BMO Capital Markets Boosts American Tower (NYSE:AMT) Price Target to $220.00

American Tower (NYSE:AMT) had its price objective increased by BMO Capital Markets from $210.00 to $220.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. BMO Capital Markets’ target price points to a potential upside of 7.78% from the stock’s current price.

Other research analysts have also issued research reports about the company. Morgan Stanley dropped their target price on American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock 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. 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. JMP Securities initiated coverage on American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target for the company. Finally, Barclays reduced their price target on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Four 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $225.21.

American Tower Price Performance

Shares of AMT opened at $204.12 on Wednesday. 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 company has a market capitalization of $95.38 billion, a price-to-earnings ratio of 86.13, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. The business has a 50-day moving average of $186.66 and a 200-day moving average of $206.94.

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

Insiders Place Their Bets

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower 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 completion of the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of American Tower

Several large investors have recently modified their holdings of AMT. Norges Bank purchased a new position in American Tower during the fourth quarter valued at $1,164,851,000. Cohen & Steers Inc. increased its holdings in shares of American Tower by 21.8% in the fourth quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust’s stock worth $3,516,890,000 after purchasing an additional 3,437,602 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of American Tower by 66.5% in the fourth quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust’s stock worth $1,570,547,000 after purchasing an additional 3,421,413 shares during the last quarter. Capital World Investors increased its stake in American Tower by 160.6% during the fourth quarter. Capital World Investors now owns 4,920,100 shares of the real estate investment trust’s stock worth $902,396,000 after acquiring an additional 3,032,005 shares during the last quarter. Finally, FMR LLC increased its stake in American Tower by 25.4% during the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after acquiring an additional 2,152,646 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.