American Tower (NYSE:AMT) Rating Lowered to Equal Weight at Wells Fargo & Company

American Tower (NYSE:AMT) was downgraded by investment analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research note issued on Thursday, Marketbeat Ratings reports. They presently have a $230.00 target price on the real estate investment trust’s stock, down from their previous target price of $245.00. Wells Fargo & Company‘s price target points to a potential upside of 4.89% from the company’s current price.

A number of other research analysts have also recently issued reports on the company. Mizuho lifted their price objective on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Royal Bank of Canada lifted their price target on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. TD Cowen lifted their price target on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Scotiabank lifted their price target on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $235.21.

American Tower Stock Up 0.6 %

AMT opened at $219.27 on Thursday. American Tower has a fifty-two week low of $157.25 and a fifty-two week high of $243.56. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s fifty day moving average price is $228.56 and its two-hundred day moving average price is $205.38. The company has a market capitalization of $102.42 billion, a P/E ratio of 41.22, a P/E/G ratio of 1.01 and a beta of 0.83.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the prior year, the firm earned $2.46 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts anticipate that American Tower will post 10.13 EPS for the current year.

Insiders Place Their Bets

In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction of $508,020.33. Following the completion of the sale, the chief accounting officer now directly owns 31,873 shares of the company’s stock, valued at approximately $7,424,177.89. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Steven O. Vondran sold 21,537 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 61,843 shares of the company’s stock, valued at $14,223,890. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the sale, the chief accounting officer now directly owns 31,873 shares in the company, valued at $7,424,177.89. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 33,723 shares of company stock valued at $7,795,397. 0.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMT. Bragg Financial Advisors Inc grew its stake in American Tower by 5.2% in the fourth quarter. Bragg Financial Advisors Inc now owns 25,062 shares of the real estate investment trust’s stock valued at $5,410,000 after acquiring an additional 1,247 shares during the period. Bayesian Capital Management LP grew its stake in American Tower by 65.4% in the fourth quarter. Bayesian Capital Management LP now owns 21,754 shares of the real estate investment trust’s stock valued at $4,696,000 after acquiring an additional 8,599 shares during the period. Heitman Real Estate Securities LLC grew its stake in American Tower by 57.2% in the fourth quarter. Heitman Real Estate Securities LLC now owns 229,385 shares of the real estate investment trust’s stock valued at $49,520,000 after acquiring an additional 83,431 shares during the period. Georgetown University grew its stake in American Tower by 0.9% in the fourth quarter. Georgetown University now owns 19,497 shares of the real estate investment trust’s stock valued at $4,209,000 after acquiring an additional 178 shares during the period. Finally, Guardian Wealth Advisors LLC NC boosted its position in shares of American Tower by 1.2% during the fourth quarter. Guardian Wealth Advisors LLC NC now owns 7,966 shares of the real estate investment trust’s stock worth $1,720,000 after buying an additional 92 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

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.