American Tower (NYSE:AMT) Hits New 52-Week Low – What’s Next?

American Tower Corporation (NYSE:AMT) hit a new 52-week low during trading on Friday . The company traded as low as $172.21 and last traded at $172.49, with a volume of 2443643 shares changing hands. The stock had previously closed at $174.29.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AMT shares. Wall Street Zen raised shares of American Tower from a “sell” rating to a “hold” rating in a research note on Sunday, October 12th. Argus set a $210.00 price target on American Tower in a research report on Thursday, October 30th. The Goldman Sachs Group reduced their price objective on American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Jefferies Financial Group lowered their price objective on American Tower from $226.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, December 16th. Finally, TD Cowen cut their target price on American Tower from $249.00 to $235.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Two equities 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 stock. Based on data from MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus target price of $226.67.

American Tower Stock Down 1.1%

The firm has a 50-day moving average of $181.93 and a two-hundred day moving average of $199.14. 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 company has a market capitalization of $80.69 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 0.69 and a beta of 0.91.

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

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, December 29th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Monday, December 29th. American Tower’s dividend payout ratio (DPR) is 108.63%.

Insider Transactions at American Tower

In related news, Director Eugene F. Reilly bought 5,554 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was purchased at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the acquisition, the director owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total value of $159,631,314.75. Following the completion of the sale, the insider directly owned 211,379 shares in the company, valued at approximately $14,743,685.25. The trade was a 91.54% decrease in their position. The SEC filing for this sale provides additional information. 0.17% of the stock is owned by company insiders.

Institutional Investors Weigh In On American Tower

A number of institutional investors have recently modified their holdings of the company. Focus Financial Network Inc. increased its stake in shares of American Tower by 9.1% during the second quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock worth $451,000 after buying an additional 170 shares during the period. Resolution Capital Ltd purchased a new stake in shares of American Tower in the 1st quarter valued at approximately $72,706,000. Stack Financial Management Inc acquired a new stake in shares of American Tower in the 2nd quarter valued at $13,020,000. Los Angeles Capital Management LLC raised its holdings in shares of American Tower by 52.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 321,661 shares of the real estate investment trust’s stock valued at $71,094,000 after purchasing an additional 110,671 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of American Tower by 47.3% during the 2nd quarter. First Trust Advisors LP now owns 109,124 shares of the real estate investment trust’s stock worth $24,119,000 after purchasing an additional 35,037 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

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.