Barclays Downgrades American Tower (NYSE:AMT) to Equal Weight

American Tower (NYSE:AMT) was downgraded by research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Monday, Marketbeat reports. They currently have a $200.00 target price on the real estate investment trust’s stock, down from their previous target price of $203.00. Barclays‘s price target would indicate a potential upside of 13.73% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Argus set a $210.00 target price on American Tower in a report on Thursday, October 30th. Citigroup reiterated a “market outperform” rating on shares of American Tower in a research note on Wednesday, October 29th. The Goldman Sachs Group dropped their target price on shares of American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Wall Street Zen upgraded shares of American Tower from a “sell” rating to a “hold” rating in a report on Sunday, October 12th. Finally, TD Cowen decreased their price target on shares of American Tower from $249.00 to $235.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $228.28.

American Tower Price Performance

AMT stock opened at $175.86 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. The firm has a market cap of $82.33 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 0.70 and a beta of 0.91. The company’s fifty day simple moving average is $184.88 and its 200 day simple moving average is $202.21. American Tower has a 12-month low of $172.51 and a 12-month high of $234.33.

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

Insider Buying and Selling at American Tower

In related news, Director Eugene F. Reilly bought 5,554 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were bought at an average price of $178.99 per share, with a total value of $994,110.46. Following the completion of the transaction, the director directly owned 5,689 shares in the company, valued at approximately $1,018,274.11. This represents a 4,114.07% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AMT. Focus Financial Network Inc. raised its holdings in American Tower by 9.1% in the 2nd quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock worth $451,000 after purchasing an additional 170 shares during the period. Resolution Capital Ltd purchased a new stake in American Tower in the first quarter worth about $72,706,000. Stack Financial Management Inc purchased a new stake in American Tower in the second quarter worth about $13,020,000. Los Angeles Capital Management LLC raised its stake in shares of American Tower by 52.5% in the second quarter. Los Angeles Capital Management LLC now owns 321,661 shares of the real estate investment trust’s stock worth $71,094,000 after buying an additional 110,671 shares during the period. Finally, Nordea Investment Management AB lifted its position in shares of American Tower by 1.0% during the 2nd quarter. Nordea Investment Management AB now owns 1,532,818 shares of the real estate investment trust’s stock valued at $334,430,000 after buying an additional 15,920 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

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.