American Tower (NYSE:AMT) was upgraded by stock analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a research note issued to investors on Friday, MarketBeat reports. The firm presently has a $270.00 target price on the real estate investment trust’s stock. Oppenheimer’s price objective would suggest a potential upside of 12.66% from the stock’s current price.
Several other research firms have also commented on AMT. UBS Group raised American Tower from a “neutral” rating to a “buy” rating and set a $270.00 price target on the stock in a research report on Thursday, April 2nd. KeyCorp increased their price objective on American Tower from $254.00 to $273.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. New Street Research raised American Tower from a “neutral” rating to a “buy” rating in a report on Thursday, March 12th. Wells Fargo & Co increased their price objective on American Tower from $265.00 to $272.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Raymond James raised American Tower from a “market perform” rating to an “outperform” rating and set a $211.00 price objective for the company in a report on Thursday, March 26th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. American Tower has a consensus rating of “Buy” and an average price target of $257.38.
Shares of NYSE AMT traded up $11.50 during mid-day trading on Friday, reaching $239.66. The company had a trading volume of 1,248,805 shares, compared to its average volume of 1,986,447. The firm has a 50 day simple moving average of $239.36 and a two-hundred day simple moving average of $229.42. American Tower has a 52-week low of $174.32 and a 52-week high of $260.43. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 6.91. The stock has a market cap of $102.02 billion, a P/E ratio of 53.43, a PEG ratio of 1.95 and a beta of 0.44.
American Tower (NYSE:AMT) last issued its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.12). American Tower had a return on equity of 35.63% and a net margin of 24.55%. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. During the same period in the previous year, the business posted $1.84 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities analysts expect that American Tower will post 8 EPS for the current year.
In other American Tower news, Director David E. Sharbutt sold 2,200 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $243.60, for a total value of $535,920.00. Following the completion of the transaction, the director now owns 4,097 shares in the company, valued at $998,029.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven O. Vondran sold 1,229 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $205.81, for a total value of $252,940.49. Following the completion of the transaction, the executive vice president now owns 27,469 shares of the company’s stock, valued at approximately $5,653,394.89. The disclosure for this sale can be found here. Insiders have sold 14,392 shares of company stock valued at $3,343,752 in the last 90 days. Company insiders own 0.65% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in AMT. Wesbanco Bank Inc. grew its position in American Tower by 1.0% during the fourth quarter. Wesbanco Bank Inc. now owns 4,145 shares of the real estate investment trust’s stock worth $952,000 after buying an additional 40 shares during the period. Fiera Capital Corp grew its holdings in shares of American Tower by 3.4% in the 4th quarter. Fiera Capital Corp now owns 1,301 shares of the real estate investment trust’s stock worth $299,000 after acquiring an additional 43 shares during the period. Goelzer Investment Management Inc. grew its holdings in shares of American Tower by 0.3% in the 1st quarter. Goelzer Investment Management Inc. now owns 14,873 shares of the real estate investment trust’s stock worth $3,239,000 after acquiring an additional 43 shares during the period. Gryphon Financial Partners LLC increased its stake in American Tower by 0.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 10,231 shares of the real estate investment trust’s stock valued at $2,351,000 after purchasing an additional 46 shares in the last quarter. Finally, Institute for Wealth Management LLC. raised its holdings in American Tower by 2.3% during the first quarter. Institute for Wealth Management LLC. now owns 2,046 shares of the real estate investment trust’s stock worth $446,000 after purchasing an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 91.73% 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 171,000 communications sites.
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