Barclays Cuts American Tower (NYSE:AMT) Price Target to $203.00

by · The Markets Daily

American Tower (NYSE:AMT – Get Free Report) had its price target reduced by stock analysts at Barclays from $251.00 to $203.00 in a research report issued on Monday,MarketScreener reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price objective suggests a potential upside of 11.40% from the company’s current price.

A number of other research analysts have also commented on the company. Raymond James Financial reiterated a “strong-buy” rating and issued a $231.00 price objective (down from $250.00) on shares of American Tower in a research report on Wednesday, October 29th. Citigroup reiterated a “market outperform” rating on shares of American Tower in a research report on Wednesday, October 29th. The Goldman Sachs Group cut their target price on shares of American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Royal Bank Of Canada set a $220.00 price target on shares of American Tower and gave the stock a “sector perform” rating in a research note on Wednesday, October 1st. Finally, Jefferies Financial Group reduced their price objective on shares of American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $228.44.

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American Tower Stock Down 0.7%

Shares of NYSE:AMT opened at $182.23 on Monday. The company has a quick ratio of 0.95, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. The firm has a market cap of $85.31 billion, a P/E ratio of 29.11, a P/E/G ratio of 1.08 and a beta of 0.85. American Tower has a 12 month low of $172.51 and a 12 month high of $234.33. The company’s 50-day moving average price is $188.36 and its two-hundred day moving average price is $205.29.

American Tower (NYSE:AMT – Get Free Report) last announced its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, topping 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 company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the previous year, the firm posted $2.52 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, research analysts forecast that American Tower will post 10.14 EPS for the current fiscal year.

Insider Activity

In other news, Director Eugene F. Reilly purchased 5,554 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was bought at an average price of $178.99 per share, with a total value of $994,110.46. Following the acquisition, the director directly owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. This represents a 4,114.07% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMT. Focus Financial Network Inc. boosted its stake in shares of American Tower by 9.1% during the 2nd 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 last quarter. Resolution Capital Ltd bought a new stake in American Tower during the first quarter worth about $72,706,000. Stack Financial Management Inc acquired a new position in American Tower during the second quarter valued at approximately $13,020,000. Los Angeles Capital Management LLC increased its position in shares of American Tower by 52.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 321,661 shares of the real estate investment trust’s stock worth $71,094,000 after purchasing an additional 110,671 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of American Tower by 1.0% during the 2nd quarter. Nordea Investment Management AB now owns 1,532,818 shares of the real estate investment trust’s stock worth $334,430,000 after purchasing an additional 15,920 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Company Profile

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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.

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