American Tower (NYSE:AMT) Sets New 12-Month Low - Here's Why

Key Points

• American Tower stock hit a new 52-week low on Tuesday, trading as low as $164.01 before closing at $164.8750, down from the previous close of $168.67.
• Despite the weak share price, analysts remain generally positive: the stock has a Moderate Buy consensus rating and an average price target of $216.95, with several firms maintaining or raising bullish targets.
• The company reported strong quarterly earnings, beating estimates with $2.84 EPS on $2.74 billion in revenue, and also announced a quarterly dividend of $1.79 per share, equal to a 4.3% annualized yield.

American Tower Corporation (NYSE:AMT - Get Free Report)'s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $164.01 and last traded at $164.8750, with a volume of 421485 shares trading hands. The stock had previously closed at $168.67.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of recent analyst reports. Truist Financial increased their price objective on American Tower from $205.00 to $208.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Weiss Ratings raised American Tower from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, May 11th. Barclays decreased their price objective 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 reiterated a "strong-buy" rating and set a $240.00 target price on shares of American Tower in a research report on Wednesday, April 29th. Finally, Citizens Jmp reissued a "market outperform" rating and issued a $260.00 price target 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 issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, American Tower has an average rating of "Moderate Buy" and a consensus price target of $216.95.

American Tower Price Performance

The firm has a 50-day moving average price of $181.01 and a 200 day moving average price of $179.73. The stock has a market capitalization of $76.99 billion, a P/E ratio of 26.65, a price-to-earnings-growth ratio of 0.73 and a beta of 0.90. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43.

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

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be given a dividend of $1.79 per share. This represents a $7.16 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Friday, June 12th. American Tower's payout ratio is presently 115.67%.

Insider Activity at American Tower

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Ballast Advisors LLC purchased a new position in American Tower during the first quarter valued at $119,000. Sapient Capital LLC increased its stake in shares of American Tower by 12.0% in the 1st quarter. Sapient Capital LLC now owns 2,704 shares of the real estate investment trust's stock worth $467,000 after acquiring an additional 290 shares in the last quarter. Western Wealth Management LLC lifted its position in American Tower by 75.2% during the 1st quarter. Western Wealth Management LLC now owns 7,342 shares of the real estate investment trust's stock valued at $1,267,000 after acquiring an additional 3,152 shares during the period. Dakota Community Bank & Trust NA boosted its stake in American Tower by 55.4% during the first quarter. Dakota Community Bank & Trust NA now owns 230 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 82 shares in the last quarter. Finally, FAS Wealth Partners Inc. grew its holdings in American Tower by 23.7% in the first quarter. FAS Wealth Partners Inc. now owns 1,781 shares of the real estate investment trust's stock worth $307,000 after purchasing an additional 341 shares during the period. Institutional investors own 92.69% of the company's stock.

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.

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