American Tower (NYSE:AMT) Receives “Strong-Buy” Rating from Raymond James Financial

Raymond James Financial restated their strong-buy rating on shares of American Tower (NYSE:AMT) in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a $231.00 price target on the real estate investment trust’s stock, down from their prior price target of $250.00.

A number of other analysts have also weighed in on AMT. UBS Group raised their price target on shares of American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. BMO Capital Markets lowered their price target on shares of American Tower from $220.00 to $215.00 and set an “outperform” rating for the company in a report on Wednesday. Barclays raised their price target on shares of American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Jefferies Financial Group lowered their price target on shares of American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a report on Monday, October 13th. Finally, Royal Bank Of Canada set a $220.00 price target on shares of American Tower and gave the stock a “sector perform” rating in a research report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $234.31.

American Tower Price Performance

AMT opened at $179.13 on Wednesday. American Tower has a one year low of $172.51 and a one year high of $234.33. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.95. The company’s 50 day simple moving average is $193.96 and its 200-day simple moving average is $208.52. The stock has a market capitalization of $83.88 billion, a P/E ratio of 28.61, a price-to-earnings-growth ratio of 1.11 and a beta of 0.86.

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

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were given a dividend of $1.70 per share. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.8%. American Tower’s payout ratio is currently 247.27%.

Institutional Investors Weigh In On American Tower

Institutional investors have recently modified their holdings of the business. Focus Financial Network Inc. grew its holdings in American Tower by 9.1% during the second quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock valued at $451,000 after purchasing an additional 170 shares during the period. Resolution Capital Ltd acquired a new position in American Tower during the first quarter valued at approximately $72,706,000. Stack Financial Management Inc bought a new position in American Tower in the second quarter valued at approximately $13,020,000. Golden State Wealth Management LLC lifted its stake in American Tower by 23.0% in the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock valued at $80,000 after buying an additional 69 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its stake in American Tower by 126.0% in the first quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust’s stock valued at $21,215,000 after buying an additional 54,360 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.