American Tower (NYSE:AMT) Price Target Raised to $223.00

American Tower (NYSE:AMT) had its price objective raised by equities researchers at Barclays from $214.00 to $223.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price objective suggests a potential upside of 2.46% from the stock’s previous close.

AMT has been the subject of several other reports. Wells Fargo & Company raised shares of American Tower from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $210.00 to $230.00 in a research note on Monday. The Goldman Sachs Group cut their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Morgan Stanley decreased their target price on American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. BMO Capital Markets boosted their price objective on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Finally, Citigroup raised their target price on shares of American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, American Tower presently has a consensus rating of “Buy” and a consensus target price of $229.43.

American Tower Price Performance

AMT stock traded up $3.38 during mid-day trading on Friday, hitting $217.65. 2,163,273 shares of the stock were exchanged, compared to its average volume of 2,473,292. The business has a fifty day moving average price of $195.13 and a 200 day moving average price of $205.66. American Tower has a 12 month low of $170.46 and a 12 month high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $101.74 billion, a price-to-earnings ratio of 91.84, a PEG ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.29 EPS. On average, sell-side analysts anticipate that American Tower will post 10.14 EPS for the current year.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’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 owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.18% of the stock is owned by insiders.

Institutional Trading of American Tower

Institutional investors have recently made changes to their positions in the business. State Street Corp grew its position in shares of American Tower by 3.1% during the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after purchasing an additional 635,726 shares in the last quarter. Cohen & Steers Inc. grew its holdings in American Tower by 21.8% during the 4th quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust’s stock valued at $3,516,890,000 after buying an additional 3,437,602 shares in the last quarter. Geode Capital Management LLC increased its stake in American Tower by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust’s stock worth $2,074,956,000 after acquiring an additional 129,192 shares during the last quarter. FMR LLC raised its holdings in shares of American Tower by 5.0% during the 4th quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust’s stock worth $2,050,390,000 after acquiring an additional 537,136 shares in the last quarter. Finally, Capital Research Global Investors boosted its position in shares of American Tower by 66.5% during the 4th quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust’s stock valued at $1,570,547,000 after acquiring an additional 3,421,413 shares during the last quarter. Hedge funds and other institutional investors 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.