American Tower (NYSE:AMT) Earns Overweight Rating from Analysts at Morgan Stanley

Stock analysts at Morgan Stanley assumed coverage on shares of American Tower (NYSE:AMT) in a research report issued to clients and investors on Tuesday. The firm set an “overweight” rating and a $250.00 price target on the real estate investment trust’s stock. Morgan Stanley’s price objective suggests a potential upside of 14.47% from the company’s current price.

AMT has been the subject of a number of other research reports. Citigroup boosted their price objective on American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday, March 10th. Mizuho reduced their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. JMP Securities initiated coverage on shares of American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price on the stock. Finally, The Goldman Sachs Group lowered their price target on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $232.07.

American Tower Price Performance

Shares of American Tower stock traded up $0.80 on Tuesday, hitting $218.40. 157,169 shares of the company traded hands, compared to its average volume of 2,380,558. The business has a 50-day simple moving average of $199.44 and a 200 day simple moving average of $204.20. American Tower has a 52 week low of $170.46 and a 52 week high of $243.56. The stock has a market capitalization of $102.09 billion, a P/E ratio of 92.31, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.83. The firm had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.29 EPS. Research analysts expect that American Tower will post 10.14 earnings per share for the current fiscal year.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Minot DeBlois Advisors LLC purchased a new position in shares of American Tower in the 4th quarter valued at about $29,000. Roxbury Financial LLC purchased a new stake in shares of American Tower in the fourth quarter valued at approximately $32,000. Graney & King LLC acquired a new position in shares of American Tower during the 4th quarter worth approximately $32,000. Legacy Investment Solutions LLC purchased a new position in shares of American Tower during the 3rd quarter valued at approximately $34,000. Finally, Crowley Wealth Management Inc. acquired a new stake in American Tower in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 92.69% 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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.