Deutsche Bank Aktiengesellschaft Increases American Tower (NYSE:AMT) Price Target to $235.00

American Tower (NYSE:AMT) had its target price upped by analysts at Deutsche Bank Aktiengesellschaft from $212.00 to $235.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 5.13% from the stock’s current price.

Several other equities analysts have also recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group initiated coverage on shares of American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 target price for the company. BMO Capital Markets reissued an “outperform” rating and issued a $246.00 target price (up from $225.00) on shares of American Tower in a research note on Wednesday, July 31st. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Finally, TD Cowen raised their target price 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. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $230.77.

American Tower Stock Up 0.4 %

Shares of AMT traded up $0.87 during mid-day trading on Wednesday, hitting $223.53. 1,100,995 shares of the company’s stock were exchanged, compared to its average volume of 2,367,843. The company has a market cap of $104.38 billion, a PE ratio of 50.61, a P/E/G ratio of 1.56 and a beta of 0.81. American Tower has a 52 week low of $154.58 and a 52 week high of $236.13. The company has a 50-day simple moving average of $205.70 and a 200 day simple moving average of $195.29. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.52). The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. American Tower’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.46 earnings per share. On average, research analysts forecast that American Tower will post 10.04 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the transaction, the executive vice president now owns 28,413 shares in the company, valued at $5,692,828.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total value of $702,061.44. Following the sale, the executive vice president now owns 28,413 shares in the company, valued at approximately $5,692,828.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the completion of the sale, the executive vice president now owns 51,746 shares in the company, valued at approximately $12,070,789.42. The disclosure for this sale can be found here. Insiders sold 37,227 shares of company stock valued at $8,497,458 over the last quarter. 0.18% of the stock is owned by company insiders.

Institutional Investors Weigh In On American Tower

Institutional investors and hedge funds have recently made changes to their positions in the business. Fortis Capital Advisors LLC bought a new stake in American Tower in the 4th quarter worth about $220,000. Keel Point LLC grew its position in American Tower by 26.5% in the 4th quarter. Keel Point LLC now owns 1,836 shares of the real estate investment trust’s stock worth $396,000 after purchasing an additional 385 shares in the last quarter. Cookson Peirce & Co. Inc. bought a new stake in American Tower in the 4th quarter worth about $418,000. Wealth Alliance grew its position in American Tower by 19.3% in the 4th quarter. Wealth Alliance now owns 4,537 shares of the real estate investment trust’s stock worth $980,000 after purchasing an additional 735 shares in the last quarter. Finally, Tyche Wealth Partners LLC bought a new stake in American Tower in the 4th quarter worth about $454,000. 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.