American Tower (NYSE:AMT) Rating Increased to Strong-Buy at Citizens Jmp

American Tower (NYSE:AMTGet Free Report) was upgraded by investment analysts at Citizens Jmp to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Several other brokerages also recently weighed in on AMT. Wells Fargo & Company reduced their price objective on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Scotiabank decreased their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday, January 23rd. BMO Capital Markets cut their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. The Goldman Sachs Group reduced their target price on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $226.23.

View Our Latest Stock Report on AMT

American Tower Price Performance

American Tower stock opened at $187.06 on Monday. The stock has a market cap of $87.41 billion, a P/E ratio of 78.93, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84. The company has a fifty day simple moving average of $191.94 and a 200-day simple moving average of $211.14. 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:AMTGet Free Report) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate 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%. American Tower’s revenue was down 10.5% on a year-over-year basis. During the same period last year, the business posted $2.58 EPS. Equities analysts expect that American Tower will post 10.15 EPS for the current fiscal year.

Insider Activity

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

Institutional Trading of American Tower

A number of large investors have recently made changes to their positions in the stock. Balentine LLC purchased a new position in American Tower during the third quarter worth about $586,000. Nordea Investment Management AB lifted its holdings in shares of American Tower by 28.5% during the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after acquiring an additional 314,769 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of American Tower in the third quarter worth approximately $1,156,000. Czech National Bank grew its holdings in American Tower by 6.9% in the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after purchasing an additional 6,163 shares during the period. Finally, Brookstone Capital Management increased its position in American Tower by 29.0% during the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after purchasing an additional 1,995 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Company Profile

(Get Free Report)

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.

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