American Tower (NYSE:AMT) Upgraded at Citizens Jmp

American Tower (NYSE:AMT) was upgraded by stock analysts at Citizens Jmp to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other research firms have also recently weighed in on AMT. Barclays reduced their price objective on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Mizuho decreased their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Scotiabank reduced their target price on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. BMO Capital Markets lowered their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, JMP Securities started coverage on American Tower in a research note on Monday. They issued an “outperform” rating and a $225.00 price objective for the company. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $226.31.

American Tower Price Performance

NYSE:AMT opened at $192.01 on Monday. 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 has a 52 week low of $170.46 and a 52 week high of $243.56. The stock’s 50-day moving average price is $192.08 and its 200-day moving average price is $211.24. The stock has a market capitalization of $89.72 billion, a PE ratio of 81.01, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period in the previous year, the business posted $2.58 earnings per share. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, equities analysts expect that American Tower will post 10.15 EPS for the current fiscal year.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred on 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 approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On American Tower

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fortitude Family Office LLC increased its position in shares of American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 78 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower during the third quarter valued at about $30,000. Hara Capital LLC purchased a new stake in shares of American Tower in the 3rd quarter valued at approximately $31,000. Legacy Investment Solutions LLC acquired a new position in shares of American Tower in the 3rd quarter worth approximately $34,000. Finally, Activest Wealth Management boosted its position in shares of American Tower by 431.0% during the 3rd 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 period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

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.