American Tower (NYSE:AMT) Price Target Cut to $245.00 by Analysts at Deutsche Bank Aktiengesellschaft

American Tower (NYSE:AMT – Get Rating) had its target price reduced by Deutsche Bank Aktiengesellschaft from $254.00 to $245.00 in a report published on Tuesday morning, The Fly reports.

AMT has been the topic of a number of other reports. Credit Suisse Group decreased their target price on American Tower from $251.00 to $244.00 and set an outperform rating on the stock in a research report on Friday, February 24th. Raymond James decreased their target price on American Tower from $233.00 to $227.00 and set an outperform rating on the stock in a research report on Friday, February 24th. Barclays decreased their target price on American Tower from $247.00 to $246.00 and set an overweight rating on the stock in a research report on Wednesday, February 8th. Wells Fargo & Company boosted their price target on American Tower from $225.00 to $245.00 in a report on Wednesday, December 14th. Finally, Morgan Stanley boosted their price target on American Tower from $219.00 to $224.00 and gave the stock an equal weight rating in a report on Monday, January 23rd. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $260.31.

American Tower Stock Down 3.1 %

American Tower stock opened at $192.37 on Tuesday. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.54 and a quick ratio of 0.54. American Tower has a 1-year low of $178.17 and a 1-year high of $282.47. The company has a market cap of $89.58 billion, a PE ratio of 50.10, a price-to-earnings-growth ratio of 2.05 and a beta of 0.56. The stock’s 50 day moving average price is $214.88 and its 200 day moving average price is $218.86.

American Tower (NYSE:AMT – Get Rating) last posted its earnings results on Thursday, February 23rd. The real estate investment trust reported ($1.47) EPS for the quarter, missing analysts’ consensus estimates of $2.16 by ($3.63). The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.68 billion. American Tower had a return on equity of 15.80% and a net margin of 16.49%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.18 earnings per share. On average, sell-side analysts predict that American Tower will post 9.64 EPS for the current fiscal year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 2nd. Investors of record on Wednesday, December 28th were paid a $1.56 dividend. This is a positive change from American Tower’s previous quarterly dividend of $1.47. This represents a $6.24 annualized dividend and a yield of 3.24%. The ex-dividend date was Tuesday, December 27th. American Tower’s dividend payout ratio is presently 162.50%.

Insiders Place Their Bets

In other American Tower news, Director Raymond P. Dolan sold 1,620 shares of the company’s stock in a transaction dated Friday, January 13th. The stock was sold at an average price of $229.25, for a total transaction of $371,385.00. Following the completion of the sale, the director now directly owns 17,473 shares in the company, valued at $4,005,685.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other American Tower news, Director Raymond P. Dolan sold 1,620 shares of the company’s stock in a transaction dated Friday, January 13th. The stock was sold at an average price of $229.25, for a total transaction of $371,385.00. Following the completion of the sale, the director now directly owns 17,473 shares in the company, valued at $4,005,685.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Samme L. Thompson sold 1,739 shares of the company’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $218.59, for a total value of $380,128.01. Following the sale, the director now owns 22,099 shares of the company’s stock, valued at $4,830,620.41. The disclosure for this sale can be found here. Insiders sold 8,587 shares of company stock worth $1,947,849 over the last three months. 0.24% of the stock is owned by insiders.

Institutional Investors Weigh In On American Tower

Institutional investors and hedge funds have recently modified their holdings of the stock. Romano Brothers AND Company purchased a new stake in shares of American Tower in the third quarter worth about $392,000. WINTON GROUP Ltd purchased a new position in American Tower in the second quarter valued at about $1,879,000. Campbell Newman Asset Management Inc. boosted its holdings in American Tower by 0.7% in the third quarter. Campbell Newman Asset Management Inc. now owns 110,686 shares of the real estate investment trust’s stock valued at $23,764,000 after purchasing an additional 748 shares during the last quarter. Federated Hermes Inc. boosted its holdings in American Tower by 0.7% in the second quarter. Federated Hermes Inc. now owns 363,418 shares of the real estate investment trust’s stock valued at $92,886,000 after purchasing an additional 2,576 shares during the last quarter. Finally, Strategy Asset Managers LLC purchased a new position in American Tower in the third quarter valued at about $242,000. Hedge funds and other institutional investors own 89.65% of the company’s stock.

About American Tower

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American Tower Corp. provides real estate investment services, and owns, operates, and develops multi-tenant real estate properties. It operates through the following segments: U.S. & Canada, Asia-Pacific, Europe, Africa Latin America, and Services. The Asia-Pacific segment refers to the operations in Australia and India.