American Tower (NYSE:AMT) Given New $220.00 Price Target at Citigroup

American Tower (NYSE:AMT) had its target price decreased by equities researchers at Citigroup from $255.00 to $220.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Citigroup’s price target would indicate a potential upside of 15.00% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. BMO Capital Markets reduced their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Scotiabank reduced their target price on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a report on Monday, January 27th. The Goldman Sachs Group reduced their target price on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $225.79.

American Tower Trading Up 0.7 %

NYSE:AMT traded up $1.32 during mid-day trading on Friday, reaching $191.31. 533,031 shares of the company’s stock traded hands, compared to its average volume of 2,062,240. American Tower has a 12-month low of $170.46 and a 12-month high of $243.56. The firm has a market capitalization of $89.40 billion, a price-to-earnings ratio of 80.74, a PEG ratio of 1.27 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The company has a 50 day moving average price of $187.05 and a 200-day moving average price of $209.07.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On American Tower

A number of hedge funds have recently added to or reduced their stakes in AMT. CX Institutional raised its stake in American Tower by 2.9% during the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after buying an additional 54 shares during the last quarter. Creative Planning increased its stake in shares of American Tower by 7.1% in the 3rd quarter. Creative Planning now owns 75,640 shares of the real estate investment trust’s stock worth $17,591,000 after purchasing an additional 4,999 shares in the last quarter. SPC Financial Inc. increased its stake in shares of American Tower by 4.1% in the 3rd quarter. SPC Financial Inc. now owns 3,071 shares of the real estate investment trust’s stock worth $714,000 after purchasing an additional 120 shares in the last quarter. Good Life Advisors LLC purchased a new stake in shares of American Tower in the 3rd quarter worth $201,000. Finally, Global Retirement Partners LLC increased its stake in shares of American Tower by 4.4% in the 3rd quarter. Global Retirement Partners LLC now owns 8,010 shares of the real estate investment trust’s stock worth $1,863,000 after purchasing an additional 338 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

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.