American Tower (NYSE:AMT) PT Raised to $300.00

American Tower (NYSE:AMTGet Rating) had its price objective upped by investment analysts at Royal Bank of Canada from $282.00 to $300.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 10.22% from the company’s previous close.

AMT has been the subject of several other reports. Morgan Stanley cut their price target on shares of American Tower from $268.00 to $252.00 and set an “equal weight” rating for the company in a report on Wednesday, July 20th. TheStreet upgraded shares of American Tower from a “c+” rating to a “b” rating in a report on Wednesday, April 27th. Credit Suisse Group assumed coverage on shares of American Tower in a research report on Wednesday, June 22nd. They set an “outperform” rating and a $313.00 price objective on the stock. KeyCorp upped their price objective on shares of American Tower from $283.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. raised shares of American Tower from an “underweight” rating to an “overweight” rating and upped their target price for the stock from $245.00 to $285.00 in a report on Tuesday, June 21st. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $291.69.

American Tower Trading Up 0.3 %

Shares of NYSE AMT opened at $272.19 on Thursday. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.65 and a current ratio of 0.65. The business’s 50 day moving average price is $256.59 and its 200-day moving average price is $248.36. American Tower has a fifty-two week low of $220.00 and a fifty-two week high of $303.72. The company has a market cap of $126.49 billion, a price-to-earnings ratio of 44.77, a PEG ratio of 2.67 and a beta of 0.46.

American Tower (NYSE:AMTGet Rating) last announced its earnings results on Thursday, July 28th. The real estate investment trust reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.99. The business had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.64 billion. American Tower had a return on equity of 28.93% and a net margin of 27.23%. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.42 EPS. On average, sell-side analysts expect that American Tower will post 9.37 earnings per share for the current year.

Insider Activity

In other news, Director Robert D. Hormats sold 150 shares of the business’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $254.53, for a total transaction of $38,179.50. Following the completion of the sale, the director now directly owns 6,571 shares of the company’s stock, valued at approximately $1,672,516.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Robert D. Hormats sold 200 shares of the business’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $235.40, for a total transaction of $47,080.00. Following the completion of the sale, the director now owns 6,721 shares of the company’s stock, valued at approximately $1,582,123.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert D. Hormats sold 150 shares of the company’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $254.53, for a total transaction of $38,179.50. Following the completion of the transaction, the director now owns 6,571 shares of the company’s stock, valued at approximately $1,672,516.63. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Institutional Trading of American Tower

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rational Advisors LLC lifted its position in shares of American Tower by 140.0% in the 4th quarter. Rational Advisors LLC now owns 84 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 49 shares in the last quarter. Cassady Schiller Wealth Management LLC purchased a new stake in American Tower in the 4th quarter worth approximately $25,000. Sandy Cove Advisors LLC purchased a new stake in American Tower in the 4th quarter worth approximately $27,000. Crewe Advisors LLC acquired a new position in shares of American Tower during the 4th quarter worth $28,000. Finally, Charter Oak Capital Management LLC acquired a new position in shares of American Tower during the 2nd quarter worth $26,000. 91.00% of the stock is owned by institutional investors and hedge funds.

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.

See Also

Analyst Recommendations for American Tower (NYSE:AMT)

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