American Tower (NYSE:AMT) Given New $204.00 Price Target at Mizuho

American Tower (NYSE:AMT) had its price target cut by Mizuho from $221.00 to $204.00 in a research note published on Wednesday,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

Several other research analysts have also recently weighed in on AMT. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. JPMorgan Chase & Co. boosted their price target on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. The Goldman Sachs Group lowered their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, Barclays decreased their price target on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $233.67.

American Tower Trading Up 1.1 %

American Tower stock opened at $179.15 on Wednesday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a 50-day simple moving average of $196.42 and a 200 day simple moving average of $212.04. The stock has a market capitalization of $83.71 billion, a P/E ratio of 75.59, a PEG ratio of 1.31 and a beta of 0.84. American Tower has a 52 week low of $170.46 and a 52 week high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter last year, the company posted $2.58 EPS. The firm’s revenue was down 10.5% on a year-over-year basis. Analysts expect that American Tower will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.62%. American Tower’s dividend payout ratio is currently 273.42%.

Hedge Funds Weigh In On American Tower

Several hedge funds and other institutional investors have recently modified their holdings of the business. Fortitude Family Office LLC grew its holdings in shares of American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. Fairscale Capital LLC acquired a new position in shares of American Tower in the 2nd quarter worth approximately $27,000. Northwest Investment Counselors LLC bought a new stake in American Tower during the third quarter valued at $30,000. Hara Capital LLC bought a new stake in shares of American Tower during the 3rd quarter valued at about $31,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of American Tower during the 3rd quarter worth approximately $34,000. Institutional investors own 92.69% of the company’s stock.

American Tower 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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.