American Tower (NYSE:AMT) Price Target Raised to $250.00 at JPMorgan Chase & Co.

American Tower (NYSE:AMT) had its target price raised by investment analysts at JPMorgan Chase & Co. from $240.00 to $250.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 6.86% from the company’s previous close.

Several other equities analysts have also issued reports on AMT. Scotiabank lifted their target price on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 31st. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft increased their price objective on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. TD Cowen boosted their target price on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets raised their price objective on American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, American Tower has an average rating of “Moderate Buy” and an average price target of $234.00.

American Tower Stock Down 0.5 %

Shares of AMT traded down $1.10 during midday trading on Monday, reaching $233.96. 309,372 shares of the stock were exchanged, compared to its average volume of 2,312,874. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. The company’s 50 day moving average is $224.57 and its two-hundred day moving average is $202.39. The company has a market capitalization of $109.25 billion, a P/E ratio of 52.92, a PEG ratio of 1.60 and a beta of 0.83. American Tower has a 52 week low of $154.58 and a 52 week high of $243.56.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.52). The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. American Tower’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.46 EPS. On average, sell-side analysts anticipate that American Tower will post 10.13 earnings per share for the current year.

Insider Transactions at American Tower

In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the sale, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the completion of the sale, the chief accounting officer now directly owns 31,873 shares in the company, valued at $7,424,177.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the completion of the sale, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The disclosure for this sale can be found here. Insiders sold a total of 33,723 shares of company stock valued at $7,795,397 in the last three months. 0.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On American Tower

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in American Tower by 21.9% during the fourth quarter. Wellington Management Group LLP now owns 15,823,622 shares of the real estate investment trust’s stock worth $3,416,004,000 after acquiring an additional 2,839,570 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of American Tower by 36.2% in the first quarter. Principal Financial Group Inc. now owns 8,794,776 shares of the real estate investment trust’s stock valued at $1,737,760,000 after buying an additional 2,336,501 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of American Tower by 41.8% during the second quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after purchasing an additional 1,885,421 shares in the last quarter. Edgewood Management LLC boosted its position in American Tower by 46.2% in the 4th quarter. Edgewood Management LLC now owns 4,985,879 shares of the real estate investment trust’s stock valued at $1,076,352,000 after buying an additional 1,576,683 shares during the period. Finally, Vanguard Group Inc. grew its stake in American Tower by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock worth $12,248,812,000 after purchasing an additional 965,938 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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.