American Tower (NYSE:AMT) Sets New 1-Year Low – Here’s What Happened

American Tower Corporation (NYSE:AMT) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $170.73 and last traded at $170.97, with a volume of 982204 shares traded. The stock had previously closed at $175.82.

Analyst Ratings Changes

A number of brokerages have commented on AMT. UBS Group restated a “buy” rating on shares of American Tower in a research note on Wednesday, December 10th. BMO Capital Markets lowered their target price on shares of American Tower from $215.00 to $210.00 and set an “outperform” rating on the stock in a report on Wednesday, December 3rd. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $220.00 price target on shares of American Tower in a research report on Friday, December 19th. TD Cowen decreased their price objective on American Tower from $249.00 to $235.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Finally, Citigroup reissued a “market outperform” rating on shares of American Tower in a research note on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.42.

American Tower Stock Down 3.1%

The company has a market capitalization of $79.79 billion, a PE ratio of 27.23, a P/E/G ratio of 0.67 and a beta of 0.92. The stock’s fifty day moving average is $178.54 and its two-hundred day moving average is $195.66. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.24.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, topping the consensus estimate of $2.64 by $0.14. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, December 29th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, December 29th. American Tower’s payout ratio is 108.63%.

Insider Buying and Selling at American Tower

In other American Tower news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the completion of the transaction, the insider directly owned 211,379 shares of the company’s stock, valued at approximately $14,743,685.25. This represents a 91.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eugene F. Reilly bought 5,554 shares of the stock in a transaction on Friday, October 31st. The stock was purchased at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the purchase, the director owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On American Tower

Several institutional investors have recently added to or reduced their stakes in AMT. Focus Financial Network Inc. grew its position in shares of American Tower by 9.1% during the 2nd quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock valued at $451,000 after acquiring an additional 170 shares during the period. Stack Financial Management Inc bought a new position in American Tower in the 2nd quarter worth $13,020,000. Los Angeles Capital Management LLC lifted its position in American Tower by 52.5% during the second quarter. Los Angeles Capital Management LLC now owns 321,661 shares of the real estate investment trust’s stock valued at $71,094,000 after purchasing an additional 110,671 shares in the last quarter. First Trust Advisors LP grew its holdings in American Tower by 47.3% during the second quarter. First Trust Advisors LP now owns 109,124 shares of the real estate investment trust’s stock valued at $24,119,000 after purchasing an additional 35,037 shares during the period. Finally, Nordea Investment Management AB grew its holdings in American Tower by 1.0% during the second quarter. Nordea Investment Management AB now owns 1,532,818 shares of the real estate investment trust’s stock valued at $334,430,000 after purchasing an additional 15,920 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

About American Tower

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.