JMP Securities Begins Coverage on American Tower (NYSE:AMT)

Analysts at JMP Securities started coverage on shares of American Tower (NYSE:AMTGet Free Report) in a research report issued to clients and investors on Monday, Marketbeat reports. The firm set an “outperform” rating and a $225.00 price target on the real estate investment trust’s stock. JMP Securities’ price objective would suggest a potential upside of 20.28% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Scotiabank dropped their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday, January 23rd. Mizuho dropped their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Barclays reduced their target price on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Wells Fargo & Company dropped their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Finally, StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $226.23.

Read Our Latest Stock Analysis on AMT

American Tower Trading Down 2.6 %

Shares of NYSE:AMT opened at $187.06 on Monday. The company has a 50 day moving average of $191.94 and a 200-day 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. The firm has a market cap of $87.41 billion, a P/E ratio of 78.93, a P/E/G ratio of 1.24 and a beta of 0.84. American Tower has a twelve month low of $170.46 and a twelve month high of $243.56.

American Tower (NYSE:AMTGet Free Report) last issued its quarterly 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 firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.58 earnings per share. As a group, analysts anticipate that American Tower will post 10.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AMT. Fortitude Family Office LLC increased its position in American Tower by 269.0% during 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. Northwest Investment Counselors LLC acquired a new position in shares of American Tower during the 3rd quarter valued at about $30,000. Hara Capital LLC bought a new position in shares of American Tower in the 3rd quarter valued at approximately $31,000. Legacy Investment Solutions LLC acquired a new stake in American Tower in the 3rd quarter worth approximately $34,000. Finally, Activest Wealth Management boosted its position in American Tower by 431.0% during the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 125 shares during the period. 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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