American Tower (NYSE:AMT) Price Target Cut to $214.00 by Analysts at Barclays

American Tower (NYSE:AMT) had its price objective lowered by analysts at Barclays from $215.00 to $214.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s target price would indicate a potential upside of 11.46% from the company’s current price.

AMT has been the subject of a number of other research reports. JMP Securities began coverage on shares of American Tower in a research note on Monday. They set an “outperform” rating and a $225.00 target price for the company. BMO Capital Markets lowered their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research report on Monday. The Goldman Sachs Group cut their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Finally, Scotiabank decreased their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average target price of $226.23.

American Tower Stock Up 3.7 %

American Tower stock opened at $192.01 on Tuesday. American Tower has a twelve month low of $170.46 and a twelve month high of $243.56. The firm has a market capitalization of $89.72 billion, a P/E ratio of 81.01, a P/E/G ratio of 1.24 and a beta of 0.84. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock’s fifty day simple moving average is $192.08 and its 200-day simple moving average is $211.24.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS 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 company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period in the prior year, the firm posted $2.58 earnings per share. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. As a group, equities analysts expect that American Tower will post 10.15 earnings per share for the current fiscal year.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower 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 sale, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On American Tower

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fortitude Family Office LLC lifted its stake in shares of 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 purchasing an additional 78 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower during the 3rd quarter valued at approximately $30,000. Hara Capital LLC purchased a new stake in shares of American Tower during the 3rd quarter worth approximately $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of American Tower in the 3rd quarter worth approximately $34,000. Finally, Activest Wealth Management increased its stake in American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds 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.