American Tower (NYSE:AMT) Price Target Lowered to $214.00 at Barclays

American Tower (NYSE:AMT) had its target price lowered by Barclays from $215.00 to $214.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

Several other equities research analysts have also issued reports on the stock. Wells Fargo & Company reduced their target price on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Scotiabank cut their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. JMP Securities assumed coverage on shares of American Tower in a report on Monday. They set an “outperform” rating and a $225.00 price objective for the company. Finally, Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $226.23.

American Tower Price Performance

Shares of NYSE:AMT opened at $187.06 on Tuesday. The firm’s 50 day moving average price is $191.94 and its 200-day moving average price is $211.14. The stock has a market capitalization of $87.41 billion, a PE ratio of 78.93, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84. American Tower has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company’s revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.58 earnings per share. Equities research analysts expect that American Tower will post 10.15 EPS for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be given a $1.62 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.46%. American Tower’s dividend payout ratio is presently 273.42%.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Institutional Trading of American Tower

A number of institutional investors have recently bought and sold shares of AMT. Fortitude Family Office LLC lifted its position in American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of American Tower during the third quarter worth $30,000. Hara Capital LLC bought a new stake in shares of American Tower during the third quarter worth $31,000. Legacy Investment Solutions LLC bought a new stake in shares of American Tower during the third quarter worth $34,000. Finally, Activest Wealth Management lifted its position in shares of American Tower by 431.0% during the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 125 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.