Mizuho Cuts American Tower (NYSE:AMT) Price Target to $189.00

American Tower (NYSE:AMT) had its price target decreased by Mizuho from $217.00 to $189.00 in a research report report published on Monday, Marketbeat.com reports. Mizuho currently has a neutral rating on the real estate investment trust’s stock.

Other research analysts also recently issued research reports about the stock. The Goldman Sachs Group lowered their price objective on shares of American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Barclays reissued an “equal weight” rating and set a $200.00 target price (down from $203.00) on shares of American Tower in a research report on Monday, December 1st. HSBC dropped their price target on shares of American Tower from $235.00 to $205.00 in a research report on Wednesday, October 29th. Wells Fargo & Company decreased their price objective on American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Finally, Citigroup reissued a “market outperform” rating on shares of American Tower in a research note on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $221.58.

American Tower Stock Up 1.9%

Shares of NYSE:AMT opened at $177.19 on Monday. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.89 and a current ratio of 0.89. American Tower has a 52-week low of $166.88 and a 52-week high of $234.33. The business’s 50 day simple moving average is $177.66 and its two-hundred day simple moving average is $193.80. The firm has a market cap of $82.95 billion, a P/E ratio of 28.31, a PEG ratio of 0.70 and a beta of 0.92.

American Tower (NYSE:AMT) last issued 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 return on equity of 28.79% and a net margin of 28.11%.The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same period in the prior year, the firm earned $2.52 earnings per share. American Tower’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. As a group, research analysts forecast that American Tower will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, December 29th will be 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 is Monday, December 29th. American Tower’s payout ratio is presently 108.63%.

Insider Buying and Selling

In related news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the business’s 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eugene F. Reilly acquired 5,554 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were 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 $1,018,274.11. The trade was a 4,114.07% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On American Tower

Institutional investors and hedge funds have recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in American Tower by 113.0% during 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. Acadian Asset Management LLC increased its holdings in shares of American Tower by 673.8% in the first quarter. Acadian Asset Management LLC now owns 5,107 shares of the real estate investment trust’s stock worth $1,111,000 after purchasing an additional 4,447 shares during the period. Jones Financial Companies Lllp raised its position in shares of American Tower by 18.3% in the first quarter. Jones Financial Companies Lllp now owns 170,988 shares of the real estate investment trust’s stock worth $37,003,000 after buying an additional 26,507 shares in the last quarter. Wesbanco Bank Inc. raised its position in shares of American Tower by 473.6% in the second quarter. Wesbanco Bank Inc. now owns 16,611 shares of the real estate investment trust’s stock worth $3,671,000 after buying an additional 13,715 shares in the last quarter. Finally, Capital Asset Advisory Services LLC grew its position in American Tower by 42.4% during the second quarter. Capital Asset Advisory Services LLC now owns 1,920 shares of the real estate investment trust’s stock worth $431,000 after buying an additional 572 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

About American Tower

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.