Wall Street Zen Upgrades American Tower (NYSE:AMT) to Hold

Key Points

• American Tower was upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, reflecting a more favorable outlook from analysts.
• Despite reporting a quarterly revenue of $2.63 billion, American Tower's revenue decreased by 9.4% compared to the same quarter last year.
• American Tower has a market capitalization of $87.38 billion and a current price target consensus of $242.07, indicating moderate investor interest in the company's stock.

American Tower (NYSE:AMT - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Sunday.

AMT has been the subject of several other research reports. Barclays raised their price target on American Tower from $246.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. UBS Group raised their price target on American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. The Goldman Sachs Group reissued a "buy" rating on shares of American Tower in a report on Tuesday, July 29th. Weiss Ratings reissued a "hold (c-)" rating on shares of American Tower in a report on Wednesday. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $245.00 price target (down previously from $250.00) on shares of American Tower in a report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $242.07.

American Tower Price Performance

AMT opened at $186.60 on Friday. The business's 50-day moving average is $198.75 and its two-hundred day moving average is $210.82. American Tower has a 1 year low of $172.51 and a 1 year high of $234.33. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $87.38 billion, a PE ratio of 67.85, a price-to-earnings-growth ratio of 1.13 and a beta of 0.86.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.01. The company had revenue of $2.63 billion for 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%.The firm's quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Research analysts anticipate that American Tower will post 10.14 earnings per share for the current fiscal year.

Insider Activity at American Tower

In related news, CEO Juan Font sold 720 shares of American Tower stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction 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 $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

Institutional Investors Weigh In On American Tower

A number of institutional investors and hedge funds have recently modified their holdings of AMT. North Capital Inc. acquired a new position in American Tower in the first quarter valued at approximately $25,000. Hopwood Financial Services Inc. lifted its holdings in American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 60 shares during the period. Abound Wealth Management increased its position in shares of American Tower by 137.3% in the third quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust's stock valued at $27,000 after buying an additional 81 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of American Tower during the first quarter worth approximately $31,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of American Tower during the second quarter worth approximately $31,000. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.