The price of American Tower Corp. (NYSE:AMT) shares last traded on Wall Street rose 1.65% to $199.11.
Based on available information, 22 analysts follow American Tower Corp. (NYSE:AMT). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $259.00 and a low of $169.00, we find $208.00. Given the previous closing price of $195.88, this indicates a potential upside of 6.19 percent. AMT stock price is now 15.64% away from the 50-day moving average and 5.16% away from the 200-day moving average. The market capitalization of the company currently stands at $92.82B.
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Among analysts, 3 rate the stock a hold while 15 rate it a buy. Brokers who have rated the stock have averaged $208.65 as their price target over the next twelve months.
With the price target of $208, Scotiabank recently initiated with Sector Outperform rating for American Tower Corp. (NYSE: AMT).
In other news, REED JOANN A, Director sold 4,856 shares of the company’s stock on Nov 09. The stock was sold for $891,416 at an average price of $183.57. Upon completion of the transaction, the Director now directly owns 60,795 shares in the company, valued at $12.1 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 16, Director HORMATS ROBERT D sold 150 shares of the business’s stock. A total of $24,958 was realized by selling the stock at an average price of $166.39. This leaves the insider owning 6,943 shares of the company worth $1.38 million. Insiders disposed of 92,021 shares of company stock worth roughly $18.32 million over the past 1 year. A total of 0.65% of the company’s stock is owned by insiders.
A candlestick chart of American Tower Corp. (NYSE: AMT) showed a price of $196.80 on Thursday morning. During the past 12 months, American Tower Corp. has had a low of $154.58 and a high of $235.57. According to the stock market information, the enterprise value for the company is $136.01B, which is based on a 130.50 price-to-earnings ratio, a 24.53 price-to-earnings-growth ratio, and a beta of 0.65. The fifty day moving average price for AMT is $172.51 and a two-hundred day moving average price translates $189.19 for the stock.
The latest earnings results from American Tower Corp. (NYSE: AMT) was released for Sep, 2023. According to the REIT – Specialty Company, earnings per share came in at $1.26, beating analysts’ expectations of $1.13 by 0.13. This compares to $1.80 EPS in the same period last year. The net profit margin was 6.46% and return on equity was 13.21% for AMT. The company reported revenue of $2.82 billion for the quarter, compared to $2.67 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 5.51 percent. For the current quarter, analysts expect AMT to generate $2.74B in revenue.
American Tower Corp.(AMT) 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 nearly 225,000 communications sites and a highly interconnected footprint of U.S. data center facilities.
