American Tower (NYSE:AMT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of American Tower (NYSE:AMT) from a sell rating to a hold rating in a report released on Sunday.

AMT has been the subject of several other reports. Hsbc Global Res downgraded American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Wells Fargo & Company cut their target price on American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Raymond James Financial set a $250.00 target price on American Tower and gave the stock a “strong-buy” rating in a research note on Wednesday, July 30th. Royal Bank Of Canada set a $220.00 target price on American Tower and gave the stock a “sector perform” rating in a research note on Wednesday, October 1st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $245.00 target price (down from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $241.06.

American Tower Stock Up 1.8%

NYSE AMT opened at $186.43 on Friday. The business has a fifty day moving average price of $197.68 and a 200 day moving average price of $210.40. American Tower has a one year low of $172.51 and a one year high of $234.33. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $87.30 billion, a P/E ratio of 67.79, a P/E/G ratio of 1.11 and a beta of 0.86.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating the consensus estimate of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the company earned $2.79 EPS. The firm’s revenue was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Research analysts anticipate that American Tower will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.70 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. American Tower’s dividend payout ratio is currently 247.27%.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the transaction, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On American Tower

Several institutional investors have recently bought and sold shares of AMT. Norges Bank purchased a new position in shares of American Tower in the 2nd quarter valued at about $1,371,875,000. Nuveen LLC purchased a new position in shares of American Tower in the 1st quarter valued at about $991,525,000. JPMorgan Chase & Co. boosted its stake in shares of American Tower by 24.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock valued at $2,799,458,000 after buying an additional 2,474,328 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of American Tower by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock valued at $1,772,144,000 after buying an additional 2,309,627 shares during the period. Finally, Viking Global Investors LP boosted its stake in shares of American Tower by 233.5% in the 2nd quarter. Viking Global Investors LP now owns 2,797,125 shares of the real estate investment trust’s stock valued at $618,221,000 after buying an additional 1,958,329 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

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.