American Tower’s (AMT) Buy Rating Reiterated at Truist Financial

Truist Financial reaffirmed their buy rating on shares of American Tower (NYSE:AMT) in a report issued on Wednesday morning,Benzinga reports. They currently have a $207.00 price target on the real estate investment trust’s stock, down from their prior price target of $208.00.

Other research analysts also recently issued research reports about the stock. Scotiabank restated an “outperform” rating on shares of American Tower in a report on Wednesday, July 29th. The Goldman Sachs Group set a $210.00 target price on American Tower in a research report on Tuesday, July 28th. Sanford C. Bernstein restated an “outperform” rating and set a $214.00 price target on shares of American Tower in a research note on Wednesday, July 29th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $260.00 price target on shares of American Tower in a report on Wednesday, April 29th. Finally, Royal Bank Of Canada upgraded American Tower from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $195.00 to $205.00 in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $215.14.

American Tower Stock Up 0.9%

AMT opened at $175.68 on Wednesday. The business has a 50 day moving average of $172.82 and a 200-day moving average of $177.94. The stock has a market capitalization of $81.86 billion, a price-to-earnings ratio of 24.17, a P/E/G ratio of 2.76 and a beta of 0.90. 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 1-year low of $160.06 and a 1-year high of $214.79.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the previous year, the firm posted $2.60 earnings per share. American Tower’s revenue 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. As a group, sell-side analysts anticipate that American Tower will post 10.78 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Friday, June 12th. American Tower’s payout ratio is 98.49%.

Insider Transactions at American Tower

In related news, CFO Robert Joseph Meyer sold 5,000 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total value of $894,450.00. Following the completion of the transaction, the chief financial officer owned 21,428 shares of the company’s stock, valued at $3,833,254.92. This represents a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ruth T. Dowling sold 1,106 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the transaction, the executive vice president owned 27,711 shares of the company’s stock, valued at approximately $4,848,316.56. This represents a 3.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 6,791 shares of company stock worth $1,204,091. 0.08% of the stock is currently owned by insiders.

Institutional Trading of American Tower

Large investors have recently bought and sold shares of the stock. Riverwater Partners LLC boosted its stake in shares of American Tower by 3.8% in the 4th quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust’s stock valued at $270,000 after purchasing an additional 56 shares in the last quarter. Triumph Capital Management increased its position in shares of American Tower by 37.3% during the 4th quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 56 shares in the last quarter. Twin City Private Wealth LLC lifted its holdings in American Tower by 0.7% during the 4th quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust’s stock valued at $1,382,000 after purchasing an additional 58 shares during the last quarter. Asset Advisory Group Inc. lifted its holdings in American Tower by 3.0% during the 1st quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust’s stock valued at $358,000 after purchasing an additional 60 shares during the last quarter. Finally, Argent Advisors Inc. boosted its position in American Tower by 0.9% in the fourth quarter. Argent Advisors Inc. now owns 6,625 shares of the real estate investment trust’s stock valued at $1,163,000 after buying an additional 61 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

About American Tower

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.