Citigroup Has Lowered Expectations for American Tower (NYSE:AMT) Stock Price

Key Points

• Citigroup lowered American Tower’s price target from $225 to $220 but maintained a “buy” rating, implying roughly 19.9% upside from the stock’s $183.46 price. Analysts overall remain bullish, with a “Moderate Buy” consensus and average target of $214.67.
• American Tower’s latest results met expectations on EPS at $1.64 and exceeded revenue estimates with $2.79 billion, up 2.5% year over year. However, the stock slipped 0.2% amid relatively modest top-line growth.
• The board authorized a $2 billion share-repurchase program, while strong data-center demand and raised growth guidance provide additional potential catalysts for the communications-infrastructure REIT.

American Tower (NYSE:AMT - Get Free Report) had its price objective lowered by analysts at Citigroup from $225.00 to $220.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the real estate investment trust's stock. Citigroup's price objective would indicate a potential upside of 19.92% from the stock's current price.

Several other analysts also recently issued reports on AMT. TD Cowen increased their price objective on shares of American Tower from $225.00 to $227.00 and gave the company a "buy" rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. reduced their target price on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Wednesday. The Goldman Sachs Group restated a "buy" rating on shares of American Tower in a research note on Tuesday. Wolfe Research raised shares of American Tower from a "peer perform" rating to an "outperform" rating and set a $188.00 price target for the company in a report on Wednesday, July 8th. Finally, Sanford C. Bernstein dropped their price target on shares of American Tower from $214.00 to $212.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 20th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $214.67.

American Tower Trading Down 0.2%

Shares of NYSE AMT traded down $0.37 during trading on Wednesday, hitting $183.46. 3,898,128 shares of the company traded hands, compared to its average volume of 3,113,093. American Tower has a 1 year low of $160.06 and a 1 year high of $202.50. The company has a 50-day moving average price of $175.17 and a 200-day moving average price of $177.12. The firm has a market capitalization of $85.48 billion, a P/E ratio of 25.23, a P/E/G ratio of 3.03 and a beta of 0.88. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 3.12.

American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, October 27th. The real estate investment trust reported $1.64 earnings per share for the quarter, hitting the consensus estimate of $1.64. American Tower had a return on equity of 32.76% and a net margin of 31.08%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period last year, the company posted $2.78 EPS. The business's quarterly revenue was up 2.5% on a year-over-year basis. On average, equities analysts predict that American Tower will post 10.80 EPS for the current year.

American Tower announced that its Board of Directors has approved a stock repurchase plan on Tuesday, October 27th that permits the company to buy back $2 billion in outstanding shares. This repurchase authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at American Tower

In other American Tower news, Director Rajesh Kalathur purchased 2,829 shares of the stock in a transaction dated Friday, August 21st. The shares were bought at an average cost of $177.00 per share, with a total value of $500,733.00. Following the completion of the acquisition, the director owned 7,765 shares of the company's stock, valued at approximately $1,374,405. This trade represents a 57.31% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.08% of the company's stock.

Hedge Funds Weigh In On American Tower

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in American Tower during the second quarter valued at about $7,490,943,000. Deutsche Bank AG acquired a new position in shares of American Tower in the 2nd quarter valued at about $1,096,186,000. Bank of America Corp DE purchased a new stake in shares of American Tower in the second quarter worth approximately $638,829,000. Bank of New York Mellon Corp purchased a new stake in shares of American Tower in the second quarter worth approximately $500,016,000. Finally, Ontario Teachers Pension Plan Board acquired a new stake in shares of American Tower during the second quarter worth approximately $291,867,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Key Stories Impacting American Tower

Here are the key news stories impacting American Tower this week:

• Positive Sentiment: 2026 guidance was raised for the third time. Management increased its full-year property revenue and adjusted funds from operations outlook, reinforcing the view that operating momentum remains intact. American Tower Raises Its 2026 Outlook For Third Time
• Positive Sentiment: Data-center growth was a key bright spot. CoreSite revenue increased 16.3%, supported by strong AI and cloud leasing activity, while American Tower raised its 2026 data-center revenue growth outlook to 16%. The company is also targeting 200–300 basis points of tower-margin expansion by 2030. American Tower raises 2026 data center revenue growth outlook
• Positive Sentiment: Cash-flow profitability exceeded expectations. Third-quarter FFO was $2.87 per share, above the $2.84 consensus and up from $2.78 a year earlier. The board also authorized a $2 billion share-repurchase program, which could support per-share results and signal that management views the stock as undervalued. American Tower Surpasses Q3 FFO and Revenue Estimates
• Neutral Sentiment: Reported EPS of $1.64 matched estimates, while revenue of $2.79 billion exceeded the $2.76 billion consensus and rose 2.5% year over year. The results were positive, but the relatively modest top-line growth may have limited enthusiasm. AMT Q3 AFFO and Revenues Rise
• Negative Sentiment: The stock declined after the report and underperformed some real-estate peers, indicating that investors may have expected an even stronger guidance increase or more acceleration in the core tower business. American Tower Stock Price Dips as Q3 Results Lift Guidance

About American Tower

American Tower Corporation NYSE: AMT is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its portfolio primarily includes communications towers, rooftop sites, distributed antenna systems and other infrastructure used by wireless carriers, broadcasters, governments and businesses to support voice, data and video communications.

The company leases space on its sites to multiple customers, allowing them to install antennas and related equipment without building and maintaining individual tower locations.

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