Morgan Stanley Lowers American Tower (NYSE:AMT) Price Target to $235.00

Key Points

• Morgan Stanley has lowered its price target for American Tower (NYSE:AMT) from $270.00 to $235.00, indicating a potential upside of 22.66% from the company's previous close.
• Despite the price target decrease, several firms have maintained a positive outlook on American Tower, with Goldman Sachs reaffirming a "buy" rating and others adjusting their targets slightly downwards.
• American Tower reported $2.60 earnings per share for the last quarter, which slightly exceeded analysts' expectations, although revenue fell 9.4% year-over-year.

American Tower (NYSE:AMT - Get Free Report) had its price target decreased by equities research analysts at Morgan Stanley from $270.00 to $235.00 in a research report issued on Thursday,MarketScreener reports. Morgan Stanley's price objective suggests a potential upside of 22.66% from the company's previous close.

Several other research firms also recently commented on AMT. The Goldman Sachs Group reaffirmed a "buy" rating on shares of American Tower in a research note on Tuesday, July 29th. BMO Capital Markets reaffirmed an "outperform" rating and set a $245.00 price objective (down from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. Wells Fargo & Company dropped their target price on American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Citigroup dropped their target price on American Tower from $250.00 to $225.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Jefferies Financial Group dropped their target price on American Tower from $281.00 to $226.00 and set a "buy" rating on the stock in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $239.50.

American Tower Trading Up 0.8%

AMT opened at $191.58 on Thursday. American Tower has a 52 week low of $172.51 and a 52 week high of $234.33. The business has a fifty day simple moving average of $197.30 and a 200-day simple moving average of $210.26. The firm has a market cap of $89.71 billion, a P/E ratio of 69.42, a P/E/G ratio of 1.13 and a beta of 0.86. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results 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. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.American Tower's revenue was down 9.4% compared to the same quarter last year. During the same period last year, the business posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, equities analysts expect that American Tower will post 10.14 earnings per share for the current year.

Insider Transactions at American Tower

In other American Tower 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 sale, the chief executive officer owned 23,425 shares of the company's stock, valued at $4,880,130.25. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AMT. Vanguard Group Inc. grew its stake in shares of American Tower by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 63,028,367 shares of the real estate investment trust's stock valued at $13,930,530,000 after purchasing an additional 218,881 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of American Tower by 24.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust's stock valued at $2,799,458,000 after purchasing an additional 2,474,328 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of American Tower by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust's stock valued at $1,772,144,000 after purchasing an additional 2,309,627 shares during the last quarter. Deutsche Bank AG grew its stake in shares of American Tower by 4.0% in the 1st quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust's stock valued at $1,606,621,000 after purchasing an additional 285,195 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of American Tower by 11.9% in the second quarter. Invesco Ltd. now owns 6,680,524 shares of the real estate investment trust's stock valued at $1,476,529,000 after buying an additional 708,808 shares in the last quarter. 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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