American Tower (NYSE:AMT) Reaches New 1-Year Low – Here’s Why

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on AMT shares. JPMorgan Chase & Co. lowered their price target on shares of American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c)” rating on shares of American Tower in a research note on Monday. The Goldman Sachs Group decreased their price objective on American Tower from $250.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. BMO Capital Markets cut their price target on shares of American Tower from $215.00 to $210.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 3rd. Finally, HSBC cut their price objective on American Tower from $235.00 to $205.00 in a report on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $226.67.

American Tower Stock Down 1.1%

The stock has a market cap of $80.69 billion, a P/E ratio of 27.53, a PEG ratio of 0.71 and a beta of 0.91. The firm has a 50-day simple moving average of $182.21 and a two-hundred day simple moving average of $199.53. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.24.

American Tower (NYSE:AMT) last announced its 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. The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Equities research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Monday, December 29th. American Tower’s dividend payout ratio is presently 108.63%.

Insider Buying and Selling at American Tower

In other American Tower news, Director Eugene F. Reilly bought 5,554 shares of the business’s stock in a transaction on Friday, October 31st. The stock was purchased at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the purchase, the director directly 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 through the SEC website. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of American Tower stock in a transaction dated 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 transaction, the insider owned 211,379 shares in the company, valued at approximately $14,743,685.25. This represents a 91.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is owned by corporate insiders.

Institutional Trading of American Tower

Institutional investors have recently modified their holdings of the business. Abound Wealth Management increased its stake 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 buying an additional 81 shares during the period. Triumph Capital Management bought a new position in shares of American Tower during the 3rd quarter worth about $29,000. Legacy Investment Solutions LLC bought a new stake in shares of American Tower during the second quarter valued at approximately $31,000. Root Financial Partners LLC bought a new stake in shares of American Tower during the third quarter worth about $32,000. Finally, Physician Wealth Advisors Inc. increased its holdings in American Tower by 85.9% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 171 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 79 shares in the last quarter. 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.