American Tower’s (AMT) Hold (C-) Rating Reiterated at Weiss Ratings

Weiss Ratings restated their hold (c-) rating on shares of American Tower (NYSE:AMT) in a research report released on Wednesday,Weiss Ratings reports.

AMT has been the topic of several other reports. Raymond James Financial set a $250.00 target price on American Tower and gave the company a “strong-buy” rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. upped their price objective on shares of American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Wells Fargo & Company cut their price target on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. Royal Bank Of Canada set a $220.00 price target on shares of American Tower and gave the company a “sector perform” rating in a research report on Wednesday, October 1st. Finally, Wall Street Zen lowered American Tower from a “hold” rating to a “sell” rating in a research report on Saturday, October 4th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $242.07.

American Tower Stock Performance

Shares of American Tower stock opened at $186.60 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. American Tower has a twelve month low of $172.51 and a twelve month high of $234.33. The stock has a market cap of $87.38 billion, a price-to-earnings ratio of 67.85, a P/E/G ratio of 1.12 and a beta of 0.86. The company’s fifty day moving average is $198.75 and its 200 day moving average is $210.81.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the company posted $2.79 EPS. The business’s revenue was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Sell-side analysts forecast that American Tower will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 30th. American Tower’s dividend payout ratio is 247.27%.

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the transaction, the chief executive officer owned 23,425 shares in the company, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Institutional Trading of American Tower

Several hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in shares of American Tower in the second quarter valued at $1,371,875,000. Nuveen LLC bought a new position in American Tower in the 1st quarter valued at about $991,525,000. JPMorgan Chase & Co. boosted its stake in American Tower by 24.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock valued at $2,799,458,000 after purchasing an additional 2,474,328 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in American Tower by 39.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock valued at $1,772,144,000 after purchasing an additional 2,309,627 shares during the last quarter. Finally, Viking Global Investors LP boosted its stake in American Tower by 233.5% during the 2nd 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 purchasing an additional 1,958,329 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

About American Tower

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.