The Goldman Sachs Group Cuts American Tower (NYSE:AMT) Price Target to $234.00

American Tower (NYSE:AMT) had its price target lowered by stock analysts at The Goldman Sachs Group from $260.00 to $234.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 18.68% from the company’s previous close.

AMT has been the subject of a number of other reports. JPMorgan Chase & Co. boosted their price target on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. BMO Capital Markets dropped their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, Royal Bank of Canada increased their target price on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $235.85.

American Tower Stock Down 0.3 %

AMT stock opened at $197.17 on Thursday. The company has a market capitalization of $92.14 billion, a P/E ratio of 83.19, a PEG ratio of 1.33 and a beta of 0.83. The firm has a 50 day simple moving average of $210.92 and a 200-day simple moving average of $213.17. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower has a twelve month low of $170.46 and a twelve month high of $243.56.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. American Tower’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.58 EPS. On average, equities research analysts predict that American Tower will post 10.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Cultivar Capital Inc. acquired a new stake in American Tower during the 2nd quarter worth about $25,000. Fortitude Family Office LLC raised its stake in 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 valued at $25,000 after purchasing an additional 78 shares during the period. Fairscale Capital LLC purchased a new stake in shares of American Tower in the second quarter valued at $27,000. Hobbs Group Advisors LLC acquired a new position in American Tower during the second quarter valued at $29,000. Finally, Northwest Investment Counselors LLC acquired a new stake in American Tower during the 3rd quarter worth about $30,000. 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.