Royal Bank Of Canada Lowers American Tower (NYSE:AMT) Price Target to $195.00

American Tower (NYSE:AMT) had its price objective reduced by analysts at Royal Bank Of Canada from $220.00 to $195.00 in a report released on Monday,MarketScreener reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 7.42% from the company’s previous close.

Several other equities research analysts have also recently commented on AMT. Scotiabank dropped their price target on shares of American Tower from $248.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of American Tower in a report on Monday, December 29th. New Street Research raised shares of American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price objective on the stock in a research report on Monday, January 5th. Argus set a $210.00 target price on American Tower in a research note on Thursday, October 30th. Finally, JPMorgan Chase & Co. cut their price target on shares of American Tower from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $220.26.

American Tower Price Performance

NYSE AMT traded up $4.06 during trading hours on Monday, reaching $181.54. 3,868,274 shares of the company’s stock were exchanged, compared to its average volume of 2,848,985. The firm has a fifty day moving average of $177.66 and a 200-day moving average of $193.80. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.24. The stock has a market cap of $84.99 billion, a PE ratio of 29.00, a price-to-earnings-growth ratio of 0.70 and a beta of 0.92. American Tower has a one year low of $166.88 and a one year high of $234.33.

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

Insider Activity

In other American Tower news, 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 value of $159,631,314.75. Following the sale, the insider owned 211,379 shares in the company, valued at $14,743,685.25. This represents a 91.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eugene F. Reilly bought 5,554 shares of American Tower stock in a transaction dated Friday, October 31st. The shares were acquired at an average price of $178.99 per share, with a total value of $994,110.46. Following the completion of the purchase, the director directly owned 5,689 shares in the company, valued at $1,018,274.11. This trade represents a 4,114.07% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of American Tower during the 2nd quarter worth $1,371,875,000. Lazard Asset Management LLC increased its holdings in American Tower by 1,984.8% in the third quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust’s stock valued at $858,552,000 after purchasing an additional 4,250,242 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of American Tower by 24.3% in the second quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock worth $2,799,458,000 after acquiring an additional 2,474,328 shares during the period. 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 purchasing an additional 1,958,329 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in American Tower during the 3rd quarter worth about $305,872,000. 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.