American Tower Corporation (NYSE:AMT) Receives $244.73 Average Price Target from Analysts

Shares of American Tower Corporation (NYSE:AMT) have been assigned an average recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $242.0667.

Several equities research analysts have recently issued reports on the company. BMO Capital Markets restated an “outperform” rating and set a $245.00 price objective (down previously from $250.00) on shares of American Tower in a report on Wednesday, July 30th. Barclays raised their price objective on American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Hsbc Global Res cut American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. raised their price objective on American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, Royal Bank Of Canada set a $220.00 price objective on American Tower and gave the stock a “sector perform” rating in a report on Wednesday.

Insiders Place Their Bets

In related news, CEO Juan Font sold 720 shares of American Tower stock in a transaction 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 trade 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 can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMT. Norges Bank acquired a new position in American Tower in the second quarter valued at $1,371,875,000. Nuveen LLC acquired a new position in American Tower in the first quarter valued at $991,525,000. JPMorgan Chase & Co. raised its position in American Tower by 24.3% in the second 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 period. Price T Rowe Associates Inc. MD raised its position in American Tower by 39.6% in the first 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 period. Finally, Viking Global Investors LP raised its position in American Tower by 233.5% in 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. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

American Tower stock opened at $191.03 on Friday. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a fifty day moving average of $202.32 and a two-hundred day moving average of $211.93. The company has a market capitalization of $89.45 billion, a price-to-earnings ratio of 69.47, a PEG ratio of 1.19 and a beta of 0.86. American Tower has a fifty-two week low of $172.51 and a fifty-two week high of $234.33.

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

American Tower Announces Dividend

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

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.