American Tower (NYSE:AMT) Price Target Cut to $212.00 by Analysts at Sanford C. Bernstein

American Tower (NYSE:AMT) had its price objective decreased by equities researchers at Sanford C. Bernstein from $214.00 to $212.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. Sanford C. Bernstein’s target price indicates a potential upside of 15.85% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Barclays upped their target price on American Tower from $198.00 to $199.00 and gave the company an “overweight” rating in a research report on Wednesday, September 30th. BMO Capital Markets lifted their price target on American Tower from $190.00 to $195.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Scotiabank reiterated an “outperform” rating on shares of American Tower in a research note on Wednesday, July 29th. The Goldman Sachs Group set a $210.00 price objective on American Tower in a report on Tuesday, July 28th. Finally, TD Cowen raised their price objective on American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $214.90.

American Tower Trading Down 1.2%

Shares of American Tower stock opened at $182.99 on Tuesday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.12. American Tower has a 12-month low of $160.06 and a 12-month high of $196.08. The firm has a market capitalization of $85.27 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 2.97 and a beta of 0.88. The firm’s 50 day simple moving average is $173.85 and its two-hundred day simple moving average is $175.47.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 EPS for the quarter, topping the consensus estimate of $1.57 by $1.14. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the previous year, the firm posted $2.60 earnings per share. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. Analysts predict that American Tower will post 10.80 EPS for the current year.

Insider Activity at American Tower

In related news, EVP Ruth Dowling sold 1,106 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total transaction of $193,505.76. Following the completion of the transaction, the executive vice president directly owned 27,711 shares in the company, valued at $4,848,316.56. The trade was a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total transaction of $894,450.00. Following the completion of the sale, the chief financial officer directly owned 21,428 shares in the company, valued at approximately $3,833,254.92. The trade was a 18.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 6,791 shares of company stock worth $1,204,091 over the last three months. Company insiders own 0.08% of the company’s stock.

Institutional Trading of American Tower

A number of hedge funds have recently modified their holdings of AMT. Operose Advisors LLC acquired a new stake in American Tower during the second quarter worth about $25,000. Allied Private Wealth LLC acquired a new position in American Tower in the second quarter valued at approximately $29,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in American Tower in the second quarter valued at approximately $33,000. Cache Advisors LLC purchased a new stake in American Tower in the 1st quarter worth approximately $38,000. Finally, Kelleher Financial Advisors acquired a new stake in shares of American Tower during the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

About American Tower

American Tower Corporation (NYSE:AMT) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its portfolio primarily includes communications towers, rooftop sites, distributed antenna systems and other infrastructure used by wireless carriers, broadcasters, governments and businesses to support voice, data and video communications.

The company leases space on its sites to multiple customers, allowing them to install antennas and related equipment without building and maintaining individual tower locations.