American Tower (NYSE:AMT) Stock Price Expected to Rise, UBS Group Analyst Says

American Tower (NYSE:AMT) had its price target boosted by equities research analysts at UBS Group from $245.00 to $250.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. UBS Group’s price target points to a potential upside of 11.44% from the company’s current price.

A number of other equities research analysts have also issued reports on AMT. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Scotiabank restated an “outperform” rating on shares of American Tower in a report on Tuesday, April 22nd. Barclays lifted their price target on American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Wells Fargo & Company raised American Tower from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $210.00 to $230.00 in a research report on Monday, March 17th. Finally, Hsbc Global Res raised American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $239.27.

American Tower Price Performance

Shares of NYSE:AMT opened at $224.33 on Wednesday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market capitalization of $104.86 billion, a PE ratio of 94.65, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. The stock has a fifty day moving average of $213.19 and a 200-day moving average of $202.25. American Tower has a one year low of $172.51 and a one year high of $243.56.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.34. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter last year, the company posted $2.79 EPS. As a group, equities analysts anticipate that American Tower will post 10.14 EPS for the current fiscal year.

Institutional Investors Weigh In On American Tower

A number of large investors have recently bought and sold shares of the business. Partners Group Holding AG raised its stake in shares of American Tower by 8.3% in the 4th quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust’s stock valued at $69,438,000 after acquiring an additional 28,988 shares in the last quarter. Nordea Investment Management AB raised its position in shares of American Tower by 28.5% in the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after purchasing an additional 314,769 shares during the period. TigerOak Management L.L.C. acquired a new stake in shares of American Tower in the fourth quarter worth $1,102,000. Brookstone Capital Management boosted its holdings in shares of American Tower by 29.0% during the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after buying an additional 1,995 shares during the period. Finally, Aviva PLC grew its stake in American Tower by 13.4% in the 4th quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust’s stock valued at $71,252,000 after buying an additional 46,009 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

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.