American Tower (NYSE:AMT) was downgraded by analysts at Guggenheim from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, MarketBeat Ratings reports. They presently have a $135.00 target price on the real estate investment trust’s stock. Guggenheim’s target price would indicate a potential downside of 5.04% from the company’s previous close.
A number of other analysts have also recently commented on AMT. Citigroup cut their target price on shares of American Tower from $162.00 to $161.00 and set a “buy” rating for the company in a research note on Tuesday, March 27th. Zacks Investment Research raised shares of American Tower from a “sell” rating to a “hold” rating in a research note on Tuesday, April 3rd. ValuEngine cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, April 27th. Morgan Stanley cut their target price on shares of American Tower from $157.00 to $154.00 and set an “overweight” rating for the company in a research note on Thursday, May 31st. Finally, Wells Fargo & Co boosted their target price on shares of American Tower from $150.00 to $158.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $158.43.
Get American Tower alerts:AMT stock opened at $142.17 on Monday. The stock has a market cap of $63.26 billion, a PE ratio of 22.28, a P/E/G ratio of 1.65 and a beta of 0.77. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.83 and a quick ratio of 0.83. American Tower has a 52 week low of $130.37 and a 52 week high of $155.28.
American Tower (NYSE:AMT) last released its earnings results on Tuesday, May 1st. The real estate investment trust reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $1.68 by ($1.05). The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.73 billion. American Tower had a return on equity of 17.03% and a net margin of 17.51%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.68 EPS. equities analysts anticipate that American Tower will post 7.01 EPS for the current fiscal year.
In related news, Chairman James D. Taiclet, Jr. sold 43,843 shares of the business’s stock in a transaction dated Monday, July 9th. The shares were sold at an average price of $142.66, for a total transaction of $6,254,642.38. Following the transaction, the chairman now directly owns 223,227 shares in the company, valued at $31,845,563.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 131,529 shares of company stock worth $18,287,354 over the last 90 days. 0.87% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Broadleaf Partners LLC boosted its holdings in American Tower by 18.6% in the 2nd quarter. Broadleaf Partners LLC now owns 22,340 shares of the real estate investment trust’s stock valued at $3,221,000 after purchasing an additional 3,508 shares during the last quarter. Carderock Capital Management Inc. boosted its holdings in American Tower by 11.1% in the 2nd quarter. Carderock Capital Management Inc. now owns 5,221 shares of the real estate investment trust’s stock valued at $753,000 after purchasing an additional 522 shares during the last quarter. Wendell David Associates Inc. boosted its holdings in American Tower by 2.1% in the 2nd quarter. Wendell David Associates Inc. now owns 41,934 shares of the real estate investment trust’s stock valued at $6,046,000 after purchasing an additional 875 shares during the last quarter. Bristol Advisors LLC acquired a new position in American Tower in the 2nd quarter valued at about $1,254,000. Finally, Bank of Montreal Can boosted its holdings in American Tower by 14.3% in the 2nd quarter. Bank of Montreal Can now owns 694,163 shares of the real estate investment trust’s stock valued at $100,076,000 after purchasing an additional 86,949 shares during the last quarter. Hedge funds and other institutional investors own 92.12% 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 160,000 communications sites. For more information about American Tower, please visit the ?Earnings Materials? and ?Company & Industry Resources? sections of our investor relations website at www.americantower.com.
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