American Tower (NYSE:AMT) Coverage Initiated by Analysts at StockNews.com

Analysts at StockNews.com started coverage on shares of American Tower (NYSE:AMT – Get Rating) in a report issued on Thursday. The brokerage set a “hold” rating on the real estate investment trust’s stock.

AMT has been the subject of several other reports. Morgan Stanley dropped their target price on American Tower from $224.00 to $215.00 in a research note on Tuesday, April 18th. Moffett Nathanson upgraded American Tower from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $244.00 to $234.00 in a research note on Thursday, March 30th. Royal Bank of Canada dropped their target price on American Tower from $240.00 to $230.00 and set an “outperform” rating for the company in a research note on Monday, March 6th. Deutsche Bank Aktiengesellschaft dropped their price target on American Tower from $254.00 to $245.00 in a research note on Tuesday, March 7th. Finally, Credit Suisse Group dropped their price target on American Tower from $251.00 to $244.00 and set an “outperform” rating for the company in a research note on Friday, February 24th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.12.

American Tower Stock Performance

NYSE AMT opened at $194.76 on Thursday. American Tower has a fifty-two week low of $178.17 and a fifty-two week high of $282.47. The stock has a market cap of $90.77 billion, a price-to-earnings ratio of 64.92, a price-to-earnings-growth ratio of 1.31 and a beta of 0.57. The business has a fifty day moving average of $200.42 and a 200-day moving average of $209.39. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 2.83.

American Tower (NYSE:AMT – Get Rating) last released its earnings results on Wednesday, April 26th. The real estate investment trust reported $0.72 EPS for the quarter, missing the consensus estimate of $2.28 by ($1.56). The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.74 billion. American Tower had a net margin of 12.85% and a return on equity of 11.65%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.55 earnings per share. As a group, analysts predict that American Tower will post 9.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On American Tower

A number of hedge funds have recently bought and sold shares of the business. Personal Capital Advisors Corp lifted its position in shares of American Tower by 1.7% in the first quarter. Personal Capital Advisors Corp now owns 2,510 shares of the real estate investment trust’s stock worth $631,000 after buying an additional 43 shares during the last quarter. Castle Wealth Management LLC lifted its position in shares of American Tower by 4.5% during the 4th quarter. Castle Wealth Management LLC now owns 1,057 shares of the real estate investment trust’s stock worth $226,000 after purchasing an additional 46 shares during the last quarter. Private Ocean LLC lifted its position in shares of American Tower by 47.5% during the 4th quarter. Private Ocean LLC now owns 149 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 48 shares during the last quarter. Cigna Investments Inc. New lifted its position in shares of American Tower by 0.8% during the 4th quarter. Cigna Investments Inc. New now owns 5,767 shares of the real estate investment trust’s stock worth $1,222,000 after purchasing an additional 48 shares during the last quarter. Finally, Kolinsky Wealth Management LLC lifted its position in shares of American Tower by 5.3% during the 3rd quarter. Kolinsky Wealth Management LLC now owns 965 shares of the real estate investment trust’s stock worth $207,000 after purchasing an additional 49 shares during the last quarter. Institutional investors and hedge funds own 89.65% of the company’s stock.

American Tower Company Profile

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American Tower Corp. provides real estate investment services, and owns, operates, and develops multi-tenant real estate properties. It offers leasing of space on communications sites to wireless service providers, radio and television broadcast companies. It operates through the following segments: U.S.