American Tower (AMT) Downgraded by ValuEngine

American Tower (NYSE:AMT) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Friday.

Several other research analysts have also recently issued reports on the company. Royal Bank Of Canada restated a “buy” rating and issued a $153.00 price objective on shares of American Tower in a research note on Friday, September 1st. Citigroup lifted their price target on American Tower from $142.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, August 28th. UBS lifted their price target on American Tower from $150.00 to $163.00 and gave the company a “buy” rating in a research report on Monday, September 11th. BidaskClub upgraded American Tower from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Finally, Argus lifted their price target on American Tower to $170.00 and gave the company a “buy” rating in a research report on Thursday, November 9th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $158.50.

Shares of American Tower (NYSE:AMT) traded down $0.32 during trading hours on Friday, hitting $143.61. The stock had a trading volume of 1,993,812 shares, compared to its average volume of 2,013,182. American Tower has a 1 year low of $100.79 and a 1 year high of $155.28. The stock has a market capitalization of $61,588.01, a PE ratio of 22.23, a price-to-earnings-growth ratio of 1.69 and a beta of 0.73. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.42 and a current ratio of 1.42.

In other American Tower news, Chairman James D. Taiclet, Jr. sold 34,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $145.89, for a total value of $4,960,260.00. Following the sale, the chairman now directly owns 304,707 shares of the company’s stock, valued at $44,453,704.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Edmund Disanto sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $136.00, for a total value of $1,360,000.00. Following the completion of the sale, the executive vice president now directly owns 151,928 shares in the company, valued at $20,662,208. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 122,000 shares of company stock valued at $17,580,160. 0.86% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of AMT. Vanguard Group Inc. boosted its stake in shares of American Tower by 3.2% in the second quarter. Vanguard Group Inc. now owns 28,442,502 shares of the real estate investment trust’s stock worth $3,763,512,000 after acquiring an additional 881,020 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of American Tower by 5.4% in the third quarter. Janus Henderson Group PLC now owns 7,868,533 shares of the real estate investment trust’s stock worth $1,075,458,000 after acquiring an additional 400,117 shares during the last quarter. Northern Trust Corp boosted its stake in shares of American Tower by 9.2% in the second quarter. Northern Trust Corp now owns 6,566,346 shares of the real estate investment trust’s stock worth $868,858,000 after acquiring an additional 550,608 shares during the last quarter. Edgewood Management LLC boosted its stake in shares of American Tower by 1.6% in the third quarter. Edgewood Management LLC now owns 6,326,717 shares of the real estate investment trust’s stock worth $864,736,000 after acquiring an additional 99,052 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of American Tower by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,164,598 shares of the real estate investment trust’s stock worth $432,537,000 after acquiring an additional 166,910 shares during the last quarter. 91.88% of the stock is currently owned by institutional investors.

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About American Tower

American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for American Tower (NYSE:AMT)

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