Jefferies Financial Group Cuts American Tower (NYSE:AMT) Price Target to $226.00

Key Points

• Jefferies Financial Group has lowered its price target for American Tower from $281.00 to $226.00, while maintaining a "buy" rating, signaling a potential upside of 21.98% from its recent close.
• Wells Fargo also reduced its target price to $230.00, while Barclays increased its target to $250.00, indicating varied analyst perspectives on the company's stock performance.
• American Tower reported a 9.4% decrease in quarterly revenue compared to the previous year, with earnings per share beating analysts' expectations at $2.60.

American Tower (NYSE:AMT - Get Free Report) had its price objective lowered by research analysts at Jefferies Financial Group from $281.00 to $226.00 in a note issued to investors on Monday,MarketScreener reports. The firm currently has a "buy" rating on the real estate investment trust's stock. Jefferies Financial Group's target price would suggest a potential upside of 21.98% from the stock's previous close.

Other analysts also recently issued reports about the stock. Wells Fargo & Company 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, July 30th. Barclays raised their target price on shares of American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Weiss Ratings reissued a "hold (c-)" rating on shares of American Tower in a research report on Wednesday, October 8th. BMO Capital Markets reaffirmed an "outperform" rating and set a $245.00 price objective (down previously from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Finally, Royal Bank Of Canada set a $220.00 target price on American Tower and gave the stock a "sector perform" rating in a research note on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, American Tower presently has a consensus rating of "Moderate Buy" and an average price target of $241.06.

American Tower Stock Performance

Shares of AMT stock opened at $185.27 on Monday. The company has a market capitalization of $86.75 billion, a P/E ratio of 67.12, a PEG ratio of 1.13 and a beta of 0.86. The stock has a 50 day moving average price of $198.75 and a two-hundred day moving average price of $210.80. 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 issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the firm earned $2.79 EPS. The company's quarterly revenue was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Analysts expect that American Tower will post 10.14 earnings per share for the current year.

Insider Buying and Selling at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.17% of the company's stock.

Institutional Trading of American Tower

Hedge funds and other institutional investors have recently made changes to their positions in the business. North Capital Inc. purchased a new position in shares of American Tower in the 1st quarter valued at approximately $25,000. Hopwood Financial Services Inc. raised its stake in American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 60 shares during the last quarter. Abound Wealth Management lifted its position in American Tower by 137.3% during the 3rd quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 81 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new stake in American Tower during the 1st quarter valued at about $31,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of American Tower in the second quarter valued at about $31,000. Hedge funds and other institutional investors 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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