American Tower (NYSE:AMT) Cut to “Equal Weight” at Barclays

Barclays cut shares of American Tower (NYSE:AMT) from an overweight rating to an equal weight rating in a report issued on Monday, Marketbeat reports. Barclays currently has $200.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $203.00.

Several other equities research analysts also recently issued reports on the company. Wells Fargo & Company lowered their price target on American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. BMO Capital Markets cut their target price on shares of American Tower from $220.00 to $215.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. The Goldman Sachs Group reduced their target price on shares of American Tower from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Wall Street Zen upgraded American Tower from a “sell” rating to a “hold” rating in a research note on Sunday, October 12th. Finally, TD Cowen cut 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. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $228.00.

American Tower Stock Performance

Shares of NYSE AMT opened at $176.11 on Monday. American Tower has a one year low of $172.51 and a one year high of $234.33. The business’s 50-day moving average price is $184.54 and its two-hundred day moving average price is $202.03. 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 company has a market capitalization of $82.45 billion, a P/E ratio of 28.13, a price-to-earnings-growth ratio of 0.70 and a beta of 0.91.

American Tower (NYSE:AMT) last posted 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 firm had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the previous year, the company earned $2.52 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Analysts anticipate that American Tower will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were given a dividend of $1.70 per share. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.9%. American Tower’s payout ratio is presently 108.63%.

Insider Activity

In related news, Director Eugene F. Reilly purchased 5,554 shares of the stock in a transaction dated Friday, October 31st. The stock was bought at an average cost of $178.99 per share, with a total value of $994,110.46. Following the purchase, the director directly owned 5,689 shares in the company, valued at $1,018,274.11. The trade was a 4,114.07% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On American Tower

Large investors have recently made changes to their positions in the stock. Blossom Wealth Management grew its position in American Tower by 1.8% during the second quarter. Blossom Wealth Management now owns 2,601 shares of the real estate investment trust’s stock worth $575,000 after buying an additional 45 shares in the last quarter. TFG Advisers LLC lifted its position in American Tower by 0.3% during the second 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 during the period. Novem Group raised its position in shares of American Tower by 3.8% in the 2nd quarter. Novem Group now owns 1,316 shares of the real estate investment trust’s stock valued at $291,000 after buying an additional 48 shares in the last quarter. Analyst IMS Investment Management Services Ltd. boosted its position in shares of American Tower by 3.6% during the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 1,370 shares of the real estate investment trust’s stock worth $303,000 after acquiring an additional 48 shares in the last quarter. Finally, Marion Wealth Management increased its stake in American Tower by 0.8% in the second quarter. Marion Wealth Management now owns 5,924 shares of the real estate investment trust’s stock valued at $1,309,000 after acquiring an additional 48 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

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.