Barclays Has Lowered Expectations for American Tower (NYSE:AMT) Stock Price

American Tower (NYSE:AMTGet Free Report) had its price objective cut by research analysts at Barclays from $215.00 to $214.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price objective suggests a potential upside of 16.39% from the company’s current price.

Other analysts also recently issued reports about the stock. The Goldman Sachs Group reduced their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Scotiabank cut 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 report on Thursday, January 23rd. Wells Fargo & Company decreased their target price on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Mizuho cut their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Citizens Jmp raised American Tower to a “strong-buy” rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $226.23.

Get Our Latest Stock Analysis on American Tower

American Tower Price Performance

Shares of NYSE:AMT opened at $183.87 on Tuesday. The business has a 50 day moving average price of $191.66 and a 200 day moving average price of $210.97. American Tower has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a market cap of $85.92 billion, a price-to-earnings ratio of 77.58, a PEG ratio of 1.24 and a beta of 0.84. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMTGet Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 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 quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.58 earnings per share. Research analysts predict that American Tower will post 10.15 earnings per share for the current year.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by insiders.

Hedge Funds Weigh In On American Tower

Institutional investors and hedge funds have recently bought and sold shares of the business. Creative Planning raised its holdings in shares of American Tower by 5.8% in the second quarter. Creative Planning now owns 70,641 shares of the real estate investment trust’s stock valued at $13,731,000 after buying an additional 3,861 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in American Tower by 5.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 58,617 shares of the real estate investment trust’s stock valued at $11,394,000 after acquiring an additional 3,218 shares in the last quarter. Sunbelt Securities Inc. raised its stake in shares of American Tower by 90.6% in the second quarter. Sunbelt Securities Inc. now owns 4,749 shares of the real estate investment trust’s stock worth $923,000 after acquiring an additional 2,257 shares during the last quarter. Regal Investment Advisors LLC lifted its position in shares of American Tower by 3.6% during the second quarter. Regal Investment Advisors LLC now owns 4,064 shares of the real estate investment trust’s stock worth $790,000 after purchasing an additional 142 shares in the last quarter. Finally, Pathway Financial Advisers LLC grew its stake in shares of American Tower by 2.8% during the second quarter. Pathway Financial Advisers LLC now owns 4,276 shares of the real estate investment trust’s stock valued at $826,000 after purchasing an additional 117 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

About American Tower

(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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Analyst Recommendations for American Tower (NYSE:AMT)

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