American Tower (NYSE:AMT) Price Target Cut to $195.00 by Analysts at Wells Fargo & Company

American Tower (NYSE:AMT) had its price target decreased by Wells Fargo & Company from $215.00 to $195.00 in a research report sent to investors on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued research reports about the company. Mizuho lowered 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. Scotiabank dropped their target price on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. BMO Capital Markets dropped 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 note on Wednesday, October 30th. Finally, Barclays decreased their target price on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $226.42.

American Tower Stock Performance

AMT opened at $185.17 on Thursday. 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 has a 52-week low of $170.46 and a 52-week high of $243.56. The firm has a market cap of $86.53 billion, a P/E ratio of 78.13, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84. The business’s fifty day moving average is $192.08 and its 200-day moving average is $211.04.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the previous year, the firm posted $2.58 earnings per share. American Tower’s quarterly revenue was down 10.5% compared to the same quarter last year. Sell-side analysts expect that American Tower will post 10.15 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is 273.42%.

Insider Activity at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by corporate insiders.

Institutional Trading of American Tower

Several hedge funds have recently bought and sold shares of AMT. State Street Corp grew its holdings in shares of American Tower by 3.1% during the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after buying an additional 635,726 shares during the last quarter. Geode Capital Management LLC boosted its stake in American Tower by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock valued at $2,599,074,000 after purchasing an additional 204,426 shares during the last quarter. FMR LLC increased its holdings in American Tower by 25.4% during the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after purchasing an additional 2,152,646 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of American Tower by 41.8% in 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of American Tower by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust’s stock valued at $1,211,397,000 after purchasing an additional 243,061 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.