American Tower (NYSE:AMT – Get Free Report) had its price target lowered by equities researchers at BMO Capital Markets from $235.00 to $228.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. BMO Capital Markets’ price target would suggest a potential upside of 21.06% from the stock’s previous close.
A number of other analysts have also weighed in on AMT. Barclays reduced their price objective on shares of American Tower from $229.00 to $224.00 and set an “overweight” rating for the company in a research note on Wednesday, January 24th. JPMorgan Chase & Co. dropped their price target on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Monday, February 19th. Finally, HSBC assumed coverage on shares of American Tower in a report on Thursday, December 14th. They set a “buy” rating and a $245.00 price target on the stock. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $219.00.
American Tower Stock Up 0.9 %
Shares of American Tower stock traded up $1.65 during trading on Wednesday, hitting $188.33. The company’s stock had a trading volume of 673,531 shares, compared to its average volume of 2,231,042. The company has a debt-to-equity ratio of 3.15, a quick ratio of 0.73 and a current ratio of 0.73. The company has a fifty day simple moving average of $201.85 and a two-hundred day simple moving average of $189.20. The company has a market capitalization of $87.79 billion, a PE ratio of 123.37, a P/E/G ratio of 1.49 and a beta of 0.68. American Tower has a 52 week low of $154.58 and a 52 week high of $219.10.
American Tower (NYSE:AMT – Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($1.16). The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.74 billion. American Tower had a return on equity of 5.97% and a net margin of 6.46%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.34 earnings per share. Equities research analysts predict that American Tower will post 9.38 earnings per share for the current year.
Institutional Investors Weigh In On American Tower
Several institutional investors and hedge funds have recently modified their holdings of the stock. Syon Capital LLC raised its position in shares of American Tower by 20.1% during the fourth quarter. Syon Capital LLC now owns 2,065 shares of the real estate investment trust’s stock valued at $446,000 after buying an additional 345 shares during the last quarter. Integrated Advisors Network LLC increased its position in American Tower by 0.9% in the fourth quarter. Integrated Advisors Network LLC now owns 25,368 shares of the real estate investment trust’s stock worth $5,476,000 after purchasing an additional 216 shares during the last quarter. Scarborough Advisors LLC bought a new stake in American Tower in the fourth quarter worth $550,000. Napa Wealth Management bought a new stake in American Tower in the fourth quarter worth $297,000. Finally, Garde Capital Inc. bought a new stake in American Tower in the fourth quarter worth $159,000. Institutional investors own 89.29% of the company’s stock.
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 nearly 225,000 communications sites and a highly interconnected footprint of U.S. data center facilities.