American Tower (NYSE:AMT) Price Target Lowered to $251.00 at Barclays

American Tower (NYSE:AMT) had its price target cut by Barclays from $255.00 to $251.00 in a research report report published on Monday morning,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

AMT has been the topic of a number of other reports. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. BMO Capital Markets reduced their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Finally, Scotiabank cut their price objective on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, nine have assigned 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 a consensus target price of $235.54.

American Tower Stock Up 1.2 %

NYSE:AMT opened at $198.84 on Monday. 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 capitalization of $92.92 billion, a price-to-earnings ratio of 83.90, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84. American Tower has a one year low of $170.46 and a one year high of $243.56. The stock has a 50-day simple moving average of $221.71 and a 200 day simple moving average of $211.24.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the previous year, the business posted $2.58 EPS. American Tower’s revenue was down 10.5% compared to the same quarter last year. Sell-side analysts predict that American Tower will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were given a dividend of $1.62 per share. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 3.26%. American Tower’s dividend payout ratio (DPR) is 273.42%.

Institutional Trading of American Tower

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMT. Balentine LLC acquired a new stake in shares of American Tower during the 3rd quarter valued at $586,000. Czech National Bank raised its holdings in American Tower by 6.9% during the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after buying an additional 6,163 shares during the period. Tidal Investments LLC lifted its stake in American Tower by 27.7% during the first quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock valued at $4,029,000 after buying an additional 4,430 shares in the last quarter. Cetera Advisors LLC lifted its position in shares of American Tower by 29.0% in the 1st quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock valued at $8,157,000 after acquiring an additional 9,275 shares in the last quarter. Finally, Savvy Advisors Inc. boosted its stake in American Tower by 268.2% in the 3rd quarter. Savvy Advisors Inc. now owns 4,463 shares of the real estate investment trust’s stock worth $1,038,000 after purchasing an additional 3,251 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

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.