American Tower (NYSE:AMT) Stock Rating Lowered by StockNews.com

American Tower (NYSE:AMT) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Several other research firms have also recently weighed in on AMT. Mizuho boosted their price objective on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Barclays boosted their target price on shares of American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Scotiabank cut their target price on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. upped their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $235.85.

American Tower Trading Up 0.0 %

Shares of AMT opened at $213.54 on Wednesday. The firm’s 50-day moving average price is $228.45 and its 200-day moving average price is $208.46. The firm has a market capitalization of $99.74 billion, a price-to-earnings ratio of 40.14, a PEG ratio of 1.09 and a beta of 0.83. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower has a 1-year low of $170.46 and a 1-year high of $243.56.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same period last year, the business earned $2.58 earnings per share. The company’s revenue was down 10.5% on a year-over-year basis. Sell-side analysts anticipate that American Tower will post 10.08 EPS for the current year.

Institutional Trading of American Tower

A number of institutional investors have recently modified their holdings of AMT. Fortitude Family Office LLC raised its position in shares of American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. Fairscale Capital LLC purchased a new position in shares of American Tower in the 2nd quarter valued at approximately $27,000. Northwest Investment Counselors LLC purchased a new position in shares of American Tower in the 3rd quarter valued at approximately $30,000. Cultivar Capital Inc. purchased a new position in shares of American Tower in the 2nd quarter valued at approximately $25,000. Finally, Hara Capital LLC purchased a new position in shares of American Tower in the 3rd quarter valued at approximately $31,000. 92.69% of the stock is currently owned by institutional investors.

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 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.