Barclays Lowers American Tower (NYSE:AMT) Price Target to $214.00

American Tower (NYSE:AMT) had its price objective reduced by equities research analysts at Barclays from $215.00 to $214.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price target points to a potential upside of 16.39% from the company’s previous close.

Several other equities research analysts have also recently commented on AMT. Wells Fargo & Company dropped their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. JMP Securities initiated coverage on shares of American Tower in a report on Monday. They issued an “outperform” rating and a $225.00 target price on the stock. Scotiabank reduced their target price on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. The Goldman Sachs Group dropped their price target on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, Citizens Jmp raised American Tower to a “strong-buy” rating in a research note on Monday. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and a consensus price target of $226.23.

American Tower Price Performance

NYSE AMT opened at $183.87 on Tuesday. The firm has a market capitalization of $85.92 billion, a PE ratio of 77.58, a P/E/G ratio of 1.24 and a beta of 0.84. 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 12 month low of $170.46 and a 12 month high of $243.56. The company’s 50 day simple moving average is $191.66 and its 200 day simple moving average is $210.97.

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

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On American Tower

Institutional investors have recently modified their holdings of the stock. Creative Planning grew its stake in American Tower by 5.8% in the second quarter. Creative Planning now owns 70,641 shares of the real estate investment trust’s stock valued at $13,731,000 after purchasing an additional 3,861 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of American Tower by 5.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 58,617 shares of the real estate investment trust’s stock valued at $11,394,000 after buying an additional 3,218 shares during the last quarter. Sunbelt Securities Inc. grew its stake in shares of American Tower by 90.6% in the 2nd quarter. Sunbelt Securities Inc. now owns 4,749 shares of the real estate investment trust’s stock valued at $923,000 after buying an additional 2,257 shares in the last quarter. Regal Investment Advisors LLC increased its holdings in American Tower by 3.6% in the second quarter. Regal Investment Advisors LLC now owns 4,064 shares of the real estate investment trust’s stock worth $790,000 after buying an additional 142 shares during the last quarter. Finally, Pathway Financial Advisers LLC raised its position in American Tower by 2.8% during the second quarter. Pathway Financial Advisers LLC now owns 4,276 shares of the real estate investment trust’s stock valued at $826,000 after acquiring an additional 117 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.