JPMorgan Chase & Co. Cuts American Tower (NYSE:AMT) Price Target to $245.00

American Tower (NYSE:AMT) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $250.00 to $245.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 43.78% from the stock’s previous close.

AMT has been the topic of a number of other research reports. Wells Fargo & Company dropped their target price on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Mizuho decreased their price target on shares of American Tower from $217.00 to $189.00 and set a “neutral” rating on the stock in a research report on Monday. Citigroup reaffirmed a “market outperform” rating on shares of American Tower in a research report on Wednesday, October 29th. Jefferies Financial Group decreased their target price on American Tower from $226.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, December 16th. Finally, New Street Research upgraded American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price target on the stock in a research note on Monday, January 5th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $223.05.

American Tower Stock Performance

Shares of American Tower stock traded up $1.89 during trading on Monday, reaching $170.40. The company’s stock had a trading volume of 1,524,992 shares, compared to its average volume of 2,410,400. 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 has a market cap of $79.77 billion, a price-to-earnings ratio of 27.20, a price-to-earnings-growth ratio of 0.68 and a beta of 0.92. The business’s fifty day moving average price is $177.95 and its 200-day moving average price is $194.55.

American Tower (NYSE:AMT) last released 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 for the quarter, compared to analyst estimates of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, equities research analysts predict that American Tower will post 10.14 earnings per share for the current year.

Insider Transactions at American Tower

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

Institutional Investors Weigh In On American Tower

Several institutional investors have recently modified their holdings of the business. Abound Wealth Management grew its holdings in American Tower by 137.3% during the 3rd quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 81 shares during the period. Holos Integrated Wealth LLC acquired a new stake in shares of American Tower during the fourth quarter worth $27,000. Triumph Capital Management bought a new stake 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. Finally, Root Financial Partners LLC bought a new position in American Tower during the third quarter worth about $32,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Company Profile

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.