Citigroup Lowers American Tower (NYSE:AMT) Price Target to $220.00

American Tower (NYSE:AMT) had its price target cut by analysts at Citigroup from $255.00 to $220.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Citigroup’s target price indicates a potential upside of 16.15% from the company’s current price.

Several other research firms also recently weighed in on AMT. JMP Securities assumed coverage on shares of American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. Mizuho dropped their price objective 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. 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. Barclays decreased their price objective on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.79.

American Tower Price Performance

AMT stock opened at $189.41 on Friday. The company has a market cap of $88.51 billion, a P/E ratio of 79.92, a PEG ratio of 1.27 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 1 year low of $170.46 and a 1 year high of $243.56. The firm has a 50-day moving average of $186.70 and a 200 day moving average of $208.89.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of the 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 completion of the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of American Tower

Hedge funds have recently made changes to their positions in the stock. CX Institutional lifted its stake in American Tower by 2.9% during the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after purchasing an additional 54 shares during the last quarter. Creative Planning lifted its stake in American Tower by 7.1% in the third quarter. Creative Planning now owns 75,640 shares of the real estate investment trust’s stock valued at $17,591,000 after buying an additional 4,999 shares during the last quarter. SPC Financial Inc. lifted its stake in American Tower by 4.1% in the third quarter. SPC Financial Inc. now owns 3,071 shares of the real estate investment trust’s stock valued at $714,000 after buying an additional 120 shares during the last quarter. Good Life Advisors LLC bought a new stake in American Tower in the third quarter valued at $201,000. Finally, Global Retirement Partners LLC lifted its stake in American Tower by 4.4% in the third quarter. Global Retirement Partners LLC now owns 8,010 shares of the real estate investment trust’s stock valued at $1,863,000 after buying an additional 338 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.