Morgan Stanley Raises American Tower (AMT) Price Target to $201.00

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American Tower (NYSE:AMT) had its price objective upped by analysts at Morgan Stanley from $185.00 to $201.00 in a report issued on Monday, BenzingaRatingsTable reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s price target would suggest a potential upside of 1.43% from the company’s previous close.

Several other equities analysts also recently commented on AMT. Oppenheimer restated a “market perform” rating and set a $173.00 target price on shares of American Tower in a research report on Thursday, February 28th. They noted that the move was a valuation call. Citigroup raised their target price on American Tower from $176.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Bank of America raised their target price on American Tower from $172.00 to $208.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Royal Bank of Canada raised their target price on American Tower from $173.00 to $195.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Finally, Wells Fargo & Co raised their target price on American Tower from $176.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, February 28th. Twelve analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $181.44.

Shares of NYSE:AMT opened at $198.17 on Monday. American Tower has a 1-year low of $134.87 and a 1-year high of $203.38. The company has a market cap of $89.48 billion, a PE ratio of 24.80, a PEG ratio of 1.65 and a beta of 0.66. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 4.31.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Friday, May 3rd. The real estate investment trust reported $1.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.04. American Tower had a return on equity of 22.61% and a net margin of 17.95%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the firm earned $0.63 EPS. American Tower’s revenue for the quarter was up 4.1% compared to the same quarter last year. Research analysts expect that American Tower will post 7.51 EPS for the current year.

In other news, Director Joann A. Reed sold 1,538 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $175.61, for a total transaction of $270,088.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James D. Taiclet, Jr. sold 11,863 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $195.88, for a total value of $2,323,724.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 215,986 shares of company stock valued at $41,954,910. Corporate insiders own 0.75% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in AMT. Vanguard Group Inc boosted its stake in shares of American Tower by 6.7% in the third quarter. Vanguard Group Inc now owns 56,635,438 shares of the real estate investment trust’s stock valued at $8,229,130,000 after purchasing an additional 3,579,249 shares during the period. Capital Investment Advisors LLC purchased a new position in shares of American Tower in the fourth quarter valued at approximately $225,000. Diversified Trust Co purchased a new position in shares of American Tower in the fourth quarter valued at approximately $212,000. Lavaca Capital LLC purchased a new position in shares of American Tower in the fourth quarter valued at approximately $27,000. Finally, BB&T Corp boosted its stake in shares of American Tower by 4.9% in the fourth quarter. BB&T Corp now owns 39,560 shares of the real estate investment trust’s stock valued at $6,258,000 after purchasing an additional 1,850 shares during the period. Institutional investors own 94.84% 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 approximately 171,000 communications sites.

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Analyst Recommendations for American Tower (NYSE:AMT)

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