American Tower Corporation (NYSE:AMT) Given Average Recommendation of “Moderate Buy” by Analysts

American Tower Corporation (NYSE:AMT) has been assigned an average rating of “Moderate Buy” from the twenty analysts that are currently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $225.2222.

Several brokerages have commented on AMT. HSBC dropped their price objective on American Tower from $235.00 to $205.00 in a report on Wednesday, October 29th. BMO Capital Markets cut shares of American Tower from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $210.00 to $185.00 in a research report on Friday. Jefferies Financial Group decreased their price objective on shares of American Tower from $226.00 to $202.00 and set a “buy” rating on the stock in a report on Tuesday, December 16th. Wells Fargo & Company reduced their price target on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. lowered their price objective on American Tower from $255.00 to $250.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th.

American Tower Stock Down 1.0%

AMT stock opened at $168.56 on Friday. American Tower has a one year low of $166.88 and a one 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. The firm’s fifty day moving average is $177.95 and its 200 day moving average is $194.73. The firm has a market cap of $78.91 billion, a PE ratio of 26.93, a P/E/G ratio of 0.64 and a beta of 0.92.

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, topping the consensus estimate of $2.64 by $0.14. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same period in the prior year, the company posted $2.52 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, research analysts forecast that American Tower will post 10.14 EPS for the current year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, December 29th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Monday, December 29th. American Tower’s payout ratio is presently 108.63%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On American Tower

Large investors have recently made changes to their positions in the stock. Abound Wealth Management boosted its stake in American Tower by 137.3% during the third quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 81 shares during the last quarter. Holos Integrated Wealth LLC acquired a new position in shares of American Tower during the 4th quarter valued at about $27,000. Triumph Capital Management purchased a new stake in shares of American Tower in the third quarter valued at about $29,000. Legacy Investment Solutions LLC acquired a new stake in American Tower during the second quarter worth about $31,000. Finally, Root Financial Partners LLC purchased a new position in American Tower during the third quarter worth about $32,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

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.