American Tower (NYSE:AMT) Price Target Lowered to $213.00 at Morgan Stanley

American Tower (NYSE:AMT) had its target price lowered by Morgan Stanley from $219.00 to $213.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the real estate investment trust’s stock.

Other analysts have also issued reports about the company. The Goldman Sachs Group dropped their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Citigroup cut their price target on shares of American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a report on Friday, February 14th. BMO Capital Markets decreased their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $227.00.

American Tower Trading Up 0.2 %

Shares of American Tower stock opened at $191.88 on Monday. American Tower has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market cap of $89.66 billion, a P/E ratio of 80.96, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. The firm has a 50-day simple moving average of $185.63 and a two-hundred day simple moving average of $207.14.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were paid a $1.62 dividend. The ex-dividend date was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.38%. American Tower’s dividend payout ratio (DPR) is 273.42%.

Insider Buying and Selling

In other news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On American Tower

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fortitude Family Office LLC lifted its holdings in shares of American Tower by 269.0% in the 3rd 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 during the last quarter. Minot DeBlois Advisors LLC purchased a new stake in American Tower in the fourth quarter valued at approximately $29,000. Hara Capital LLC acquired a new stake in shares of American Tower in the third quarter valued at approximately $31,000. Roxbury Financial LLC purchased a new position in shares of American Tower during the fourth quarter worth approximately $32,000. Finally, Graney & King LLC purchased a new stake in American Tower in the 4th quarter valued at $32,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

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.