American Tower (NYSE:AMT) Given New $251.00 Price Target at Barclays

American Tower (NYSE:AMT) had its price objective dropped by research analysts at Barclays from $255.00 to $251.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price target points to a potential upside of 28.22% from the company’s previous close.

AMT has been the subject of a number of other research reports. 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 reduced their price objective for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Royal Bank of Canada raised their price objective on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Scotiabank reduced their price objective on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their price objective on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $235.54.

American Tower Stock Down 0.4 %

Shares of NYSE:AMT opened at $195.75 on Monday. American Tower has a 52-week low of $170.46 and a 52-week high of $243.56. The firm has a market capitalization of $91.47 billion, a P/E ratio of 82.59, a P/E/G ratio of 1.31 and a beta of 0.84. The stock has a 50 day moving average price of $222.51 and a 200-day moving average price of $211.10. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (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 the consensus estimate of $2.77 billion. During the same period in the prior year, the company posted $2.58 EPS. The firm’s revenue was down 10.5% on a year-over-year basis. As a group, equities research analysts anticipate that American Tower will post 10.08 EPS for the current fiscal year.

Hedge Funds Weigh In On American Tower

A number of institutional investors and hedge funds have recently modified their holdings of AMT. FMR LLC boosted its stake in shares of American Tower by 25.4% in the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after buying an additional 2,152,646 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of American Tower by 41.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after buying an additional 1,885,421 shares during the last quarter. Adelante Capital Management LLC boosted its stake in shares of American Tower by 2,723.4% in the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock worth $279,890,000 after buying an additional 1,160,890 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of American Tower by 23,224.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock worth $231,941,000 after buying an additional 993,061 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of American Tower by 22,242.7% in the 3rd quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock worth $1,811,330,000 after buying an additional 775,379 shares during 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.