American Tower (NYSE:AMT) Price Target Cut to $245.00 by Analysts at JPMorgan Chase & Co.

American Tower (NYSE:AMT) had its price objective lowered by stock analysts at JPMorgan Chase & Co. from $250.00 to $245.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 43.78% from the stock’s current price.

Several other research analysts have also recently weighed in on the company. TD Cowen reduced their price objective on American Tower from $249.00 to $235.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Mizuho cut their target price on American Tower from $217.00 to $189.00 and set a “neutral” rating on the stock in a research note on Monday. HSBC decreased their price target on shares of American Tower from $235.00 to $205.00 in a research note on Wednesday, October 29th. UBS Group reissued a “buy” rating on shares of American Tower in a research report on Wednesday, December 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of American Tower in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $223.05.

American Tower Trading Up 1.1%

Shares of AMT traded up $1.89 during trading hours on Monday, reaching $170.40. The stock had a trading volume of 1,524,992 shares, compared to its average volume of 2,410,400. The company has a market cap of $79.77 billion, a P/E ratio of 27.20, a P/E/G ratio of 0.68 and a beta of 0.92. American Tower has a 52 week low of $166.88 and a 52 week high of $234.33. 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 firm has a 50-day moving average of $177.95 and a 200 day moving average of $194.55.

American Tower (NYSE:AMT) last issued its quarterly earnings data 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 company had revenue of $2.72 billion during 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 revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, sell-side analysts expect that American Tower will post 10.14 earnings per share for the current fiscal year.

Insider Activity

In other 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 transaction, the insider owned 211,379 shares of the company’s stock, valued at approximately $14,743,685.25. This represents a 91.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eugene F. Reilly purchased 5,554 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The shares were purchased at an average cost of $178.99 per share, with a total value of $994,110.46. Following the completion of the acquisition, the director 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 SEC filing for this purchase provides additional information. 0.17% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Abound Wealth Management boosted its position in shares of American Tower by 137.3% in the third 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 period. Holos Integrated Wealth LLC acquired a new stake in American Tower in the 4th quarter worth about $27,000. Triumph Capital Management bought a new stake in American Tower in the 3rd quarter valued at about $29,000. Legacy Investment Solutions LLC acquired a new position in shares of American Tower during the 2nd quarter worth approximately $31,000. Finally, Root Financial Partners LLC bought a new position in shares of American Tower during the third quarter worth approximately $32,000. 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.