American Tower (NYSE:AMT) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

American Tower (NYSE:AMT) had its price objective increased by research analysts at Wells Fargo & Company from $230.00 to $240.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 6.99% from the company’s previous close.

A number of other brokerages have also issued reports on AMT. Raymond James lifted their price target on American Tower from $231.00 to $251.00 and gave the stock a “strong-buy” rating in a research note on Wednesday. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. BMO Capital Markets boosted their price target on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. JMP Securities increased their price objective on shares of American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a report on Wednesday. Finally, Barclays boosted their target price on American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $239.27.

American Tower Stock Down 0.5 %

Shares of AMT stock opened at $224.33 on Wednesday. American Tower has a twelve month low of $172.51 and a twelve month high of $243.56. The stock has a market cap of $104.86 billion, a P/E ratio of 94.65, a P/E/G ratio of 1.29 and a beta of 0.87. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a 50 day moving average of $213.19 and a 200 day moving average of $202.25.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AMT. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of American Tower in the first quarter valued at $3,182,000. Marks Group Wealth Management Inc increased its stake in American Tower by 3.5% during the first quarter. Marks Group Wealth Management Inc now owns 8,325 shares of the real estate investment trust’s stock worth $1,812,000 after purchasing an additional 279 shares during the period. CWM LLC lifted its position in shares of American Tower by 8.2% during the first quarter. CWM LLC now owns 16,580 shares of the real estate investment trust’s stock worth $3,608,000 after purchasing an additional 1,255 shares in the last quarter. TFR Capital LLC. purchased a new position in shares of American Tower in the first quarter valued at approximately $512,000. Finally, Stephens Inc. AR grew its holdings in shares of American Tower by 3.8% in the first quarter. Stephens Inc. AR now owns 71,770 shares of the real estate investment trust’s stock valued at $15,617,000 after purchasing an additional 2,619 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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.