American Tower (NYSE:AMT) Receives Sector Perform Rating from Royal Bank Of Canada

American Tower (NYSE:AMT)‘s stock had its “sector perform” rating reissued by equities research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $220.00 price target on the real estate investment trust’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 27.17% from the stock’s current price.

Other analysts have also issued research reports about the stock. UBS Group reiterated a “buy” rating on shares of American Tower in a research report on Wednesday, December 10th. Citigroup restated a “market outperform” rating on shares of American Tower in a research report on Wednesday, October 29th. Argus set a $210.00 price objective on American Tower in a research note on Thursday, October 30th. Wall Street Zen raised shares of American Tower from a “sell” rating to a “hold” rating in a report on Sunday, October 12th. Finally, JPMorgan Chase & Co. lowered their price target on shares of American Tower from $255.00 to $250.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average price target of $226.67.

American Tower Stock Performance

NYSE AMT traded down $1.29 during mid-day trading on Friday, reaching $173.00. 904,526 shares of the stock were exchanged, compared to its average volume of 2,775,273. The business’s 50 day moving average is $182.21 and its 200-day moving average is $199.53. The company has a market capitalization of $80.99 billion, a P/E ratio of 27.62, a P/E/G ratio of 0.71 and a beta of 0.91. American Tower has a 1 year low of $172.51 and a 1 year high of $234.33. 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 (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, beating the consensus estimate of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the previous year, the business earned $2.52 EPS. American Tower’s revenue for the quarter was up 7.7% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, equities research analysts forecast that American Tower will post 10.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Eugene F. Reilly acquired 5,554 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was acquired at an average cost of $178.99 per share, with a total value of $994,110.46. Following the completion of the purchase, the director owned 5,689 shares of the company’s stock, valued at $1,018,274.11. This represents a 4,114.07% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the business’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 completion of the sale, the insider owned 211,379 shares in the company, valued at $14,743,685.25. This represents a 91.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American Tower

Institutional investors have recently modified their holdings of the business. Focus Financial Network Inc. boosted its stake in American Tower by 9.1% in 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 acquiring an additional 170 shares in the last quarter. Resolution Capital Ltd acquired a new stake in shares of American Tower during the first quarter worth about $72,706,000. Stack Financial Management Inc purchased a new stake in shares of American Tower in the 2nd quarter valued at about $13,020,000. Los Angeles Capital Management LLC boosted its position in shares of American Tower by 52.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 321,661 shares of the real estate investment trust’s stock valued at $71,094,000 after purchasing an additional 110,671 shares during the period. Finally, First Trust Advisors LP grew its stake in American Tower by 47.3% during the 2nd quarter. First Trust Advisors LP now owns 109,124 shares of the real estate investment trust’s stock worth $24,119,000 after buying an additional 35,037 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

About American Tower

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.