American Tower (NYSE:AMT) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of American Tower (NYSE:AMT) from a sell rating to a hold rating in a research note published on Sunday.

AMT has been the subject of a number of other reports. Royal Bank Of Canada set a $220.00 target price on American Tower and gave the company a “sector perform” rating in a research note on Wednesday, October 1st. BMO Capital Markets reissued an “outperform” rating and issued a $245.00 target price (down from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. Barclays boosted their target price on American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. UBS Group upped their price objective on American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company reduced their price objective on American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and an average price target of $242.07.

American Tower Trading Up 0.7%

NYSE AMT opened at $186.60 on Friday. The stock has a 50-day simple moving average of $198.75 and a 200 day simple moving average of $210.80. The company has a market capitalization of $87.38 billion, a PE ratio of 67.85, a P/E/G ratio of 1.13 and a beta of 0.86. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. American Tower has a 12 month low of $172.51 and a 12 month high of $234.33.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the previous year, the firm earned $2.79 earnings per share. The company’s revenue was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Research analysts forecast that American Tower will post 10.14 EPS for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.6%. American Tower’s dividend payout ratio is 247.27%.

Insider Buying and Selling

In related news, CEO Juan Font sold 720 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the transaction, the chief executive officer directly owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. ABLE Financial Group LLC boosted its position in American Tower by 13.5% during the third quarter. ABLE Financial Group LLC now owns 5,782 shares of the real estate investment trust’s stock valued at $1,112,000 after purchasing an additional 688 shares during the last quarter. Marion Wealth Management raised its stake in American Tower by 1.5% in the third quarter. Marion Wealth Management now owns 6,012 shares of the real estate investment trust’s stock valued at $1,156,000 after buying an additional 88 shares during the period. Diversified Enterprises LLC raised its stake in American Tower by 18.5% in the third quarter. Diversified Enterprises LLC now owns 2,433 shares of the real estate investment trust’s stock valued at $468,000 after buying an additional 380 shares during the period. Lineweaver Wealth Advisors LLC raised its stake in American Tower by 6.8% in the third quarter. Lineweaver Wealth Advisors LLC now owns 5,494 shares of the real estate investment trust’s stock valued at $1,057,000 after buying an additional 352 shares during the period. Finally, Sarasin & Partners LLP raised its stake in American Tower by 11.2% in the third quarter. Sarasin & Partners LLP now owns 863,830 shares of the real estate investment trust’s stock valued at $168,058,000 after buying an additional 87,294 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Company Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.