According to The Fly, research analysts at Trust Financial lowered their price target for American Tower (NYSE: AMT) in a research note that was issued on Friday. The new price target is $275.00, a reduction from $325.00. The fact that the target price for Trust Financial is higher than the price at which the stock is currently trading indicates that there is potential for an increase of 18.43%.
In recent years, numerous analysts from various firms have directed their research projects specifically toward the share price as the primary research topic. In research published on Tuesday, Goldman Sachs Group upgraded shares of American Tower from a “neutral” rating to a “buy” rating and raised their price target for the stock from $215.00 to $245.00. These changes reflect the firm’s belief that the stock will likely perform favorably shortly. In addition, they increased the price at which they anticipate the share will reach from $215.00 to $245.00. In a report made public on November 1, the Royal Bank of Canada rated American Tower as an “outperform” investment and decreased their target price on company shares from $265.00 to $240.00. The report was titled “American Tower.” The price target that KeyCorp has set for American Tower has decreased from $264.00 to $252.00 due to a research report published on Friday, October 28. In addition to that, the company gave the stock an “overweight” rating. The Street lowered their previous recommendation of “b” for shares of American Tower to a “c+” rating in a research report published on Thursday, October 13. On November 23, Raymond James raised their target price on American Tower shares from $219.00 to $233.00 and upgraded their rating of the company to “market outperform,” indicating that they believe the company will outperform its market. As a result of the rise, they also increased the price target they had set for American Tower shares. Twelve research analysts have suggested that investors purchase the stock, while only two research experts recommend that investors maintain their current stock holdings. According to Bloomberg.com, the stock is currently rated as a “Moderate Buy” by the consensus, and the price objective for the stock is currently rated as a consensus of $265.18. Furthermore, the consensus price target for the stock is currently $265.18.
When trading in AMT began on Friday, the asset price was $232.21. In addition to its current valuation of $108.12 billion, the share price is accompanied by the following ratios:
A price-to-earnings ratio of 36.86
A price-to-earnings-to-growth ratio of 2.02
A beta value of 0.54
American Tower has a debt-to-equity ratio of 2.87, a quick ratio of 0.75, and a current ratio of 0.75. These ratios are all the same. The price of American Tower reached a low of $178.17 over the previous year, while it reached a high of $282.47. The company’s simple moving average over the past 50 days is currently sitting at $215.50, and its simple moving average over the past 200 days is currently sitting at $232.61.
In other news about this topic, Director Joann A. Reed made a transaction involving the sale of 1,231 shares of the company’s stock on Friday, October 28. The transaction was completed. The sale of the stock generated a total of 252,207.28 dollars, which equates to a price of $204.88 for each share that was purchased. The director is now the direct owner of 54,554 shares in the company. Based on the current market price, these shares have a value of approximately 11,177,023.52 dollars. The sale was brought to the general public’s attention using a legal filing handed to the SEC. On the website of the SEC, you can locate this particular file. In other news about this topic, Director Joann A. Reed disposed of 1,231 American Tower stock on October 28. The transaction was completed. The sale of the stock generated a total of 252,207.28 dollars, which equates to a price of $204.88 for each share that was purchased. Following the completion of the transaction, the director will have a total of 54,554 shares of the company, which will have a value of approximately $11,177,023.52 at present. You will be taken to a legal file submitted to the SEC if you click on the link we have provided, where you will find additional information regarding the sale.
On top of that, Edmund Disanto, Executive Vice President of American Tower, sold 35,000 shares of the company’s stock on November 2. The sale of the shares resulted in total revenue of $7,252,000.00, with the average price that each share was able to fetch being $207.20. Due to the successful transaction completion, the executive vice president now owns 157,685 shares of the company, which have an approximate value of $32,672,332. Disclosures that are related to the sale might be found in this section of the website. Insiders of the company sold 38,266 shares for $7,953,637 over the previous ninety days. The company insiders’ current ownership of the company’s stock is 0.24%.
Hedge funds have been adjusting late to the distribution of stock holdings contained within their portfolios. During the third quarter, Romano Brothers and Company made a further investment of approximately 392,000 dollars to acquire additional shares of American Tower. Robeco Institutional Asset Management B.V. increased the amount of American Tower stock owned by 11.8% over the second quarter of the fiscal year. After purchasing 22,190 additional shares of the real estate investment trust during the most recent fiscal quarter, Robeco Institutional Asset Management B.V. now has a total of 210,465 shares of the real estate investment trust, which have a value of $53,795,000. These shares were acquired as part of the real estate investment trust. Brinker Capital Investments LLC successfully increased the percentage of American Tower owned by 7.4% during the second quarter of the fiscal year. Brinker Capital Investments LLC now has 15,509 real estate investment trust shares due to the purchase of an additional 1,075 shares during the most recent quarter. The value of the company’s 15,509 shares brings the company’s overall holdings to a total of $3,964,000. During the second quarter, Baillie Gifford & Co. increased the number of American Tower shares it owned by 16.0%, bringing the total number of shares it possessed to a total of 1.2 million. After making an additional investment of 492 shares in the real estate investment trust during the most recent quarter, Baillie Gifford & Co. now directly owns 3,564 shares in the REIT. The value of these shares is $911,000.
Last but not least, during the second quarter, Winston Group spent approximately $1,879,000 to acquire a new holding in American Tower. Institutional investors and hedge funds collectively hold 89.65% of the total number of shares in the company. These investors also hold voting rights.
The American Tower Corporation is a real estate investment trust (REIT), making it one of the largest of its kind in the world. The corporation is a significant independent owner, operator, and developer of multitenant communications real estate, and its portfolio includes approximately 219,000 communications sites. Suppose you are interested in learning more about American Tower. In that case, we ask that you navigate your web browser to the Earnings Materials and Investor Presentations sections of our investor relations website located at www.americantower.com.