American Tower (NYSE:AMT) Hits New 12-Month Low – What’s Next?

American Tower Corporation (NYSE:AMT)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $172.21 and last traded at $172.49, with a volume of 2443643 shares. The stock had previously closed at $174.29.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AMT. Wall Street Zen upgraded American Tower from a “sell” rating to a “hold” rating in a report on Sunday, October 12th. Wells Fargo & Company reduced their price objective on American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. JPMorgan Chase & Co. decreased their price objective on American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. BMO Capital Markets dropped their target price on American Tower from $215.00 to $210.00 and set an “outperform” rating on the stock in a report on Wednesday, December 3rd. Finally, Jefferies Financial Group decreased their price target on shares of American Tower from $226.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $226.67.

American Tower Trading Down 1.1%

The company has a 50 day moving average of $182.21 and a 200 day moving average of $199.53. The firm has a market cap of $80.69 billion, a P/E ratio of 27.53, a PEG ratio of 0.71 and a beta of 0.91. 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 posted its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. The firm had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.65 billion. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, December 29th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.9%. The ex-dividend date is Monday, December 29th. American Tower’s payout ratio is 108.63%.

Insider Buying and Selling at American Tower

In other news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the completion of the transaction, the insider directly owned 211,379 shares in the company, valued at $14,743,685.25. The trade was a 91.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eugene F. Reilly bought 5,554 shares of American Tower stock in a transaction that occurred on Friday, October 31st. The stock was bought at an average price of $178.99 per share, with a total value of $994,110.46. Following the purchase, the director owned 5,689 shares of the company’s stock, valued at $1,018,274.11. This trade represents a 4,114.07% increase in their position. The SEC filing for this purchase provides additional information. 0.17% of the stock is currently owned by corporate insiders.

Institutional Trading of American Tower

Several institutional investors have recently bought and sold shares of AMT. Abound Wealth Management boosted its stake in shares of American Tower by 137.3% in the 3rd quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 81 shares in the last quarter. Triumph Capital Management acquired a new position in American Tower in the third quarter valued at about $29,000. Legacy Investment Solutions LLC acquired a new position in American Tower in the second quarter valued at about $31,000. Root Financial Partners LLC bought a new stake in American Tower during the third quarter worth about $32,000. Finally, Physician Wealth Advisors Inc. increased its holdings in shares of American Tower by 85.9% during the third quarter. Physician Wealth Advisors Inc. now owns 171 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 79 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.