American Tower (NYSE:AMT) Price Target Cut to $213.00 by Analysts at Morgan Stanley

American Tower (NYSE:AMT) had its price objective lowered by research analysts at Morgan Stanley from $219.00 to $213.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s price objective points to a potential upside of 11.70% from the stock’s previous close.

Several other brokerages have also weighed in on AMT. Citigroup lowered their price objective on American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a report on Friday, February 14th. BMO Capital Markets dropped their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. The Goldman Sachs Group reduced their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, JMP Securities initiated coverage on American Tower in a research note on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $227.00.

American Tower Trading Down 0.5 %

Shares of AMT opened at $190.69 on Monday. 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 has a one year low of $170.46 and a one year high of $243.56. The stock has a 50-day moving average price of $185.67 and a 200 day moving average price of $207.36. The company has a market capitalization of $89.11 billion, a P/E ratio of 80.42, a P/E/G ratio of 1.29 and a beta of 0.84.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.18% of the stock is currently owned by company insiders.

Institutional Trading of American Tower

Institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. lifted its holdings in American Tower by 15.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 16,857 shares of the real estate investment trust’s stock valued at $3,920,000 after purchasing an additional 2,233 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of American Tower by 9.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,499 shares of the real estate investment trust’s stock worth $11,170,000 after acquiring an additional 4,040 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in American Tower by 4.0% during the 3rd quarter. Arkadios Wealth Advisors now owns 1,737 shares of the real estate investment trust’s stock valued at $404,000 after purchasing an additional 67 shares in the last quarter. Frank Rimerman Advisors LLC raised its position in American Tower by 12.8% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 4,098 shares of the real estate investment trust’s stock valued at $953,000 after purchasing an additional 465 shares during the last quarter. Finally, Ellis Investment Partners LLC acquired a new stake in shares of American Tower in the third quarter valued at $233,000. Institutional investors and hedge funds own 92.69% 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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.