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

American Tower (NYSE:AMT) had its target price decreased by equities researchers at Scotiabank from $236.00 to $220.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s target price suggests a potential upside of 18.81% from the company’s current price.

Other research analysts have also issued reports about the company. Wells Fargo & Company lowered their target price on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. BMO Capital Markets reduced their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Mizuho dropped their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, Barclays reduced their price objective on American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and an average target price of $226.42.

American Tower Stock Down 0.7 %

American Tower stock opened at $185.17 on Thursday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower has a one year low of $170.46 and a one year high of $243.56. The company has a 50-day simple moving average of $192.31 and a 200-day simple moving average of $211.11. The firm has a market capitalization of $86.53 billion, a P/E ratio of 78.13, a P/E/G ratio of 1.24 and a beta of 0.84.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the company earned $2.58 EPS. The business’s quarterly revenue was down 10.5% on a year-over-year basis. As a group, equities analysts expect that American Tower will post 10.15 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now 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 legal filing with the SEC, which is available through this link. 0.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On American Tower

Several institutional investors have recently modified their holdings of AMT. Balentine LLC bought a new stake in shares of American Tower during the 3rd quarter valued at $586,000. Nordea Investment Management AB increased its holdings in American Tower by 28.5% in the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after purchasing an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in American Tower in the third quarter valued at about $1,156,000. Czech National Bank grew its position in shares of American Tower by 6.9% during the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after buying an additional 6,163 shares during the period. Finally, Brookstone Capital Management increased its stake in shares of American Tower by 29.0% in the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock valued at $1,629,000 after acquiring an additional 1,995 shares during 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.