American Tower (NYSE:AMT) Given “Sector Perform” Rating at Royal Bank Of Canada

Royal Bank Of Canada restated their sector perform rating on shares of American Tower (NYSE:AMT) in a research note released on Friday,Benzinga reports. Royal Bank Of Canada currently has a $220.00 price objective on the real estate investment trust’s stock.

Several other research analysts have also recently commented on the stock. HSBC lowered their target price on shares of American Tower from $235.00 to $205.00 in a report on Wednesday, October 29th. Argus set a $210.00 price objective on American Tower in a research note on Thursday, October 30th. Citigroup reiterated a “market outperform” rating on shares of American Tower in a research report on Wednesday, October 29th. TD Cowen reduced their target price on American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Finally, Wall Street Zen raised American Tower from a “sell” rating to a “hold” rating in a research note on Sunday, October 12th. Two investment 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $226.67.

American Tower Stock Performance

Shares of NYSE AMT opened at $172.35 on Friday. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $80.69 billion, a price-to-earnings ratio of 27.53, a P/E/G ratio of 0.70 and a beta of 0.91. The stock’s fifty day moving average price is $181.93 and its two-hundred day moving average price is $199.24. American Tower has a one year low of $171.95 and a one year high of $234.33.

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

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, December 29th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Monday, December 29th. American Tower’s dividend payout ratio is currently 108.63%.

Insider Transactions at American Tower

In related news, Director Eugene F. Reilly purchased 5,554 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were bought at an average cost of $178.99 per share, with a total value of $994,110.46. Following the acquisition, the director owned 5,689 shares of the company’s stock, valued at $1,018,274.11. This trade represents a 4,114.07% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the transaction, the insider owned 211,379 shares of the company’s stock, valued at approximately $14,743,685.25. This represents a 91.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.17% of the company’s stock.

Institutional Trading of American Tower

A number of hedge funds and other institutional investors have recently modified their holdings of AMT. Blossom Wealth Management boosted its holdings in shares of American Tower by 1.8% during the 2nd quarter. Blossom Wealth Management now owns 2,601 shares of the real estate investment trust’s stock valued at $575,000 after acquiring an additional 45 shares in the last quarter. TFG Advisers LLC increased its holdings 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 purchasing an additional 47 shares in the last quarter. Novem Group raised its position in American Tower by 3.8% in the second quarter. Novem Group now owns 1,316 shares of the real estate investment trust’s stock valued at $291,000 after purchasing an additional 48 shares during the last quarter. Analyst IMS Investment Management Services Ltd. boosted its stake in shares of American Tower by 3.6% during the second quarter. Analyst IMS Investment Management Services Ltd. now owns 1,370 shares of the real estate investment trust’s stock valued at $303,000 after purchasing an additional 48 shares in the last quarter. Finally, Marion Wealth Management grew its holdings in shares of American Tower by 0.8% during the second quarter. Marion Wealth Management now owns 5,924 shares of the real estate investment trust’s stock worth $1,309,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Company Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.