American Tower (NYSE:AMT) Earns Strong-Buy Rating from Raymond James Financial

American Tower (NYSE:AMT)‘s stock had its “strong-buy” rating reaffirmed by research analysts at Raymond James Financial in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $231.00 price target on the real estate investment trust’s stock, down from their previous price target of $250.00. Raymond James Financial’s target price would suggest a potential upside of 28.62% from the company’s current price.

Other analysts have also issued research reports about the stock. Morgan Stanley reduced their target price on shares of American Tower from $270.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. UBS Group upped their price objective on shares of American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Wall Street Zen raised shares of American Tower from a “sell” rating to a “hold” rating in a research report on Sunday, October 12th. JPMorgan Chase & Co. upped their price objective on shares of American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Finally, Hsbc Global Res lowered American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $230.88.

American Tower Stock Performance

Shares of AMT opened at $179.60 on Wednesday. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.95 and a current ratio of 0.89. The stock has a 50 day moving average price of $193.35 and a two-hundred day moving average price of $208.32. The firm has a market capitalization of $84.10 billion, a P/E ratio of 28.69, a P/E/G ratio of 1.08 and a beta of 0.86. American Tower has a 52 week low of $172.51 and a 52 week high of $234.33.

American Tower (NYSE:AMT) last announced its quarterly 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 return on equity of 28.79% and a net margin of 28.11%.The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the prior year, the company posted $2.52 earnings per share. American Tower’s revenue was up 7.7% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Equities analysts forecast that American Tower will post 10.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On American Tower

Institutional investors and hedge funds have recently bought and sold shares of the company. Blossom Wealth Management lifted its stake in American Tower by 1.8% during the second quarter. Blossom Wealth Management now owns 2,601 shares of the real estate investment trust’s stock worth $575,000 after purchasing an additional 45 shares during the last quarter. TFG Advisers LLC lifted its position in American Tower by 0.3% in the 2nd quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust’s stock worth $3,578,000 after buying an additional 47 shares during the last quarter. Novem Group lifted its holdings in shares of American Tower by 3.8% in the 2nd quarter. Novem Group now owns 1,316 shares of the real estate investment trust’s stock worth $291,000 after acquiring an additional 48 shares during the last quarter. Analyst IMS Investment Management Services Ltd. lifted its holdings in shares of American Tower by 3.6% in the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 1,370 shares of the real estate investment trust’s stock worth $303,000 after acquiring an additional 48 shares during the last quarter. Finally, Marion Wealth Management lifted its holdings in shares of American Tower by 0.8% in the 2nd quarter. Marion Wealth Management now owns 5,924 shares of the real estate investment trust’s stock worth $1,309,000 after acquiring an additional 48 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

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.