American Tower (NYSE:AMT) Price Target Lowered to $204.00 at Mizuho

American Tower (NYSE:AMT) had its target price cut by equities research analysts at Mizuho from $221.00 to $204.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s price target indicates a potential upside of 13.87% from the company’s current price.

A number of other equities analysts have also weighed in on the company. Wells Fargo & Company lowered 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 report on Thursday, October 10th. The Goldman Sachs Group decreased their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. BMO Capital Markets cut their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Scotiabank decreased 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 note on Wednesday, October 30th. Finally, 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 note on Monday, September 23rd. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus price target of $233.67.

American Tower Stock Up 1.1 %

NYSE AMT opened at $179.15 on Wednesday. The company has a market capitalization of $83.71 billion, a P/E ratio of 75.59, a PEG ratio of 1.31 and a beta of 0.84. American Tower has a 12 month low of $170.46 and a 12 month 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. The company’s 50 day simple moving average is $195.74 and its 200 day simple moving average is $211.81.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Fortitude Family Office LLC grew its stake in shares of American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 78 shares in the last quarter. Fairscale Capital LLC bought a new position in American Tower during the second quarter valued at approximately $27,000. Northwest Investment Counselors LLC acquired a new stake in American Tower in the third quarter valued at approximately $30,000. Hara Capital LLC bought a new stake in American Tower in the third quarter worth approximately $31,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of American Tower during the 3rd quarter worth $34,000. 92.69% of the stock is 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.