Mizuho Issues Pessimistic Forecast for American Tower (NYSE:AMT) Stock Price

American Tower (NYSE:AMT) had its target price reduced by Mizuho from $221.00 to $204.00 in a research note issued to investors on Wednesday,Benzinga reports. Mizuho currently has a neutral rating on the real estate investment trust’s stock.

Several other equities analysts have also weighed in on AMT. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Barclays reduced their price objective on American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. The Goldman Sachs Group lowered their target price on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Scotiabank dropped their target price on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. Finally, Wells Fargo & Company cut 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 report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.67.

American Tower Stock Performance

Shares of NYSE:AMT opened at $173.54 on Wednesday. The firm has a market capitalization of $81.09 billion, a PE ratio of 73.22, a P/E/G ratio of 1.31 and a beta of 0.84. 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 business has a 50-day moving average of $194.98 and a two-hundred day moving average of $211.65.

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). The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period last year, the company posted $2.58 EPS. As a group, research analysts forecast that American Tower will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be paid a $1.62 dividend. The ex-dividend date is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.73%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AMT. RMR Wealth Builders lifted its position in shares of American Tower by 12.6% during the fourth quarter. RMR Wealth Builders now owns 8,998 shares of the real estate investment trust’s stock worth $1,650,000 after purchasing an additional 1,008 shares during the last quarter. Atlas Brown Inc. raised its stake in American Tower by 7.3% during the fourth quarter. Atlas Brown Inc. now owns 1,106 shares of the real estate investment trust’s stock valued at $203,000 after buying an additional 75 shares in the last quarter. Sugarloaf Wealth Management LLC lifted its holdings in American Tower by 14.3% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 19,564 shares of the real estate investment trust’s stock worth $3,588,000 after buying an additional 2,452 shares during the last quarter. Jacobs & Co. CA grew its position in shares of American Tower by 50.8% in the 4th quarter. Jacobs & Co. CA now owns 35,044 shares of the real estate investment trust’s stock worth $6,427,000 after acquiring an additional 11,799 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of American Tower by 17.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 702 shares of the real estate investment trust’s stock valued at $129,000 after acquiring an additional 106 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

About American Tower

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.