American Tower (NYSE:AMT) Now Covered by Truist Financial

Truist Financial initiated coverage on shares of American Tower (NYSE:AMT) in a research report released on Tuesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $205.00 target price on the real estate investment trust’s stock.

Several other analysts have also recently commented on the company. Scotiabank decreased their target price on American Tower from $220.00 to $214.00 and set a “sector outperform” rating on the stock in a report on Wednesday, February 25th. Mizuho reduced their price target on shares of American Tower from $217.00 to $189.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. Jefferies Financial Group increased their price objective on shares of American Tower from $200.00 to $209.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Royal Bank Of Canada lowered their price objective on shares of American Tower from $220.00 to $195.00 and set a “sector perform” rating for the company in a research report on Monday, January 12th. Finally, Sanford C. Bernstein began coverage on shares of American Tower in a research note on Thursday, March 5th. They issued a “market perform” rating and a $205.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $216.76.

American Tower Stock Performance

NYSE:AMT opened at $172.53 on Tuesday. The stock has a market capitalization of $80.41 billion, a P/E ratio of 32.01, a price-to-earnings-growth ratio of 0.72 and a beta of 0.92. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 3.27. American Tower has a 1 year low of $165.08 and a 1 year high of $234.33. The firm has a 50 day moving average of $181.32 and a 200-day moving average of $182.06.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, February 24th. The real estate investment trust reported $1.75 EPS for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.79). American Tower had a return on equity of 24.36% and a net margin of 23.76%.The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter last year, the company earned $2.62 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. American Tower has set its FY 2026 guidance at 10.780-10.950 EPS. As a group, sell-side analysts anticipate that American Tower will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, April 14th will be paid a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 4.1%. This is a boost from American Tower’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Tuesday, April 14th. American Tower’s payout ratio is currently 126.16%.

Insider Activity

In other American Tower news, Director Rajesh Kalathur bought 2,671 shares of American Tower stock in a transaction dated Tuesday, March 10th. The shares were bought at an average price of $185.30 per share, with a total value of $494,936.30. Following the purchase, the director owned 4,936 shares of the company’s stock, valued at $914,640.80. This trade represents a 117.92% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Eugene M. Noel sold 41,209 shares of American Tower stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $191.05, for a total transaction of $7,872,979.45. Following the sale, the chief operating officer owned 29,592 shares of the company’s stock, valued at approximately $5,653,551.60. This represents a 58.20% decrease in their position. The SEC filing for this sale provides additional information. 0.18% of the stock is owned by company insiders.

Institutional Trading of American Tower

A number of institutional investors have recently bought and sold shares of AMT. Abound Wealth Management lifted its stake in shares of American Tower by 137.3% in the 3rd quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 81 shares during the period. Oakworth Capital Inc. grew its stake in shares of American Tower by 90.7% during the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 68 shares during the period. Richards Merrill & Peterson Inc. bought a new stake in American Tower in the fourth quarter valued at about $25,000. Swiss RE Ltd. acquired a new position in American Tower in the fourth quarter valued at about $25,000. Finally, Triumph Capital Management acquired a new position in American Tower in the third quarter valued at about $29,000. Institutional investors and hedge funds 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.