American Tower (NYSE:AMT) Cut to “Sector Perform” at Royal Bank Of Canada

Royal Bank Of Canada lowered shares of American Tower (NYSE:AMT) from an outperform rating to a sector perform rating in a research note released on Wednesday morning, Marketbeat reports. The brokerage currently has $220.00 price target on the real estate investment trust’s stock, down from their previous price target of $260.00.

A number of other research analysts have also issued reports on the company. Hsbc Global Res lowered American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. UBS Group lifted their target price on American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. lifted their target price on American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. HSBC lowered American Tower from a “buy” rating to a “hold” rating and set a $235.00 target price on the stock. in a report on Wednesday, July 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $245.00 target price (down from $250.00) on shares of American Tower in a report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $242.07.

American Tower Trading Down 0.6%

NYSE:AMT opened at $190.10 on Wednesday. American Tower has a 1 year low of $172.51 and a 1 year high of $234.33. The stock has a market cap of $89.01 billion, a price-to-earnings ratio of 69.13, a PEG ratio of 1.18 and a beta of 0.86. The business has a fifty day moving average of $201.53 and a 200-day moving average of $211.76. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95.

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

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be given a dividend of $1.70 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 3.6%. American Tower’s dividend payout ratio (DPR) is presently 247.27%.

Insider Buying and Selling

In other American Tower news, CEO Juan Font sold 720 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On American Tower

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in American Tower by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 63,028,367 shares of the real estate investment trust’s stock worth $13,930,530,000 after acquiring an additional 218,881 shares during the period. JPMorgan Chase & Co. boosted its position in American Tower by 24.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock worth $2,799,458,000 after acquiring an additional 2,474,328 shares during the period. Price T Rowe Associates Inc. MD boosted its position in American Tower by 39.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock worth $1,772,144,000 after acquiring an additional 2,309,627 shares during the period. Deutsche Bank AG raised its stake in shares of American Tower by 4.0% during the 1st quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust’s stock worth $1,606,621,000 after purchasing an additional 285,195 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of American Tower by 11.9% in the 2nd quarter. Invesco Ltd. now owns 6,680,524 shares of the real estate investment trust’s stock valued at $1,476,529,000 after buying an additional 708,808 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

About American Tower

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.