American Tower (NYSE:AMT) Price Target Cut to $215.00 by Analysts at Barclays

American Tower (NYSE:AMT) had its target price cut by equities researchers at Barclays from $251.00 to $215.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price target points to a potential upside of 20.12% from the company’s current price.

Several other equities research analysts have also recently commented on AMT. 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 reduced their price objective on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $230.67.

American Tower Stock Performance

NYSE:AMT opened at $178.99 on Monday. The company has a market capitalization of $83.64 billion, a PE ratio of 75.52, a P/E/G ratio of 1.31 and a beta of 0.84. 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 quick ratio of 0.69 and a current ratio of 0.69. The company has a 50 day simple moving average of $193.58 and a two-hundred day simple moving average of $211.68.

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

Institutional Trading of American Tower

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMT. Balentine LLC bought a new position in shares of American Tower during the third quarter valued at about $586,000. Nordea Investment Management AB grew its position in American Tower by 28.5% during the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after buying an additional 314,769 shares during the period. Point72 Hong Kong Ltd bought a new stake in American Tower in the third quarter worth about $1,156,000. Czech National Bank raised its position in American Tower by 6.9% in the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after acquiring an additional 6,163 shares during the period. Finally, Banque Cantonale Vaudoise boosted its stake in American Tower by 46.8% in the third quarter. Banque Cantonale Vaudoise now owns 25,715 shares of the real estate investment trust’s stock valued at $5,980,000 after acquiring an additional 8,195 shares during the last quarter. 92.69% of the stock is 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.