American Tower (NYSE:AMT) Upgraded at Hsbc Global Res

American Tower (NYSE:AMT) was upgraded by equities researchers at Hsbc Global Res to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Several other brokerages have also recently commented on AMT. Morgan Stanley decreased their target price on American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. Scotiabank reduced their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company reduced their price objective on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Citizens Jmp raised American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Finally, JMP Securities began coverage on American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $225.21.

American Tower Trading Up 0.8 %

NYSE:AMT opened at $205.61 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The business’s 50 day moving average is $187.09 and its two-hundred day moving average is $206.81. The company has a market cap of $96.08 billion, a PE ratio of 86.76, a P/E/G ratio of 1.29 and a beta of 0.84. American Tower has a 52 week low of $170.46 and a 52 week high of $243.56.

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

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’s 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 transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by corporate insiders.

Institutional Trading of American Tower

Several hedge funds and other institutional investors have recently modified their holdings of AMT. Glenview Trust co increased its holdings in American Tower by 0.8% during the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust’s stock worth $1,294,000 after acquiring an additional 54 shares during the period. CreativeOne Wealth LLC grew its holdings in American Tower by 2.1% in the 4th quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust’s stock worth $477,000 after acquiring an additional 54 shares during the last quarter. Rehmann Capital Advisory Group grew its holdings in American Tower by 4.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after acquiring an additional 58 shares during the last quarter. Precedent Wealth Partners LLC boosted its stake in shares of American Tower by 4.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock valued at $235,000 after purchasing an additional 58 shares in the last quarter. Finally, Safe Harbor Fiduciary LLC boosted its stake in shares of American Tower by 1.1% during the 4th quarter. Safe Harbor Fiduciary LLC now owns 5,330 shares of the real estate investment trust’s stock valued at $978,000 after purchasing an additional 58 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

About American Tower

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.