American Tower (NYSE:AMT) Stock Rating Upgraded by Wells Fargo & Company

American Tower (NYSE:AMT) was upgraded by equities research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Monday. The brokerage presently has a $230.00 target price on the real estate investment trust’s stock, up from their previous target price of $210.00. Wells Fargo & Company‘s price target indicates a potential upside of 9.00% from the company’s current price.

AMT has been the topic of several other research reports. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Mizuho decreased their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Scotiabank dropped their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday, January 23rd. Finally, Barclays lowered their price objective on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $228.79.

American Tower Price Performance

Shares of NYSE:AMT opened at $211.02 on Monday. The stock has a market capitalization of $98.64 billion, a P/E ratio of 89.04, a P/E/G ratio of 1.29 and a beta of 0.85. The business has a 50-day moving average of $192.33 and a two-hundred day moving average of $205.68. American Tower has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. The business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $2.29 EPS. On average, equities research analysts predict that American Tower will post 10.14 EPS for the current fiscal year.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American Tower

Large investors have recently modified their holdings of the stock. State Street Corp boosted its position in American Tower by 3.1% in the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after buying an additional 635,726 shares during the last quarter. Cohen & Steers Inc. boosted its holdings in American Tower by 21.8% in the fourth quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust’s stock valued at $3,516,890,000 after acquiring an additional 3,437,602 shares during the last quarter. Geode Capital Management LLC increased its position in American Tower by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust’s stock worth $2,074,956,000 after purchasing an additional 129,192 shares during the period. FMR LLC grew its position in shares of American Tower by 5.0% during the 4th quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust’s stock worth $2,050,390,000 after buying an additional 537,136 shares during the period. Finally, Capital Research Global Investors grew its holdings in American Tower by 66.5% during the 4th quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust’s stock worth $1,570,547,000 after acquiring an additional 3,421,413 shares during the period. 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.