American Tower (NYSE:AMT) Price Target Cut to $251.00 by Analysts at Barclays

American Tower (NYSE:AMT) had its price target reduced by Barclays from $255.00 to $251.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

A number of other equities research analysts have also recently weighed in on the company. Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $245.00 to $230.00 in a report on Thursday, October 10th. TD Cowen boosted 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. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. BMO Capital Markets reduced their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Finally, Mizuho raised their target price on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $235.54.

American Tower Trading Up 1.1 %

Shares of NYSE AMT opened at $203.18 on Monday. The company has a market cap of $94.94 billion, a price-to-earnings ratio of 85.73, a price-to-earnings-growth ratio of 1.34 and a beta of 0.84. The stock’s 50 day simple moving average is $219.44 and its 200 day simple moving average is $211.24. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower has a 12-month low of $170.46 and a 12-month high of $243.56.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the business posted $2.58 earnings per share. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. Equities research analysts expect that American Tower will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Wednesday, October 9th. American Tower’s payout ratio is 273.42%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMT. Cultivar Capital Inc. purchased a new position in shares of American Tower in the second quarter worth approximately $25,000. Fortitude Family Office LLC increased its holdings 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 worth $25,000 after buying an additional 78 shares during the last quarter. Fairscale Capital LLC acquired a new position in shares of American Tower during the 2nd quarter worth $27,000. Hobbs Group Advisors LLC bought a new position in American Tower during the second quarter valued at about $29,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of American Tower in the 3rd quarter valued at approximately $30,000. 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.