Fintel reports that on May 1, 2024, Raymond James upgraded their outlook for American Tower (NYSE:AMT) from Outperform to Strong Buy.

Analyst Price Forecast Suggests 35.56% Upside

As of April 17, 2024, the average one-year price target for American Tower is 232.56. The forecasts range from a low of 197.96 to a high of $257.25. The average price target represents an increase of 35.56% from its latest reported closing price of 171.56.

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The projected annual revenue for American Tower is 11,756MM, an increase of 4.86%. The projected annual non-GAAP EPS is 5.33.

What is the Fund Sentiment?

There are 2,913 funds or institutions reporting positions in American Tower. This is an increase of 65 owner(s) or 2.28% in the last quarter. Average portfolio weight of all funds dedicated to AMT is 0.71%, an increase of 5.06%. Total shares owned by institutions increased in the last three months by 2.19% to 506,994K shares. The put/call ratio of AMT is 0.81, indicating a bullish outlook.

What are Other Shareholders Doing?

VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 18,827K shares representing 4.03% ownership of the company. In its prior filing, the firm reported owning 19,216K shares , representing a decrease of 2.06%. The firm decreased its portfolio allocation in AMT by 5.79% over the last quarter.

Cohen & Steers holds 16,441K shares representing 3.52% ownership of the company. In its prior filing, the firm reported owning 15,857K shares , representing an increase of 3.55%. The firm increased its portfolio allocation in AMT by 19.80% over the last quarter.

Wellington Management Group Llp holds 15,824K shares representing 3.39% ownership of the company. In its prior filing, the firm reported owning 12,984K shares , representing an increase of 17.95%. The firm increased its portfolio allocation in AMT by 48.89% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 14,638K shares representing 3.13% ownership of the company. In its prior filing, the firm reported owning 14,510K shares , representing an increase of 0.87%. The firm increased its portfolio allocation in AMT by 18.34% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 11,389K shares representing 2.44% ownership of the company. In its prior filing, the firm reported owning 11,201K shares , representing an increase of 1.64%. The firm increased its portfolio allocation in AMT by 17.89% over the last quarter.

American Tower Background Information
(This description is provided by the company.)

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 approximately 186,000 communications sites.