American Tower (NYSE:AMT) Price Target Cut to $251.00 by Analysts at Barclays

American Tower (NYSE:AMT) had its price target reduced by Barclays from $255.00 to $251.00 in a research report sent to investors on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the real estate investment trust’s stock.

AMT has been the subject of several other reports. Scotiabank decreased 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 research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. TD Cowen upped their price target on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Mizuho boosted their target price on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $235.54.

American Tower Price Performance

Shares of NYSE:AMT opened at $198.84 on Monday. The firm has a market cap of $92.92 billion, a price-to-earnings ratio of 83.90, a P/E/G ratio of 1.31 and a beta of 0.84. American Tower has a 1 year low of $170.46 and a 1 year high of $243.56. 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 business has a fifty day simple moving average of $221.71 and a 200 day simple moving average of $211.24.

American Tower (NYSE:AMT) last posted its quarterly 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). The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period last year, the business earned $2.58 earnings per share. As a group, sell-side analysts predict that American Tower will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were given a $1.62 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 3.26%. American Tower’s dividend payout ratio is 273.42%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. NBT Bank N A NY raised its holdings in American Tower by 3.3% in the 2nd quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock valued at $329,000 after acquiring an additional 54 shares in the last quarter. CX Institutional lifted its position in American Tower by 2.9% in the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after purchasing an additional 54 shares during the period. O Brien Greene & Co. Inc boosted its stake in American Tower by 2.3% during the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock worth $481,000 after buying an additional 55 shares in the last quarter. Palumbo Wealth Management LLC increased its holdings in American Tower by 1.6% in the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock valued at $864,000 after buying an additional 57 shares during the period. Finally, Tyche Wealth Partners LLC raised its stake in shares of American Tower by 4.9% in the 2nd quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock valued at $242,000 after buying an additional 58 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.