Scotiabank Lowers American Tower (NYSE:AMT) Price Target to $236.00

American Tower (NYSE:AMT) had its target price decreased by analysts at Scotiabank from $248.00 to $236.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s price objective points to a potential upside of 10.52% from the company’s previous close.

Several other equities analysts have also weighed in on AMT. JPMorgan Chase & Co. lifted their price target on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Deutsche Bank Aktiengesellschaft increased their target price on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. TD Cowen upped their price objective on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada increased their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, Mizuho raised their price objective on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $235.85.

American Tower Stock Performance

NYSE AMT opened at $213.54 on Wednesday. The business has a 50-day moving average price of $228.45 and a 200-day moving average price of $208.46. American Tower has a twelve month low of $170.46 and a twelve month high of $243.56. The firm has a market cap of $99.74 billion, a price-to-earnings ratio of 40.14, a price-to-earnings-growth ratio of 1.09 and a beta of 0.83. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42.

American Tower (NYSE:AMT) last posted its quarterly earnings data 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 company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. American Tower’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.58 earnings per share. As a group, equities research analysts predict that American Tower will post 10.08 EPS for the current fiscal year.

Institutional Investors Weigh In On American Tower

A number of hedge funds and other institutional investors have recently bought and sold shares of AMT. TFB Advisors LLC bought a new stake in American Tower in the 3rd quarter valued at $234,000. Portside Wealth Group LLC grew its position in American Tower by 1.4% during the 3rd quarter. Portside Wealth Group LLC now owns 5,695 shares of the real estate investment trust’s stock worth $1,324,000 after acquiring an additional 81 shares during the last quarter. Hara Capital LLC bought a new stake in American Tower during the 3rd quarter worth $31,000. JB Capital LLC grew its position in American Tower by 8.1% during the 3rd quarter. JB Capital LLC now owns 17,277 shares of the real estate investment trust’s stock worth $4,018,000 after acquiring an additional 1,296 shares during the last quarter. Finally, Montecito Bank & Trust bought a new stake in American Tower during the 3rd quarter worth $210,000. 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.