American Tower (NYSE:AMT) Price Target Cut to $189.00 by Analysts at Mizuho

American Tower (NYSE:AMT) had its target price decreased by investment analysts at Mizuho from $217.00 to $189.00 in a note issued to investors on Monday, Marketbeat.com reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s price target indicates a potential upside of 11.04% from the company’s previous close.

AMT has been the subject of a number of other reports. Royal Bank Of Canada reissued a “sector perform” rating and issued a $220.00 price objective on shares of American Tower in a report on Friday, December 19th. Argus set a $210.00 price target on American Tower in a report on Thursday, October 30th. Jefferies Financial Group decreased their target price on shares of American Tower from $226.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, December 16th. The Goldman Sachs Group dropped their price target on shares of American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Finally, New Street Research raised American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price objective on the stock in a research note on Monday, January 5th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus price target of $223.32.

American Tower Trading Up 1.0%

American Tower stock traded up $1.70 during midday trading on Monday, reaching $170.21. The stock had a trading volume of 464,046 shares, compared to its average volume of 2,251,918. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.89 and a current ratio of 0.89. American Tower has a twelve month low of $166.88 and a twelve month high of $234.33. The stock has a market capitalization 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 stock’s 50-day simple moving average is $177.95 and its 200 day simple moving average is $194.55.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.14. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The firm had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the prior year, the company earned $2.52 EPS. The firm’s 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. Analysts expect that American Tower will post 10.14 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total value of $159,631,314.75. Following the transaction, the insider directly owned 211,379 shares of the company’s stock, valued at approximately $14,743,685.25. This represents a 91.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eugene F. Reilly bought 5,554 shares of the stock in a transaction on Friday, October 31st. The stock was purchased at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the purchase, the director directly owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. This represents a 4,114.07% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.17% of the company’s stock.

Institutional Trading of American Tower

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of American Tower in the second quarter valued at about $1,371,875,000. Lazard Asset Management LLC lifted its position in shares of American Tower by 1,984.8% in the 3rd quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust’s stock worth $858,552,000 after acquiring an additional 4,250,242 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of 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 worth $2,799,458,000 after purchasing an additional 2,474,328 shares in the last quarter. 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 purchasing an additional 1,958,329 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of American Tower during the third quarter valued at approximately $305,872,000. 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.