Mizuho Issues Pessimistic Forecast for American Tower (NYSE:AMT) Stock Price

American Tower (NYSE:AMT) had its target price reduced by Mizuho from $217.00 to $189.00 in a research note issued to investors on Monday, MarketBeat reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s price objective would indicate a potential upside of 11.04% from the stock’s current price.

Several other research firms have also issued reports on AMT. Barclays reiterated an “equal weight” rating and set a $200.00 price objective (down from $203.00) on shares of American Tower in a research note on Monday, December 1st. Royal Bank Of Canada reiterated a “sector perform” rating and set a $220.00 target price on shares of American Tower in a research report on Friday, December 19th. 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. BMO Capital Markets cut shares of American Tower from an “outperform” rating to a “market perform” rating and cut their target price for the company from $210.00 to $185.00 in a research note on Friday. Finally, HSBC dropped their price target on American Tower from $235.00 to $205.00 in a report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $223.32.

American Tower Price Performance

NYSE AMT traded up $1.70 on Monday, reaching $170.21. The company’s stock had a trading volume of 464,046 shares, compared to its average volume of 2,251,918. American Tower has a 52 week low of $166.88 and a 52 week high of $234.33. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.24. The firm has a market cap of $79.68 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 0.68 and a beta of 0.92. The business has a 50-day moving average price of $177.95 and a 200 day moving average price of $194.55.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the business earned $2.52 earnings per share. The company’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. Sell-side analysts expect that American Tower will post 10.14 EPS for the current year.

Insider Activity

In other news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider directly owned 211,379 shares of the company’s stock, valued at $14,743,685.25. This represents a 91.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Eugene F. Reilly acquired 5,554 shares of American Tower stock in a transaction that occurred on Friday, October 31st. The shares were purchased at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the purchase, the director directly owned 5,689 shares in the company, valued at $1,018,274.11. The trade was a 4,114.07% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On American Tower

Several institutional investors and hedge funds have recently modified their holdings of AMT. Focus Financial Network Inc. grew its position in shares of American Tower by 9.1% in the second quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock valued at $451,000 after purchasing an additional 170 shares during the last quarter. Stack Financial Management Inc bought a new stake in American Tower in the 2nd quarter valued at $13,020,000. Los Angeles Capital Management LLC grew its holdings in American Tower by 52.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 321,661 shares of the real estate investment trust’s stock valued at $71,094,000 after buying an additional 110,671 shares in the last quarter. First Trust Advisors LP increased its position in American Tower by 47.3% during the 2nd quarter. First Trust Advisors LP now owns 109,124 shares of the real estate investment trust’s stock worth $24,119,000 after buying an additional 35,037 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of American Tower by 1.0% during the second quarter. Nordea Investment Management AB now owns 1,532,818 shares of the real estate investment trust’s stock worth $334,430,000 after buying an additional 15,920 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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.