American Tower (NYSE:AMT) Given New $220.00 Price Target at BMO Capital Markets

Key Points

• BMO Capital Markets has lowered its price target for American Tower from $245.00 to $220.00, still maintaining an "outperform" rating, indicating a potential upside of 14.66% from the current stock price.
• Several analysts have mixed views on the stock, with Raymond James setting a price target of $250.00, while others like Morgan Stanley and Jefferies have lowered their targets, reflecting a range of investment ratings from Strong Buy to Hold.
• American Tower reported a quarterly EPS of $2.60, slightly above expectations, but its revenue was down 9.4% compared to the same quarter last year, with forecasted future earnings guidance set for FY 2025 between 10.460-10.650 EPS.

American Tower (NYSE:AMT - Get Free Report) had its price target dropped by equities researchers at BMO Capital Markets from $245.00 to $220.00 in a research note issued on Friday,MarketScreener reports. The brokerage presently has an "outperform" rating on the real estate investment trust's stock. BMO Capital Markets' price objective points to a potential upside of 14.66% from the company's current price.

Several other equities research analysts also recently weighed in on the company. Raymond James Financial set a $250.00 price target on American Tower and gave the stock a "strong-buy" rating in a report on Wednesday, July 30th. Morgan Stanley decreased their target price on American Tower from $270.00 to $235.00 and set an "overweight" rating for the company in a research report on Thursday. Hsbc Global Res downgraded shares of American Tower from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. UBS Group lifted their price target on shares of American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, Jefferies Financial Group reduced their price objective on American Tower from $281.00 to $226.00 and set a "buy" rating on the stock in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $238.00.

American Tower Stock Performance

Shares of NYSE AMT opened at $191.87 on Friday. The company has a market cap of $89.84 billion, a P/E ratio of 69.86, a P/E/G ratio of 1.15 and a beta of 0.86. The firm's fifty day moving average is $196.93 and its two-hundred day moving average is $210.08. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. American Tower has a 52-week low of $172.51 and a 52-week high of $234.33.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period in the previous year, the firm earned $2.79 earnings per share. American Tower's quarterly revenue was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, analysts anticipate that American Tower will post 10.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other American Tower news, CEO Juan Font sold 720 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the transaction, the chief executive officer owned 23,425 shares in the company, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company's stock.

Institutional Investors Weigh In On American Tower

Institutional investors and hedge funds have recently modified their holdings of the company. Focus Financial Network Inc. grew its position in 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 purchasing an additional 170 shares during the period. Resolution Capital Ltd purchased a new stake in American Tower during the first quarter worth $72,706,000. Stack Financial Management Inc purchased a new position in American Tower in the second quarter valued at $13,020,000. Golden State Wealth Management LLC raised its position in shares of American Tower by 23.0% in the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock worth $80,000 after acquiring an additional 69 shares during the period. Finally, Shum Financial Group Inc. boosted its stake in shares of American Tower by 3.5% during the 1st quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock worth $913,000 after acquiring an additional 141 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

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.

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