Brokerages Set American Tower Corporation (NYSE:AMT) Target Price at $228.00

Shares of American Tower Corporation (NYSE:AMT) have been assigned a consensus rating of “Moderate Buy” from the twenty ratings firms that are currently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $228.00.

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group lowered their price target on American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Morgan Stanley lowered their target price on American Tower from $255.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, December 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of American Tower in a research report on Monday, December 8th. TD Cowen reduced their price objective on American Tower from $249.00 to $235.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of American Tower in a research report on Wednesday, October 29th.

Insider Transactions at American Tower

In other American Tower news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company’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 completion of the transaction, the insider 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eugene F. Reilly acquired 5,554 shares of the firm’s stock in a transaction dated 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 acquisition, the director directly owned 5,689 shares in the company, valued at $1,018,274.11. This represents a 4,114.07% increase in their position. The SEC filing for this purchase provides additional information. 0.18% of the stock is currently owned by corporate insiders.

Institutional Trading of American Tower

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Painted Porch Advisors LLC grew its stake in shares of American Tower by 18.1% in the 3rd quarter. Painted Porch Advisors LLC now owns 647 shares of the real estate investment trust’s stock valued at $124,000 after purchasing an additional 99 shares during the period. Saranac Partners Ltd bought a new stake in American Tower in the third quarter valued at $331,000. Allworth Financial LP raised its stake in American Tower by 0.7% during the third quarter. Allworth Financial LP now owns 45,717 shares of the real estate investment trust’s stock worth $8,792,000 after acquiring an additional 315 shares in the last quarter. Swiss Life Asset Management Ltd lifted its holdings in shares of American Tower by 4.8% during 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 boosted its stake in shares of American Tower by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 117,651 shares of the real estate investment trust’s stock valued at $22,627,000 after purchasing an additional 17,086 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Down 0.4%

Shares of AMT stock opened at $180.95 on Wednesday. The business’s 50 day moving average is $182.83 and its two-hundred day moving average is $200.34. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. American Tower has a 12 month low of $172.51 and a 12 month high of $234.33. The company has a market cap of $84.71 billion, a PE ratio of 28.91, a price-to-earnings-growth ratio of 0.72 and a beta of 0.91.

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

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, December 29th will be issued a dividend of $1.70 per share. The ex-dividend date is Monday, December 29th. This represents a $6.80 annualized dividend and a dividend yield of 3.8%. American Tower’s payout ratio is presently 108.63%.

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.