American Tower (NYSE:AMT) Given New $250.00 Price Target at JPMorgan Chase & Co.

American Tower (NYSE:AMT) had its target price raised by investment analysts at JPMorgan Chase & Co. from $240.00 to $250.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 6.86% from the company’s previous close.

A number of other analysts also recently issued reports on AMT. BMO Capital Markets raised their price target on shares of American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, September 13th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Barclays dropped their price target on American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Mizuho increased their target price on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, StockNews.com upgraded American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $234.00.

American Tower Stock Down 0.5 %

Shares of AMT traded down $1.10 during trading hours on Monday, hitting $233.96. The company had a trading volume of 309,372 shares, compared to its average volume of 2,312,874. American Tower has a 52-week low of $154.58 and a 52-week high of $243.56. The firm has a fifty day moving average price of $224.57 and a 200-day moving average price of $202.39. The stock has a market capitalization of $109.25 billion, a price-to-earnings ratio of 52.92, a P/E/G ratio of 1.60 and a beta of 0.83. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period last year, the company posted $2.46 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts forecast that American Tower will post 10.13 EPS for the current fiscal year.

Insider Activity at American Tower

In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the completion of the transaction, the chief accounting officer now directly owns 31,873 shares in the company, valued at approximately $7,424,177.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the sale, the chief accounting officer now directly owns 31,873 shares of the company’s stock, valued at $7,424,177.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at $14,223,890. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,723 shares of company stock valued at $7,795,397. 0.18% of the stock is owned by company insiders.

Institutional Investors Weigh In On American Tower

Hedge funds have recently bought and sold shares of the business. Meyer Handelman Co. purchased a new stake in shares of American Tower in the first quarter valued at $801,000. TD Asset Management Inc grew its stake in shares of American Tower by 23.2% during the fourth quarter. TD Asset Management Inc now owns 275,428 shares of the real estate investment trust’s stock valued at $59,459,000 after buying an additional 51,882 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in shares of American Tower by 13.8% during the 1st quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock worth $7,613,000 after acquiring an additional 4,660 shares during the last quarter. Tidal Investments LLC boosted its holdings in American Tower by 27.7% during the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock valued at $4,029,000 after acquiring an additional 4,430 shares during the period. Finally, Cetera Advisors LLC grew its position in American Tower by 29.0% in the 1st quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock valued at $8,157,000 after acquiring an additional 9,275 shares during the last quarter. Hedge funds and other institutional investors 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.