American Tower (NYSE:AMT) Price Target Raised to $220.00

American Tower (NYSE:AMT) had its price target lifted by investment analysts at BMO Capital Markets from $210.00 to $220.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. BMO Capital Markets’ price target indicates a potential upside of 8.50% from the stock’s current price.

Several other research analysts have also recently weighed in on AMT. The Goldman Sachs Group lowered their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Wells Fargo & Company reduced their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Mizuho lowered their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Citizens Jmp raised American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Barclays decreased their price target on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $225.21.

American Tower Price Performance

AMT stock traded down $0.98 during mid-day trading on Wednesday, reaching $202.77. The company’s stock had a trading volume of 231,143 shares, compared to its average volume of 2,211,796. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The company’s 50 day moving average is $185.84 and its two-hundred day moving average is $207.01. American Tower has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The stock has a market cap of $94.75 billion, a PE ratio of 85.56, a P/E/G ratio of 1.29 and a beta of 0.84.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating the consensus estimate of $1.79 by $0.83. The firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.29 earnings per share. Equities research analysts expect that American Tower will post 10.14 EPS for the current year.

Insider Activity

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On American Tower

Several large investors have recently bought and sold shares of the business. Fortitude Family Office LLC increased its holdings in shares of American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 78 shares during the last quarter. Minot DeBlois Advisors LLC purchased a new position in American Tower in the fourth quarter valued at approximately $29,000. Hara Capital LLC acquired a new stake in American Tower during the third quarter worth approximately $31,000. Roxbury Financial LLC purchased a new stake in shares of American Tower during the 4th quarter worth approximately $32,000. Finally, Graney & King LLC acquired a new position in shares of American Tower in the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 92.69% 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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.