Brokerages Set American Tower Corporation (NYSE:AMT) Price Target at $215.29

American Tower Corporation (NYSE:AMT) has received a consensus recommendation of “Moderate Buy” from the twenty brokerages that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $215.2857.

A number of analysts have commented on the stock. Royal Bank Of Canada upgraded shares of American Tower from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $195.00 to $205.00 in a report on Friday, June 26th. Sanford C. Bernstein restated an “outperform” rating and set a $214.00 target price on shares of American Tower in a report on Wednesday, July 29th. Truist Financial restated a “buy” rating and issued a $207.00 price target (down from $208.00) on shares of American Tower in a research report on Wednesday, August 12th. Mizuho set a $208.00 price target on American Tower in a report on Thursday, August 20th. Finally, BMO Capital Markets lifted their price objective on American Tower from $190.00 to $195.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th.

American Tower Price Performance

American Tower stock opened at $175.54 on Friday. American Tower has a 52-week low of $160.06 and a 52-week high of $197.40. The firm has a market capitalization of $81.79 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 2.83 and a beta of 0.89. The company has a fifty day simple moving average of $172.90 and a 200-day simple moving average of $176.78. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.12.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping the consensus estimate of $1.57 by $1.14. The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.70 billion. American Tower had a net margin of 31.08% and a return on equity of 32.76%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the firm posted $2.60 earnings per share. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, equities analysts anticipate that American Tower will post 10.8 EPS for the current fiscal year.

Insider Transactions at American Tower

In other news, CFO Robert Joseph Meyer sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total transaction of $894,450.00. Following the transaction, the chief financial officer owned 21,428 shares of the company’s stock, valued at approximately $3,833,254.92. The trade was a 18.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rajesh Kalathur acquired 2,829 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was purchased at an average cost of $177.00 per share, with a total value of $500,733.00. Following the acquisition, the director directly owned 7,765 shares of the company’s stock, valued at $1,374,405. This trade represents a 57.31% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 6,791 shares of company stock worth $1,204,091 in the last quarter. Company insiders own 0.08% of the company’s stock.

Institutional Trading of American Tower

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of American Tower in the second quarter valued at $7,490,943,000. J. Stern & Co. LLP grew its stake in American Tower by 28,121.1% in the 4th quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock valued at $6,616,703,000 after acquiring an additional 37,553,436 shares during the last quarter. State Street Corp increased its holdings in American Tower by 0.3% during the 4th quarter. State Street Corp now owns 20,987,534 shares of the real estate investment trust’s stock valued at $3,719,634,000 after acquiring an additional 71,605 shares in the last quarter. Geode Capital Management LLC raised its position in American Tower by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 13,499,035 shares of the real estate investment trust’s stock worth $2,361,675,000 after acquiring an additional 227,361 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of American Tower by 20,721.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock valued at $1,705,254,000 after purchasing an additional 9,666,025 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

About American Tower

American Tower Corporation (NYSE:AMT) is a global owner, operator and developer of wireless communications infrastructure. The company leases space on communications sites, including towers, rooftops and other structures, to wireless carriers, broadcasters, government agencies and other customers. Its infrastructure supports wireless networks and the transmission of voice, data and video services.

In addition to traditional macro towers, American Tower provides distributed antenna systems and other in-building or venue-based communications solutions designed to improve wireless coverage and capacity.