American Tower Co. (NYSE:AMT) Receives $231.14 Average Price Target from Analysts

Shares of American Tower Co. (NYSE:AMT) have been given a consensus recommendation of “Moderate Buy” by the fourteen ratings firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $231.14.

Several research analysts have recently issued reports on AMT shares. TD Cowen raised their price target on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company raised their target price on American Tower from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Royal Bank of Canada upped their price target on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Barclays reduced their price objective on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Finally, The Goldman Sachs Group started coverage on shares of American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 target price for the company.

Insider Buying and Selling at American Tower

In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the transaction, the chief executive officer now owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the sale, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Olivier Puech sold 10,005 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the transaction, the executive vice president now owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The disclosure for this sale can be found here. Insiders have sold 37,227 shares of company stock valued at $8,497,458 in the last 90 days. 0.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On American Tower

A number of institutional investors and hedge funds have recently made changes to their positions in AMT. Norges Bank acquired a new stake in American Tower in the 4th quarter valued at about $1,051,898,000. Wellington Management Group LLP lifted its position in shares of American Tower by 21.9% in the fourth quarter. Wellington Management Group LLP now owns 15,823,622 shares of the real estate investment trust’s stock valued at $3,416,004,000 after buying an additional 2,839,570 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of American Tower by 36.2% during the 1st quarter. Principal Financial Group Inc. now owns 8,794,776 shares of the real estate investment trust’s stock worth $1,737,760,000 after acquiring an additional 2,336,501 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of American Tower by 41.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after acquiring an additional 1,885,421 shares during the last quarter. Finally, Edgewood Management LLC raised its stake in American Tower by 46.2% in the 4th quarter. Edgewood Management LLC now owns 4,985,879 shares of the real estate investment trust’s stock valued at $1,076,352,000 after acquiring an additional 1,576,683 shares during the period. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of NYSE:AMT opened at $227.00 on Thursday. The stock has a market capitalization of $106.00 billion, a P/E ratio of 51.36, a P/E/G ratio of 1.48 and a beta of 0.81. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower has a 1-year low of $154.58 and a 1-year high of $236.13. The business has a 50-day moving average price of $209.70 and a two-hundred day moving average price of $196.75.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the prior year, the company earned $2.46 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts predict that American Tower will post 10.04 earnings per share for the current year.

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.