BMO Capital Markets Issues Pessimistic Forecast for American Tower (NYSE:AMT) Stock Price

American Tower (NYSE:AMT) had its price target decreased by investment analysts at BMO Capital Markets from $220.00 to $215.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. BMO Capital Markets’ target price would indicate a potential upside of 19.71% from the company’s current price.

Several other research analysts have also weighed in on AMT. Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a research report on Wednesday, October 8th. The Goldman Sachs Group reiterated a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. Barclays lifted their price objective on shares of American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Morgan Stanley lowered their price objective 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. Finally, UBS Group boosted their target price on American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a research 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 assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.88.

American Tower Stock Up 0.3%

American Tower stock 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. American Tower has a 52-week low of $172.51 and a 52-week high of $234.33. The firm 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 cap of $84.10 billion, a price-to-earnings ratio of 28.69, a PEG ratio of 1.08 and a beta of 0.86.

American Tower (NYSE:AMT) last released 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 net margin of 28.11% and a return on equity of 28.79%. The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter last year, the business earned $2.52 EPS. The company’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 predict that American Tower will post 10.14 EPS for the current year.

Institutional Investors Weigh In On American Tower

A number of institutional investors have recently added to or reduced their stakes in AMT. Norges Bank bought a new position in shares of American Tower during the 2nd quarter worth $1,371,875,000. Nuveen LLC bought a new position in shares of American Tower during the 1st quarter worth $991,525,000. JPMorgan Chase & Co. boosted its position in American Tower by 24.3% during the second quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock worth $2,799,458,000 after purchasing 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 first 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 purchasing an additional 2,309,627 shares during the period. Finally, Viking Global Investors LP boosted its position in American Tower by 233.5% during the second quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust’s stock worth $618,221,000 after purchasing an additional 1,958,329 shares during the period. 92.69% of the stock is owned by institutional investors.

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.