American Tower (NYSE:AMT – Get Rating) had its target price lowered by analysts at Morgan Stanley from $275.00 to $268.00 in a report released on Tuesday, Stock Target Advisor reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s price target points to a potential upside of 1.85% from the stock’s previous close.
A number of other research analysts have also recently issued reports on the company. Credit Suisse Group cut their price target on American Tower from $325.00 to $300.00 and set an “outperform” rating for the company in a report on Tuesday, March 1st. Bank of America began coverage on American Tower in a report on Sunday. They issued a “buy” rating and a $315.00 price target for the company. Deutsche Bank Aktiengesellschaft cut their price target on American Tower from $288.00 to $260.00 and set a “hold” rating for the company in a report on Monday, February 28th. Raymond James cut their price target on American Tower from $294.00 to $279.00 and set an “outperform” rating for the company in a report on Monday, February 28th. Finally, Wells Fargo & Company lifted their price target on American Tower from $250.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, March 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $290.29.
Shares of NYSE AMT traded down $4.24 during midday trading on Tuesday, reaching $263.12. 14,593 shares of the company traded hands, compared to its average volume of 2,224,897. The firm has a market cap of $120.06 billion, a PE ratio of 45.36, a PEG ratio of 2.52 and a beta of 0.48. The stock’s 50-day simple moving average is $251.17 and its 200-day simple moving average is $252.68. American Tower has a 12 month low of $220.00 and a 12 month high of $303.72. The company has a debt-to-equity ratio of 4.12, a quick ratio of 0.51 and a current ratio of 0.51.
In other American Tower news, CFO Rodney M. Smith sold 25,389 shares of the business’s stock in a transaction that occurred on Thursday, April 21st. The stock was sold at an average price of $270.00, for a total value of $6,855,030.00. Following the sale, the chief financial officer now owns 52,398 shares in the company, valued at approximately $14,147,460. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.24% of the company’s stock.
Several institutional investors have recently made changes to their positions in AMT. Cohen & Steers Inc. raised its stake in shares of American Tower by 27.5% during the 1st quarter. Cohen & Steers Inc. now owns 19,680,735 shares of the real estate investment trust’s stock worth $4,944,107,000 after purchasing an additional 4,239,151 shares in the last quarter. Norges Bank acquired a new position in shares of American Tower during the 4th quarter worth approximately $1,148,150,000. BlackRock Inc. increased its holdings in shares of American Tower by 6.7% during the 4th quarter. BlackRock Inc. now owns 36,636,712 shares of the real estate investment trust’s stock worth $10,716,237,000 after acquiring an additional 2,302,202 shares during the last quarter. State Street Corp increased its holdings in shares of American Tower by 7.9% during the 1st quarter. State Street Corp now owns 21,253,223 shares of the real estate investment trust’s stock worth $5,339,235,000 after acquiring an additional 1,550,683 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of American Tower by 1,183.6% during the 1st quarter. Jennison Associates LLC now owns 1,518,225 shares of the real estate investment trust’s stock worth $381,408,000 after acquiring an additional 1,399,946 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.
American Tower Company Profile (Get Rating)
American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.
- Get a free copy of the StockNews.com research report on American Tower (AMT)
- It’s Time To PLAY With Dave & Buster’s
- It’s A Sweet Time To Buy The J.M. Smucker Co.
- Seagate Technology: Improved Fundamentals & Recovering Technicals
- Don’t Rush Out To Buy G-III Apparel
- Target’s Warning Is Dire News For The S&P 500
Want More Great Investing Ideas?
- Bear Market Game Plan!
- The 10 Best Stocks to Own in 2022
- 7 Stocks to Buy and Hold Forever
- 3 Stocks to DOUBLE This Year
Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.