Mizuho Has Lowered Expectations for American Tower (NYSE:AMT) Stock Price

American Tower (NYSE:AMT) had its price target reduced by equities researchers at Mizuho from $221.00 to $204.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s price objective points to a potential upside of 13.87% from the stock’s previous close.

Several other brokerages have also recently issued reports on AMT. Barclays reduced their price objective on American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Scotiabank reduced their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. The Goldman Sachs Group lowered their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. JPMorgan Chase & Co. increased their price objective on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Finally, StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $233.67.

American Tower Price Performance

Shares of AMT stock opened at $179.15 on Wednesday. The firm has a market cap of $83.71 billion, a P/E ratio of 75.59, a P/E/G ratio of 1.31 and a beta of 0.84. The firm has a fifty day moving average of $195.74 and a two-hundred day moving average of $211.81. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower has a 1-year low of $170.46 and a 1-year high of $243.56.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share 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 the consensus estimate of $2.77 billion. During the same period in the prior year, the firm earned $2.58 earnings per share. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. As a group, research analysts anticipate that American Tower will post 10.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Fortitude Family Office LLC raised its stake in shares of American Tower by 269.0% during 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 in the last quarter. Fairscale Capital LLC acquired a new position in American Tower during the 2nd quarter valued at about $27,000. Northwest Investment Counselors LLC bought a new stake in shares of American Tower during the 3rd quarter worth about $30,000. Hara Capital LLC acquired a new stake in shares of American Tower in the 3rd quarter worth approximately $31,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of American Tower in the third quarter valued at approximately $34,000. 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.