Raymond James Financial Has Lowered Expectations for American Tower (NYSE:AMT) Stock Price

American Tower (NYSE:AMT) had its target price dropped by Raymond James Financial from $231.00 to $229.00 in a note issued to investors on Friday,MarketScreener reports. The brokerage presently has a “strong-buy” rating on the real estate investment trust’s stock. Raymond James Financial’s price objective suggests a potential upside of 28.16% from the company’s current price.

A number of other brokerages have also recently commented on AMT. Argus set a $210.00 price target on American Tower in a research report on Thursday, October 30th. UBS Group dropped their target price on American Tower from $260.00 to $254.00 and set a “buy” rating on the stock in a report on Tuesday. TD Cowen reduced their price target on American Tower from $249.00 to $235.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. The Goldman Sachs Group dropped their price target on shares of American Tower from $230.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 16th. Finally, Scotiabank decreased their target price on shares of American Tower from $248.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average price target of $218.79.

American Tower Price Performance

Shares of AMT stock opened at $178.68 on Friday. The business’s fifty day moving average is $177.51 and its 200 day moving average is $191.76. 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 stock has a market cap of $83.65 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 0.74 and a beta of 0.92. American Tower has a twelve month low of $166.88 and a twelve month 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 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. The firm had revenue of $2.72 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Research analysts expect that American Tower will post 10.14 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the completion of the sale, the insider owned 211,379 shares of the company’s stock, valued at $14,743,685.25. This represents a 91.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eugene F. Reilly purchased 5,554 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were acquired at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the purchase, the director directly owned 5,689 shares in the company, valued at approximately $1,018,274.11. The trade was a 4,114.07% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AMT. Legacy Investment Solutions LLC purchased a new stake in shares of American Tower in the second quarter worth $31,000. Abound Wealth Management increased its stake in American Tower by 137.3% in the 3rd quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 81 shares in the last quarter. Triumph Capital Management bought a new stake in American Tower during the third quarter valued at about $29,000. VSM Wealth Advisory LLC lifted its position in shares of American Tower by 136.4% in the second quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 90 shares in the last quarter. Finally, Holos Integrated Wealth LLC bought a new position in shares of American Tower in the fourth quarter worth about $27,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

About American Tower

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.