American Tower (NYSE:AMT) Given New $214.00 Price Target at Barclays

American Tower (NYSE:AMT) had its target price decreased by investment analysts at Barclays from $215.00 to $214.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price target points to a potential upside of 11.46% from the stock’s current price.

A number of other research analysts have also issued reports on AMT. The Goldman Sachs Group reduced their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. BMO Capital Markets lowered their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a report on Monday. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, JMP Securities began coverage on American Tower in a research note on Monday. They issued an “outperform” rating and a $225.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $226.23.

American Tower Trading Up 3.7 %

Shares of AMT opened at $192.01 on Tuesday. American Tower has a 1-year low of $170.46 and a 1-year high of $243.56. 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 firm has a 50 day simple moving average of $192.08 and a 200-day simple moving average of $211.24. The stock has a market cap of $89.72 billion, a price-to-earnings ratio of 81.01, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s revenue was down 10.5% compared to the same quarter last year. During the same period last year, the firm earned $2.58 earnings per share. Equities analysts forecast that American Tower will post 10.15 EPS for the current fiscal year.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were 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 owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. State Street Corp raised its position in shares of American Tower by 3.1% in the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after purchasing an additional 635,726 shares in the last quarter. Geode Capital Management LLC raised its holdings in American Tower by 1.9% in the third quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock valued at $2,599,074,000 after acquiring an additional 204,426 shares in the last quarter. FMR LLC boosted its stake in American Tower by 25.4% during the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after acquiring an additional 2,152,646 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of American Tower by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust’s stock worth $1,211,397,000 after purchasing an additional 243,061 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of American Tower by 0.9% during the third quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock worth $981,455,000 after purchasing an additional 38,436 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

About American Tower

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.