American Tower (NYSE:AMT) PT Raised to $196.00

American Tower (NYSE:AMT) had its price target hoisted by stock analysts at Morgan Stanley from $183.00 to $196.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s price objective points to a potential upside of 10.62% from the company’s previous close.

Several other research firms have also issued reports on AMT. JPMorgan Chase & Co. reduced their target price on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. BMO Capital Markets reduced their target price on American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Barclays raised their price objective on American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Finally, Mizuho initiated coverage on American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $217.36.

American Tower Stock Down 1.1 %

NYSE AMT traded down $2.01 during trading on Monday, hitting $177.19. The stock had a trading volume of 661,843 shares, compared to its average volume of 2,370,554. American Tower has a 12 month low of $154.58 and a 12 month high of $219.10. The company has a market capitalization of $82.63 billion, a PE ratio of 55.75, a P/E/G ratio of 1.24 and a beta of 0.67. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69. The company’s 50-day moving average price is $193.88 and its two-hundred day moving average price is $193.57.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). American Tower had a net margin of 13.31% and a return on equity of 12.80%. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter last year, the company posted $2.34 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. As a group, sell-side analysts forecast that American Tower will post 10.05 EPS for the current year.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the transaction, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the transaction, the director now directly owns 18,545 shares in the company, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

Institutional Trading of American Tower

A number of hedge funds have recently bought and sold shares of the business. Northwest Investment Counselors LLC bought a new stake in shares of American Tower in the first quarter valued at $25,000. McClarren Financial Advisors Inc. bought a new stake in shares of American Tower in the third quarter valued at $27,000. Gold Investment Management Ltd. bought a new stake in shares of American Tower in the fourth quarter valued at $28,000. Emerald Advisers LLC bought a new stake in shares of American Tower in the third quarter valued at $29,000. Finally, Thompson Investment Management Inc. bought a new stake in shares of American Tower in the fourth quarter valued at $29,000. 92.69% of the stock is currently owned by institutional investors.

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.