American Tower (NYSE:AMT) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

American Tower (NYSE:AMT) had its price objective upped by BMO Capital Markets from $210.00 to $220.00 in a research report report published on Wednesday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the real estate investment trust’s stock.

Several other research analysts also recently commented on the company. JMP Securities assumed coverage on American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 target price for the company. Barclays reduced their price objective on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Finally, Scotiabank lowered 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 report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $225.21.

American Tower Stock Performance

Shares of AMT stock opened at $205.61 on Wednesday. The company has a fifty day moving average price of $187.09 and a two-hundred day moving average price of $206.81. American Tower has a one year low of $170.46 and a one year high of $243.56. The stock has a market cap of $96.08 billion, a P/E ratio of 86.76, a P/E/G ratio of 1.29 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period last year, the business posted $2.29 EPS. American Tower’s revenue was up 3.7% on a year-over-year basis. As a group, equities analysts predict that American Tower will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio is currently 273.42%.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the 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 sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On American Tower

Several institutional investors and hedge funds have recently bought and sold shares of AMT. Fortitude Family Office LLC raised its position in shares of American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 78 shares in the last quarter. Minot DeBlois Advisors LLC acquired a new stake in shares of American Tower during the 4th quarter worth approximately $29,000. Hara Capital LLC bought a new position in American Tower in the third quarter valued at approximately $31,000. Roxbury Financial LLC acquired a new position in American Tower during the fourth quarter valued at approximately $32,000. Finally, Graney & King LLC bought a new stake in American Tower during the fourth quarter worth $32,000. Institutional investors own 92.69% of the company’s stock.

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.