American Tower (NYSE:AMT) Price Target Raised to $220.00

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

A number of other brokerages have also weighed in on AMT. The Goldman Sachs Group dropped their price target on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Citigroup dropped their price target on American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Mizuho dropped their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Finally, StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. 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 stock. According to MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and a consensus price target of $225.21.

American Tower Price Performance

AMT opened at $200.75 on Wednesday. The business’s 50-day moving average is $186.16 and its two-hundred day moving average is $206.96. American Tower has a 1 year low of $170.46 and a 1 year high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market capitalization of $93.81 billion, a PE ratio of 84.70, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the previous year, the firm earned $2.29 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. Research analysts anticipate that American Tower will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Friday, December 27th. American Tower’s payout ratio is presently 273.42%.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Fortitude Family Office LLC lifted its holdings in American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 78 shares during the period. Minot DeBlois Advisors LLC acquired a new position in shares of American Tower during the 4th quarter worth approximately $29,000. Hara Capital LLC acquired a new position in shares of American Tower during the 3rd quarter worth approximately $31,000. Roxbury Financial LLC acquired a new position in shares of American Tower during the 4th quarter worth approximately $32,000. Finally, Graney & King LLC acquired a new position in shares of American Tower during the 4th quarter worth approximately $32,000. 92.69% of the stock is 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.