American Tower (NYSE:AMT) Price Target Cut to $203.00 by Analysts at Barclays

American Tower (NYSE:AMT) had its target price lowered by Barclays from $251.00 to $203.00 in a research report report published on Monday morning, MarketBeat Ratings reports. Barclays currently has an overweight rating on the real estate investment trust’s stock.

A number of other research firms have also issued reports on AMT. Hsbc Global Res lowered American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. The Goldman Sachs Group decreased their price target on American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. JPMorgan Chase & Co. lowered their price target on shares of American Tower from $255.00 to $250.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. BMO Capital Markets reduced their price objective on shares of American Tower from $220.00 to $215.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of American Tower in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and a consensus target price of $228.44.

American Tower Stock Performance

Shares of AMT stock opened at $180.41 on Monday. The firm’s 50 day moving average is $188.10 and its 200 day moving average is $204.98. The stock has a market capitalization of $84.46 billion, a P/E ratio of 28.82, a PEG ratio of 1.08 and a beta of 0.85. American Tower has a 12 month low of $172.51 and a 12 month high of $234.33. The company has a current ratio of 0.89, a quick ratio of 0.95 and a debt-to-equity ratio of 3.24.

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

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Tuesday, September 30th. American Tower’s dividend payout ratio is presently 108.63%.

Insider Buying and Selling at American Tower

In other news, Director Eugene F. Reilly bought 5,554 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was bought at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the transaction, the director directly owned 5,689 shares of the company’s stock, valued at $1,018,274.11. This represents a 4,114.07% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On American Tower

A number of hedge funds have recently made changes to their positions in AMT. Brighton Jones LLC grew its stake in shares of American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after buying an additional 2,104 shares during the last quarter. Jennison Associates LLC grew its position in American Tower by 23.2% during the 1st quarter. Jennison Associates LLC now owns 52,694 shares of the real estate investment trust’s stock worth $11,466,000 after acquiring an additional 9,932 shares during the last quarter. OneAscent Financial Services LLC increased its stake in American Tower by 5.0% in the 1st quarter. OneAscent Financial Services LLC now owns 2,409 shares of the real estate investment trust’s stock worth $526,000 after purchasing an additional 115 shares during the period. J.W. Cole Advisors Inc. increased its stake in American Tower by 260.8% in the 1st quarter. J.W. Cole Advisors Inc. now owns 7,090 shares of the real estate investment trust’s stock worth $1,543,000 after purchasing an additional 5,125 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its position in American Tower by 1.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 103,958 shares of the real estate investment trust’s stock valued at $22,622,000 after purchasing an additional 1,568 shares during the last quarter. 92.69% of the stock is currently 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.