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

American Tower (NYSE:AMT) had its target price dropped by stock analysts at Barclays from $251.00 to $215.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price target points to a potential upside of 20.12% from the stock’s current price.

A number of other research firms have also recently issued reports on AMT. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. BMO Capital Markets cut their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Wells Fargo & Company downgraded American Tower from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Mizuho dropped 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, Scotiabank reduced their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $230.67.

American Tower Stock Up 1.2 %

Shares of AMT stock opened at $178.99 on Monday. American Tower has a 52-week low of $170.46 and a 52-week high of $243.56. The stock has a market cap of $83.64 billion, a price-to-earnings ratio of 75.52, a PEG ratio of 1.31 and a beta of 0.84. The firm’s 50-day moving average is $193.58 and its 200-day moving average is $211.68. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period in the previous year, the firm posted $2.58 earnings per share. The firm’s revenue was down 10.5% compared to the same quarter last year. Sell-side analysts predict that American Tower will post 10.08 EPS for the current year.

Institutional Investors Weigh In On American Tower

Several hedge funds and other institutional investors have recently made changes to their positions in AMT. HBK Sorce Advisory LLC increased its holdings in American Tower by 8.2% in the 2nd quarter. HBK Sorce Advisory LLC now owns 1,534 shares of the real estate investment trust’s stock worth $298,000 after purchasing an additional 116 shares in the last quarter. Thoroughbred Financial Services LLC acquired a new stake in American Tower during the 2nd quarter worth approximately $407,000. Bcwm LLC grew its holdings in American Tower by 3.2% during the 2nd quarter. Bcwm LLC now owns 26,370 shares of the real estate investment trust’s stock worth $5,126,000 after acquiring an additional 822 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in American Tower by 16.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust’s stock worth $643,571,000 after acquiring an additional 464,429 shares during the last quarter. Finally, One Capital Management LLC bought a new position in shares of American Tower during the second quarter valued at $1,763,000. 92.69% of the stock is owned by institutional investors.

American Tower Company Profile

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.