American Tower (NYSE:AMT) Lowered to “Sector Perform” Rating by Royal Bank Of Canada

American Tower (NYSE:AMT) was downgraded by research analysts at Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a report issued on Wednesday, MarketBeat Ratings reports. They presently have a $220.00 price target on the real estate investment trust’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 15.16% from the stock’s previous close.

AMT has been the subject of several other reports. Wells Fargo & Company lowered their price target on American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. HSBC downgraded American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target for the company. in a report on Wednesday, July 30th. Barclays increased 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. BMO Capital Markets reissued an “outperform” rating and issued a $245.00 target price (down previously from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $242.07.

American Tower Stock Down 1.2%

Shares of American Tower stock opened at $191.03 on Wednesday. American Tower has a 1 year low of $172.51 and a 1 year high of $234.33. The business has a 50-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 P/E ratio of 69.47, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95.

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

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of American Tower stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the transaction, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AMT. North Capital Inc. bought a new position in shares of American Tower during the 1st quarter worth approximately $25,000. Hopwood Financial Services Inc. boosted its stake in shares of American Tower by 100.0% during the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 60 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of American Tower during the 1st quarter worth approximately $31,000. Legacy Investment Solutions LLC bought a new position in shares of American Tower during the 2nd quarter worth approximately $31,000. Finally, VSM Wealth Advisory LLC lifted its holdings in American Tower by 136.4% during the 2nd quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 90 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

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.