monday, December 29th. American Tower’s payout ratio is currently 108.63%.

American Tower Company Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.