Weiss Ratings Reaffirms "Hold (C-)" Rating for American Tower (NYSE:AMT)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C-)" rating for American Tower (NYSE: AMT), indicating a cautious outlook on the stock.
• American Tower's stock recently traded at $191.40, and its average target price among analysts is $236.75, reflecting a generally favorable rating with most analysts recommending a "Buy."
• Despite reporting earnings that exceeded estimates, American Tower experienced a 9.4% revenue decline year-over-year, with a fluctuating market cap reported at $89.62 billion.

American Tower (NYSE:AMT - Get Free Report)'s stock had its "hold (c-)" rating reissued by Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

Several other brokerages also recently issued reports on AMT. Raymond James Financial set a $250.00 target price on American Tower and gave the company a "strong-buy" rating in a research note on Wednesday, July 30th. Wall Street Zen raised American Tower from a "sell" rating to a "hold" rating in a report on Sunday, October 12th. Barclays upped their price target on shares of American Tower from $250.00 to $251.00 and gave the company an "overweight" rating in a research note on Friday, October 17th. BMO Capital Markets lowered their price target on shares of American Tower from $245.00 to $220.00 and set an "outperform" rating for the company in a report on Friday, October 17th. Finally, UBS Group increased their target price on shares of American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Two equities research 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 stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $236.75.

American Tower Stock Performance

Shares of AMT stock traded up $1.10 during trading hours on Friday, reaching $191.40. 1,093,876 shares of the company traded hands, compared to its average volume of 2,676,979. The firm has a 50-day moving average price of $195.60 and a 200 day moving average price of $209.11. The company has a market cap of $89.62 billion, a P/E ratio of 69.63, a P/E/G ratio of 1.16 and a beta of 0.86. American Tower has a 12-month low of $172.51 and a 12-month 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.

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

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the transaction, the chief executive officer directly owned 23,425 shares in the company, 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 SEC, which is available through the SEC website. 0.17% of the stock is currently owned by company insiders.

Institutional Trading of American Tower

A number of hedge funds have recently added to or reduced their stakes in AMT. Focus Financial Network Inc. boosted its position in American Tower by 9.1% during the second quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust's stock valued at $451,000 after purchasing an additional 170 shares in the last quarter. Resolution Capital Ltd acquired a new position in shares of American Tower in the 1st quarter valued at $72,706,000. Stack Financial Management Inc purchased a new stake in American Tower during the 2nd quarter valued at about $13,020,000. Golden State Wealth Management LLC lifted its holdings in shares of American Tower by 23.0% during the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock worth $80,000 after purchasing an additional 69 shares during the period. Finally, Kovitz Investment Group Partners LLC boosted its position in American Tower by 126.0% in the first quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust's stock valued at $21,215,000 after buying an additional 54,360 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

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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