American Tower Corporation (NYSE:AMT) Stock Now Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Analysts rate American Tower a “Moderate Buy”: Seventeen of 20 analysts recommend buying the stock, with a consensus 12-month price target of $215.48.
• Quarterly results exceeded expectations: American Tower reported adjusted earnings of $2.71 per share versus the $1.57 consensus estimate, while revenue rose 4.6% year over year to $2.75 billion.
• The company declared a quarterly dividend of $1.79 per share, equivalent to $7.16 annually and a 4.4% yield; institutional investors and hedge funds own 92.69% of the stock.

American Tower Corporation (NYSE:AMT - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the twenty analysts that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $215.48.

A number of analysts recently weighed in on AMT shares. Royal Bank Of Canada upgraded shares of American Tower from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $195.00 to $205.00 in a report on Friday, June 26th. Jefferies Financial Group cut their target price on American Tower from $210.00 to $201.00 and set a "buy" rating on the stock in a research report on Wednesday, July 15th. Scotiabank reaffirmed an "outperform" rating on shares of American Tower in a report on Wednesday, July 29th. The Goldman Sachs Group set a $210.00 price target on American Tower in a research note on Tuesday, July 28th. Finally, Weiss Ratings upgraded American Tower from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, July 14th.

Insider Activity

In other news, EVP Ruth Dowling sold 1,106 shares of American Tower stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the transaction, the executive vice president owned 27,711 shares in the company, valued at approximately $4,848,316.56. The trade was a 3.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rajesh Kalathur acquired 2,829 shares of American Tower stock in a transaction that occurred on Friday, August 21st. The stock was acquired at an average cost of $177.00 per share, with a total value of $500,733.00. Following the completion of the purchase, the director owned 7,765 shares in the company, valued at approximately $1,374,405. This represents a 57.31% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 6,791 shares of company stock worth $1,204,091 over the last quarter. Corporate insiders own 0.08% of the company's stock.

Hedge Funds Weigh In On American Tower

A number of hedge funds have recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton lifted its stake in American Tower by 28.1% in the third quarter. Rosenberg Matthew Hamilton now owns 803 shares of the real estate investment trust's stock valued at $131,000 after acquiring an additional 176 shares during the last quarter. Baker Tilly Wealth Management LLC boosted its holdings in American Tower by 29.9% in the third quarter. Baker Tilly Wealth Management LLC now owns 8,601 shares of the real estate investment trust's stock worth $1,408,000 after purchasing an additional 1,978 shares in the last quarter. Rockland Trust Co. bought a new position in American Tower during the third quarter valued at about $206,000. Boltwood Capital Management boosted its stake in shares of American Tower by 2.6% during the 3rd quarter. Boltwood Capital Management now owns 2,759 shares of the real estate investment trust's stock worth $452,000 after acquiring an additional 70 shares in the last quarter. Finally, Hickory Point Bank & Trust bought a new position in shares of American Tower in the 3rd quarter valued at approximately $49,000. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Stock Down 0.0%

American Tower stock opened at $162.18 on Tuesday. The company's 50-day moving average price is $173.02 and its two-hundred day moving average price is $175.22. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 3.12. The stock has a market cap of $75.57 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 2.60 and a beta of 0.88. American Tower has a 52 week low of $160.06 and a 52 week high of $196.08.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $1.14. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the firm posted $2.60 earnings per share. The firm's revenue for the quarter was up 4.6% compared to the same quarter last year. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, analysts expect that American Tower will post 10.8 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Wednesday, September 30th will be given a dividend of $1.79 per share. This represents a $7.16 annualized dividend and a yield of 4.4%. The ex-dividend date is Wednesday, September 30th. American Tower's payout ratio is presently 98.49%.

About American Tower

American Tower Corporation NYSE: AMT is a global real estate investment trust that owns, operates and develops communications infrastructure. Its portfolio includes wireless and broadcast towers, rooftop sites, distributed antenna systems and other facilities that support wireless communications, television and radio broadcasting, government communications and other connectivity services.

The company leases space on its communications sites to wireless carriers, broadcasters, government agencies and other customers.

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