Wells Fargo & Company Lowers American Tower (NYSE:AMT) Price Target to $200.00

American Tower (NYSE:AMT) had its target price cut by analysts at Wells Fargo & Company from $210.00 to $200.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 11.36% from the company’s previous close.

A number of other research firms also recently commented on AMT. Morgan Stanley decreased their target price on American Tower from $270.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. BMO Capital Markets decreased their target price on American Tower from $220.00 to $215.00 and set an “outperform” rating on the stock in a research report on Wednesday. Jefferies Financial Group decreased their price objective on American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Wall Street Zen raised American Tower from a “sell” rating to a “hold” rating in a report on Sunday, October 12th. Finally, Barclays upped their price objective on American Tower from $250.00 to $251.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $230.88.

American Tower Price Performance

AMT stock opened at $179.60 on Wednesday. American Tower has a one year low of $172.51 and a one year high of $234.33. The company’s fifty day moving average price is $193.35 and its 200-day moving average price is $208.32. 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 company has a market capitalization of $84.10 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 1.08 and a beta of 0.86.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, topping the consensus estimate of $2.64 by $0.14. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.65 billion. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, equities analysts anticipate that American Tower will post 10.14 EPS for the current fiscal year.

Institutional Investors Weigh In On American Tower

Several hedge funds and other institutional investors have recently made changes to their positions in AMT. Norges Bank purchased a new stake in shares of American Tower in the second quarter valued at $1,371,875,000. Nuveen LLC purchased a new stake in American Tower in the 1st quarter worth about $991,525,000. JPMorgan Chase & Co. raised its position in 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 worth $2,799,458,000 after purchasing an additional 2,474,328 shares during the period. Price T Rowe Associates Inc. MD raised its position in 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 worth $1,772,144,000 after purchasing an additional 2,309,627 shares during the period. Finally, Viking Global Investors LP raised its holdings in shares of American Tower by 233.5% in 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 buying an additional 1,958,329 shares during the period. Hedge funds and other institutional investors 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.