American Tower (NYSE:AMT) Hits New 1-Year Low - Here's What Happened

Key Points

• American Tower shares hit a new 52-week low on Monday, trading as low as $161.15 and ending the session down 2.9% after closing at $166.03 previously.
• Despite the stock weakness, Wall Street sentiment remains fairly positive: the consensus rating is Moderate Buy with an average price target of $216.95, and several firms recently raised or reiterated bullish ratings.
• The company reported better-than-expected first-quarter earnings, with EPS of $2.84 and revenue of $2.74 billion, and it also declared a quarterly dividend of $1.79 per share, implying a 4.4% yield.

Shares of American Tower Corporation (NYSE:AMT - Get Free Report) hit a new 52-week low on Monday . The stock traded as low as $161.15 and last traded at $162.3510, with a volume of 509516 shares changing hands. The stock had previously closed at $166.03.

Analyst Ratings Changes

Several equities research analysts have commented on AMT shares. Royal Bank Of Canada upgraded American Tower from a "sector perform" rating to an "outperform" rating and upped their price objective for the stock from $195.00 to $205.00 in a research report on Friday, June 26th. Jefferies Financial Group boosted their target price on shares of American Tower from $209.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, April 14th. Barclays dropped their price target on shares of American Tower from $200.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 16th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $240.00 price objective on shares of American Tower in a report on Wednesday, April 29th. Finally, Citizens Jmp reissued a "market outperform" rating and set a $260.00 target price on shares of American Tower in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $216.95.

American Tower Trading Down 2.9%

The firm has a market capitalization of $75.11 billion, a price-to-earnings ratio of 25.99, a P/E/G ratio of 0.69 and a beta of 0.91. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. The company has a 50 day moving average price of $179.93 and a two-hundred day moving average price of $179.30.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $1.24. The firm had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.66 billion. American Tower had a net margin of 26.81% and a return on equity of 27.79%. The firm's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.75 EPS. American Tower has set its FY 2026 guidance at 10.900-11.07 EPS. On average, research analysts forecast that American Tower Corporation will post 10.66 EPS for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 12th will be given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Friday, June 12th. American Tower's dividend payout ratio is 115.67%.

Insider Buying and Selling

In other American Tower news, EVP Ruth T. Dowling sold 416 shares of the business's stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total transaction of $73,856.64. Following the completion of the sale, the executive vice president directly owned 29,461 shares in the company, valued at approximately $5,230,505.94. The trade was a 1.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.08% of the company's stock.

Institutional Investors Weigh In On American Tower

A number of large investors have recently modified their holdings of AMT. Riverwater Partners LLC raised its holdings in American Tower by 3.8% in the 4th quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust's stock valued at $270,000 after acquiring an additional 56 shares during the last quarter. Triumph Capital Management boosted its stake in American Tower by 37.3% during the fourth quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust's stock worth $36,000 after buying an additional 56 shares during the last quarter. Personal CFO Solutions LLC grew its holdings in American Tower by 3.5% in the 4th quarter. Personal CFO Solutions LLC now owns 1,667 shares of the real estate investment trust's stock valued at $293,000 after buying an additional 57 shares in the last quarter. Twin City Private Wealth LLC raised its holdings in shares of American Tower by 0.7% during the 4th quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust's stock worth $1,382,000 after acquiring an additional 58 shares during the period. Finally, Asset Advisory Group Inc. boosted its position in shares of American Tower by 3.0% during the 1st quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust's stock valued at $358,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other 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.

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