American Tower (AMT) PT Set at $172.00 by Bank of America

American Tower (NYSE:AMT) has been given a $172.00 target price by stock analysts at Bank of America in a report released on Wednesday. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Bank of America’s price objective indicates a potential upside of 10.00% from the company’s previous close.

Several other equities research analysts also recently issued reports on AMT. Zacks Investment Research raised American Tower from a “sell” rating to a “hold” rating in a report on Thursday, October 18th. Citigroup downgraded American Tower from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $161.00 to $176.00 in a report on Wednesday. KeyCorp lifted their target price on American Tower from $165.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday. Cowen reissued a “buy” rating and set a $161.00 target price on shares of American Tower in a report on Wednesday, August 1st. Finally, Deutsche Bank lifted their target price on American Tower from $155.00 to $169.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. American Tower currently has a consensus rating of “Buy” and an average price target of $163.73.

American Tower stock traded down $4.58 during mid-day trading on Wednesday, hitting $156.37. 1,105,418 shares of the company’s stock traded hands, compared to its average volume of 2,030,923. American Tower has a fifty-two week low of $130.37 and a fifty-two week high of $161.71. The company has a market capitalization of $65.95 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 1.59 and a beta of 0.80. The company has a debt-to-equity ratio of 2.99, a current ratio of 0.66 and a quick ratio of 0.66.



American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.02. American Tower had a return on equity of 16.72% and a net margin of 16.34%. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the firm posted $1.73 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities analysts anticipate that American Tower will post 7.11 earnings per share for the current fiscal year.

In related news, Director David E. Sharbutt sold 1,321 shares of the firm’s stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $150.48, for a total value of $198,784.08. Following the transaction, the director now owns 4,781 shares in the company, valued at $719,444.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Edmund Disanto sold 13,000 shares of the firm’s stock in a transaction on Friday, September 7th. The stock was sold at an average price of $146.78, for a total value of $1,908,140.00. Following the completion of the transaction, the executive vice president now owns 160,021 shares in the company, valued at approximately $23,487,882.38. The disclosure for this sale can be found here. Insiders sold 80,281 shares of company stock worth $12,014,625 in the last 90 days. 0.87% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of AMT. Mount Yale Investment Advisors LLC boosted its stake in shares of American Tower by 354.4% during the second quarter. Mount Yale Investment Advisors LLC now owns 718 shares of the real estate investment trust’s stock valued at $104,000 after purchasing an additional 560 shares in the last quarter. Kaizen Advisory LLC boosted its stake in shares of American Tower by 140.6% during the second quarter. Kaizen Advisory LLC now owns 1,008 shares of the real estate investment trust’s stock valued at $145,000 after purchasing an additional 589 shares in the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of American Tower by 75.0% during the second quarter. Valeo Financial Advisors LLC now owns 1,029 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 441 shares in the last quarter. Sun Life Financial INC boosted its stake in shares of American Tower by 311.3% during the second quarter. Sun Life Financial INC now owns 1,197 shares of the real estate investment trust’s stock valued at $173,000 after purchasing an additional 906 shares in the last quarter. Finally, RMR Advisors LLC acquired a new stake in shares of American Tower during the second quarter valued at about $173,000. Institutional investors own 93.35% 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 approximately 170,000 communications sites.

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Analyst Recommendations for American Tower (NYSE:AMT)

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