Royal Bank Of Canada Reiterates “Sector Perform” Rating for American Tower (NYSE:AMT)

American Tower (NYSE:AMT)‘s stock had its “sector perform” rating reiterated by equities research analysts at Royal Bank Of Canada in a research note issued to investors on Friday,Benzinga reports. They currently have a $220.00 price target on the real estate investment trust’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 27.65% from the stock’s current price.

AMT has been the topic of several other research reports. Citigroup reiterated a “market outperform” rating on shares of American Tower in a research note on Wednesday, October 29th. Weiss Ratings restated a “hold (c)” rating on shares of American Tower in a research note on Monday, December 15th. Morgan Stanley cut their price target on American Tower from $255.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, December 4th. BMO Capital Markets decreased their price objective on American Tower from $215.00 to $210.00 and set an “outperform” rating for the company in a report on Wednesday, December 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of American Tower from $255.00 to $250.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.67.

American Tower Price Performance

AMT opened at $172.35 on Friday. American Tower has a fifty-two week low of $171.95 and a fifty-two week high of $234.33. The firm has a 50-day moving average of $181.93 and a 200 day moving average of $199.14. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $80.69 billion, a P/E ratio of 27.53, a PEG ratio of 0.69 and a beta of 0.91.

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

Insider Transactions at American Tower

In other news, Director Eugene F. Reilly bought 5,554 shares of the firm’s stock in a transaction that occurred on 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 acquisition, the director owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. The trade was a 4,114.07% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the completion of the transaction, the insider directly owned 211,379 shares of the company’s stock, valued at approximately $14,743,685.25. The trade was a 91.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On American Tower

A number of institutional investors and hedge funds have recently made changes to their positions in AMT. Legacy Investment Solutions LLC purchased a new position in American Tower during the second quarter worth about $31,000. Abound Wealth Management boosted its position in shares of American Tower by 137.3% during the 3rd quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 81 shares during the last quarter. Triumph Capital Management purchased a new position in shares of American Tower during the third quarter worth about $29,000. VSM Wealth Advisory LLC increased its position in shares of American Tower by 136.4% in the second quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 90 shares during the last quarter. Finally, Root Financial Partners LLC purchased a new stake in American Tower in the third quarter valued at approximately $32,000. Hedge funds and other 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.