American Tower (NYSE:AMT) Price Target Cut to $213.00 by Analysts at Morgan Stanley

American Tower (NYSE:AMT) had its price objective decreased by Morgan Stanley from $219.00 to $213.00 in a research report report published on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the real estate investment trust’s stock.

A number of other equities analysts have also recently commented on AMT. Wells Fargo & Company decreased their price objective on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. BMO Capital Markets reduced their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Citigroup lowered their price target on shares of American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, February 14th. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Scotiabank lowered their target price on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research note on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.21.

American Tower Stock Performance

Shares of AMT opened at $200.75 on Monday. 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 moving average of $186.16 and a 200-day moving average of $206.96. The company has a market cap of $93.81 billion, a PE ratio of 84.70, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. American Tower has a one year low of $170.46 and a one year high of $243.56.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the previous year, the business earned $2.29 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year. As a group, equities analysts forecast that American Tower will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a dividend of $1.62 per share. The ex-dividend date was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.23%. American Tower’s dividend payout ratio is 273.42%.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AMT. Glenview Trust co increased its position in American Tower by 0.8% during the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust’s stock worth $1,294,000 after purchasing an additional 54 shares in the last quarter. CreativeOne Wealth LLC increased its holdings in shares of American Tower by 2.1% during the fourth quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust’s stock worth $477,000 after buying an additional 54 shares in the last quarter. Palumbo Wealth Management LLC lifted its stake in shares of American Tower by 1.6% in the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock valued at $864,000 after acquiring an additional 57 shares during the last quarter. Rehmann Capital Advisory Group boosted its holdings in shares of American Tower by 4.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after acquiring an additional 58 shares in the last quarter. Finally, Precedent Wealth Partners LLC grew its position in American Tower by 4.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after acquiring an additional 58 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

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.