American Tower (NYSE:AMT) Given New $215.00 Price Target at BMO Capital Markets

American Tower (NYSE:AMT) had its price target decreased by BMO Capital Markets from $220.00 to $215.00 in a research note released on Wednesday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the real estate investment trust’s stock.

A number of other research analysts also recently issued reports on AMT. Barclays raised their price target on shares of American Tower from $250.00 to $251.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. JPMorgan Chase & Co. boosted their target price on shares of American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Wells Fargo & Company reduced their target price on shares of American Tower from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the company a “strong-buy” rating in a research note on Wednesday, July 30th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $234.31.

American Tower Trading Down 2.0%

American Tower stock opened at $179.13 on Wednesday. The firm’s 50-day moving average is $193.96 and its 200-day moving average is $208.52. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.95 and a current ratio of 0.89. American Tower has a 1 year low of $172.51 and a 1 year high of $234.33. The company has a market cap of $83.88 billion, a P/E ratio of 28.61, a PEG ratio of 1.11 and a beta of 0.86.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $2.65 billion. During the same period last year, the firm posted $2.52 EPS. 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, equities analysts expect that American Tower will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s dividend payout ratio is currently 247.27%.

Institutional Trading of American Tower

A number of institutional investors have recently made changes to their positions in AMT. Brighton Jones LLC lifted its stake in shares of American Tower by 113.0% in the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after acquiring an additional 2,104 shares during the period. Golden State Wealth Management LLC raised its holdings in shares of American Tower by 23.0% in the 1st quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 69 shares in the last quarter. Avidian Wealth Enterprises LLC bought a new stake in shares of American Tower in the 1st quarter worth approximately $200,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of American Tower by 1.5% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 60,017 shares of the real estate investment trust’s stock worth $13,060,000 after purchasing an additional 875 shares in the last quarter. Finally, Arbor Capital Management Inc. ADV raised its holdings in shares of American Tower by 4.7% in the 1st quarter. Arbor Capital Management Inc. ADV now owns 6,896 shares of the real estate investment trust’s stock worth $1,512,000 after purchasing an additional 309 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Company Profile

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.