American Tower (NYSE:AMT) Price Target Cut to $245.00 by Analysts at Deutsche Bank Aktiengesellschaft

American Tower (NYSE:AMT – Get Rating) had its price objective lowered by Deutsche Bank Aktiengesellschaft from $254.00 to $245.00 in a report issued on Tuesday morning, The Fly reports.

AMT has been the topic of several other reports. Truist Financial lowered their target price on American Tower from $325.00 to $275.00 and set a buy rating on the stock in a research report on Friday, January 13th. Wells Fargo & Company raised their target price on American Tower from $225.00 to $245.00 in a research report on Wednesday, December 14th. Barclays decreased their price target on American Tower from $247.00 to $246.00 and set an overweight rating for the company in a research note on Wednesday, February 8th. Raymond James decreased their price target on American Tower from $233.00 to $227.00 and set an outperform rating for the company in a research note on Friday, February 24th. Finally, Morgan Stanley increased their price target on American Tower from $219.00 to $224.00 and gave the company an equal weight rating in a research note on Monday, January 23rd. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $260.31.

American Tower Stock Down 3.1 %

Shares of American Tower stock opened at $192.37 on Tuesday. American Tower has a twelve month low of $178.17 and a twelve month high of $282.47. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 2.75. The stock has a market capitalization of $89.58 billion, a price-to-earnings ratio of 50.10, a PEG ratio of 2.05 and a beta of 0.56. The business’s 50 day simple moving average is $214.88 and its 200-day simple moving average is $218.86.

American Tower (NYSE:AMT – Get Rating) last posted its earnings results on Thursday, February 23rd. The real estate investment trust reported ($1.47) EPS for the quarter, missing the consensus estimate of $2.16 by ($3.63). American Tower had a net margin of 16.49% and a return on equity of 15.80%. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.68 billion. During the same quarter in the prior year, the business earned $2.18 earnings per share. The firm’s revenue was up 10.6% compared to the same quarter last year. Equities research analysts forecast that American Tower will post 9.64 earnings per share for the current year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 2nd. Stockholders of record on Wednesday, December 28th were given a $1.56 dividend. This represents a $6.24 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Tuesday, December 27th. This is a boost from American Tower’s previous quarterly dividend of $1.47. American Tower’s dividend payout ratio (DPR) is 162.50%.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 2,035 shares of the firm’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $220.85, for a total value of $449,429.75. Following the completion of the sale, the chief financial officer now owns 48,645 shares of the company’s stock, valued at $10,743,248.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Rodney M. Smith sold 2,035 shares of the firm’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $220.85, for a total value of $449,429.75. Following the completion of the sale, the chief financial officer now owns 48,645 shares of the company’s stock, valued at $10,743,248.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Raymond P. Dolan sold 1,620 shares of the stock in a transaction on Friday, January 13th. The stock was sold at an average price of $229.25, for a total value of $371,385.00. Following the sale, the director now owns 17,473 shares of the company’s stock, valued at $4,005,685.25. The disclosure for this sale can be found here. Insiders sold a total of 8,587 shares of company stock valued at $1,947,849 over the last quarter. Company insiders own 0.24% of the company’s stock.

Institutional Trading of American Tower

Hedge funds and other institutional investors have recently modified their holdings of the company. Romano Brothers AND Company purchased a new stake in shares of American Tower during the third quarter worth $392,000. WINTON GROUP Ltd bought a new position in American Tower during the second quarter valued at about $1,879,000. Campbell Newman Asset Management Inc. raised its holdings in American Tower by 0.7% during the third quarter. Campbell Newman Asset Management Inc. now owns 110,686 shares of the real estate investment trust’s stock valued at $23,764,000 after buying an additional 748 shares in the last quarter. Federated Hermes Inc. raised its holdings in American Tower by 0.7% during the second quarter. Federated Hermes Inc. now owns 363,418 shares of the real estate investment trust’s stock valued at $92,886,000 after buying an additional 2,576 shares in the last quarter. Finally, Strategy Asset Managers LLC bought a new position in American Tower during the third quarter valued at about $242,000. 89.65% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Company Profile

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American Tower Corp. provides real estate investment services, and owns, operates, and develops multi-tenant real estate properties. It operates through the following segments: U.S. & Canada, Asia-Pacific, Europe, Africa Latin America, and Services. The Asia-Pacific segment refers to the operations in Australia and India.