BMO Capital Markets Has Lowered Expectations for American Tower (NYSE:AMT) Stock Price

American Tower (NYSE:AMT) had its price objective lowered by equities researchers at BMO Capital Markets from $255.00 to $245.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. BMO Capital Markets’ target price suggests a potential upside of 14.73% from the stock’s previous close.

AMT has been the topic of several other reports. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. Barclays raised their target price on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Royal Bank of Canada increased their price target on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. StockNews.com raised American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Finally, Scotiabank upped their target price on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.85.

American Tower Trading Up 0.0 %

Shares of American Tower stock opened at $213.54 on Wednesday. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. American Tower has a 1 year low of $170.46 and a 1 year high of $243.56. The company has a market capitalization of $99.74 billion, a P/E ratio of 40.14, a P/E/G ratio of 1.09 and a beta of 0.83. The business has a 50 day moving average price of $228.45 and a 200 day moving average price of $208.46.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period last year, the firm earned $2.58 earnings per share. The business’s revenue was down 10.5% compared to the same quarter last year. Sell-side analysts anticipate that American Tower will post 10.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cultivar Capital Inc. acquired a new position in shares of American Tower during the 2nd quarter valued at $25,000. Fortitude Family Office LLC raised its position in American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 78 shares during the period. Fairscale Capital LLC acquired a new position in shares of American Tower during the second quarter worth about $27,000. Hobbs Group Advisors LLC purchased a new stake in shares of American Tower in the second quarter worth about $29,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of American Tower during the 3rd quarter valued at about $30,000. 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.