American Tower (NYSE:AMT) PT Raised to $262.00

American Tower (NYSE:AMT) had its price target boosted by Morgan Stanley from $248.00 to $262.00 in a research report issued on Monday, Analyst Ratings Network reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s price objective would indicate a potential upside of 3.69% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Cowen reduced their price objective on American Tower from $334.00 to $324.00 and set an “outperform” rating on the stock in a research note on Friday, February 26th. Raymond James reduced their price objective on American Tower from $258.00 to $244.00 and set an “outperform” rating on the stock in a research note on Thursday, March 4th. Zacks Investment Research lowered American Tower from a “buy” rating to a “hold” rating and set a $227.00 target price on the stock. in a research report on Tuesday, March 2nd. Royal Bank of Canada dropped their target price on American Tower from $275.00 to $250.00 and set an “outperform” rating on the stock in a research report on Monday, March 15th. Finally, Jefferies Financial Group began coverage on American Tower in a research report on Monday. They set a “buy” rating and a $278.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. American Tower currently has a consensus rating of “Buy” and an average price target of $272.67.

Shares of American Tower stock opened at $252.67 on Monday. American Tower has a twelve month low of $197.50 and a twelve month high of $272.20. The stock has a market capitalization of $112.28 billion, a P/E ratio of 59.73, a PEG ratio of 1.57 and a beta of 0.25. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 5.73. The business’s fifty day moving average price is $228.25 and its 200 day moving average price is $229.04.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Wednesday, February 24th. The real estate investment trust reported $0.82 EPS for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.45). The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.07 billion. American Tower had a return on equity of 42.42% and a net margin of 24.08%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.95 EPS. As a group, sell-side analysts predict that American Tower will post 8.16 EPS for the current year.

In other news, EVP Olivier Puech sold 3,268 shares of the company’s stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $220.00, for a total transaction of $718,960.00. Following the completion of the transaction, the executive vice president now directly owns 19,531 shares of the company’s stock, valued at $4,296,820. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.65% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Motco boosted its position in shares of American Tower by 3.4% during the fourth quarter. Motco now owns 1,371 shares of the real estate investment trust’s stock worth $308,000 after buying an additional 45 shares during the period. People s United Financial Inc. boosted its position in shares of American Tower by 2.8% during the fourth quarter. People s United Financial Inc. now owns 1,700 shares of the real estate investment trust’s stock worth $382,000 after buying an additional 46 shares during the period. Glenview Trust Co boosted its position in shares of American Tower by 3.7% during the fourth quarter. Glenview Trust Co now owns 1,312 shares of the real estate investment trust’s stock worth $295,000 after buying an additional 47 shares during the period. Halbert Hargrove Global Advisors LLC boosted its position in shares of American Tower by 4.7% during the fourth quarter. Halbert Hargrove Global Advisors LLC now owns 1,081 shares of the real estate investment trust’s stock worth $243,000 after buying an additional 49 shares during the period. Finally, Reilly Financial Advisors LLC boosted its position in shares of American Tower by 4.1% during the fourth quarter. Reilly Financial Advisors LLC now owns 1,268 shares of the real estate investment trust’s stock worth $285,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 89.97% 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 181,000 communications sites.

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Analyst Recommendations for American Tower (NYSE:AMT)

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