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

Key Points

• Citigroup has decreased its price target for American Tower's stock from $250.00 to $225.00, while still maintaining a "buy" rating, suggesting an upside potential of 18.46% from its previous close.
• Other analysts have mixed views on American Tower, with HSBC Global Research downgrading it to "hold," while JPMorgan Chase & Co. recently raised their target price from $250.00 to $255.00, indicating a range of analyst ratings.
• American Tower reported earnings of $2.60 per share for the last quarter, slightly beating expectations, but showed a year-over-year revenue decline of 9.4%, highlighting concerns about its financial performance.

American Tower (NYSE:AMT - Get Free Report) had its price target decreased by analysts at Citigroup from $250.00 to $225.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the real estate investment trust's stock. Citigroup's price objective would suggest a potential upside of 18.46% from the stock's previous close.

Other analysts also recently issued reports about the company. Hsbc Global Res downgraded American Tower from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of American Tower in a report on Wednesday, October 8th. Raymond James Financial set a $250.00 target price on American Tower and gave the stock a "strong-buy" rating in a report on Wednesday, July 30th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of American Tower in a report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. upped their target price on American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, American Tower currently has a consensus rating of "Moderate Buy" and a consensus target price of $240.44.

American Tower Stock Performance

NYSE:AMT opened at $189.94 on Thursday. The stock has a fifty day moving average price of $197.30 and a 200-day moving average price of $210.26. The company has a market cap of $88.94 billion, a price-to-earnings ratio of 69.07, a PEG ratio of 1.13 and a beta of 0.86. 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 fifty-two week low of $172.51 and a fifty-two week high of $234.33.

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

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of the stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the sale, the chief executive officer owned 23,425 shares of the company's stock, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.17% of the company's stock.

Institutional Investors Weigh In On American Tower

Several large investors have recently added to or reduced their stakes in AMT. Brighton Jones LLC grew its stake in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock worth $727,000 after purchasing an additional 2,104 shares during the period. GAMMA Investing LLC grew its stake in American Tower by 9.0% during the first quarter. GAMMA Investing LLC now owns 7,821 shares of the real estate investment trust's stock worth $1,702,000 after purchasing an additional 648 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in American Tower by 0.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 276,533 shares of the real estate investment trust's stock valued at $60,174,000 after acquiring an additional 1,205 shares during the period. Grimes & Company Inc. acquired a new stake in American Tower in the first quarter valued at approximately $235,000. Finally, NBT Bank N A NY grew its stake in American Tower by 39.9% in the first quarter. NBT Bank N A NY now owns 2,050 shares of the real estate investment trust's stock valued at $446,000 after acquiring an additional 585 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

About American Tower

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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