BMO Capital Markets Forecasts Strong Price Appreciation for American Tower (NYSE:AMT) Stock

American Tower (NYSE:AMT) had its target price increased by investment analysts at BMO Capital Markets from $210.00 to $220.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. BMO Capital Markets’ price target would indicate a potential upside of 7.78% from the stock’s current price.

Other analysts have also issued research reports about the stock. Wells Fargo & Company dropped their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. JMP Securities started coverage on shares of American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 target price for the company. Citigroup lowered their target price on shares of American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, February 14th. The Goldman Sachs Group lowered their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, Mizuho lowered their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $225.21.

American Tower Trading Up 1.7 %

Shares of AMT stock opened at $204.12 on Wednesday. The stock has a market cap of $95.38 billion, a price-to-earnings ratio of 86.13, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The firm’s 50 day moving average price is $186.66 and its two-hundred day moving average price is $206.94.

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

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On American Tower

Institutional investors have recently modified their holdings of the stock. Fortitude Family Office LLC grew its position in shares of American Tower by 269.0% in the 3rd 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. Minot DeBlois Advisors LLC bought a new stake 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 currently 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.