Citigroup Issues Pessimistic Forecast for American Tower (NYSE:AMT) Stock Price

American Tower (NYSE:AMT) had its price objective decreased by stock analysts at Citigroup from $250.00 to $225.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Citigroup’s target price suggests a potential upside of 17.43% from the company’s current price.

Several other analysts also recently issued reports on the company. HSBC downgraded American Tower from a “buy” rating to a “hold” rating and set a $235.00 price objective on the stock. in a report on Wednesday, July 30th. Barclays boosted their price objective on American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. BMO Capital Markets restated an “outperform” rating and set a $245.00 price objective (down previously from $250.00) on shares of American Tower in a report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price objective on American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, UBS Group boosted their price objective on American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $238.00.

American Tower Price Performance

Shares of NYSE AMT opened at $191.60 on Thursday. American Tower has a twelve month low of $172.51 and a twelve month high of $234.33. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. The company has a market capitalization of $89.72 billion, a price-to-earnings ratio of 69.67, a PEG ratio of 1.16 and a beta of 0.86. The firm has a 50-day moving average of $196.63 and a two-hundred day moving average of $209.89.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the company earned $2.79 EPS. American Tower’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. As a group, analysts expect that American Tower will post 10.14 earnings per share for the current fiscal year.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of the company’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. This represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American Tower

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of American Tower by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 63,028,367 shares of the real estate investment trust’s stock valued at $13,930,530,000 after purchasing an additional 218,881 shares during the period. JPMorgan Chase & Co. grew its stake in shares of American Tower by 24.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock valued at $2,799,458,000 after buying an additional 2,474,328 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of American Tower by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock valued at $1,772,144,000 after buying an additional 2,309,627 shares in the last quarter. Deutsche Bank AG grew its stake in shares of American Tower by 4.0% in the 1st quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust’s stock valued at $1,606,621,000 after buying 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. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.