American Tower (NYSE:AMT) Price Target Raised to $195.00

American Tower (NYSE:AMT) had its price target raised by BMO Capital Markets from $190.00 to $195.00 in a report published on Wednesday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the real estate investment trust’s stock.

Several other analysts also recently issued reports on AMT. Jefferies Financial Group boosted their price objective on American Tower from $209.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Mizuho raised shares of American Tower from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $189.00 to $205.00 in a research report on Wednesday, April 15th. Truist Financial boosted their price target on shares of American Tower from $205.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Barclays reduced their price target on shares of American Tower from $200.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, April 16th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $240.00 price objective on shares of American Tower in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $215.19.

American Tower Price Performance

Shares of NYSE:AMT opened at $173.82 on Wednesday. The stock has a market cap of $80.98 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 2.80 and a beta of 0.91. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.43. American Tower has a 12 month low of $160.06 and a 12 month high of $217.39. The stock’s 50 day moving average price is $175.87 and its 200 day moving average price is $178.39.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $1.24. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.66 billion. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the firm earned $2.75 EPS. Equities research analysts anticipate that American Tower will post 10.66 earnings per share for the current fiscal year.

American Tower Announces Dividend

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

Insiders Place Their Bets

In other American Tower news, 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 directly owned 27,711 shares in the company, valued at $4,848,316.56. This trade represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of the company’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total value of $894,450.00. Following the sale, the chief financial officer owned 21,428 shares of the company’s stock, valued at approximately $3,833,254.92. This trade represents a 18.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 6,791 shares of company stock valued at $1,204,091 over the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On American Tower

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its stake in shares of American Tower by 113.0% in the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after purchasing an additional 2,104 shares during the period. Sivia Capital Partners LLC lifted its position in shares of American Tower by 34.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock worth $319,000 after buying an additional 368 shares during the period. United Bank boosted its stake in American Tower by 12.7% in the 2nd quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock valued at $1,434,000 after buying an additional 733 shares in the last quarter. Treasurer of the State of North Carolina grew its position in American Tower by 2.2% in the second quarter. Treasurer of the State of North Carolina now owns 218,511 shares of the real estate investment trust’s stock valued at $48,295,000 after acquiring an additional 4,778 shares during the period. Finally, Ieq Capital LLC grew its position in American Tower by 52.2% in the second quarter. Ieq Capital LLC now owns 34,248 shares of the real estate investment trust’s stock valued at $7,570,000 after acquiring an additional 11,751 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower News Roundup

Here are the key news stories impacting American Tower this week:

• Positive Sentiment: Analysts raised their valuation expectations for American Tower. One firm lifted its price target to $220, while BMO Capital Markets increased its target to $195, suggesting potential upside from recent trading levels. American Tower Price Target Raised to $220 BMO Raises American Tower Price Target
• Positive Sentiment: American Tower’s latest results were stronger than expected, with revenue up 6.8% year over year to $2.74 billion and EPS of $2.84 versus the $1.60 consensus estimate. Record CoreSite data-center leasing and continued demand from cloud and artificial-intelligence infrastructure provide additional growth support.
• Neutral Sentiment: EVP Ruth Dowling sold 1,791 shares across two transactions for approximately $309,641 under a pre-arranged Rule 10b5-1 plan. Because the sales were scheduled and she retained a sizable stake, the transactions are a limited signal about management’s outlook. SEC Insider Trading Filing
• Negative Sentiment: CFO Robert Joseph Meyer sold 5,000 shares worth approximately $894,450, reducing his ownership by 18.92%. Although the sale does not necessarily indicate deteriorating fundamentals, the larger transaction may weigh on investor sentiment. CFO SEC Insider Trading Filing
• Negative Sentiment: American Tower remains highly leveraged, with a debt-to-equity ratio of 3.12, making it sensitive to higher interest rates. Rising borrowing costs can pressure REIT valuations and reduce the appeal of its approximately 4.1% dividend yield.

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.