Barclays Increases American Tower (NYSE:AMT) Price Target to $223.00

American Tower (NYSE:AMT) had its price target boosted by research analysts at Barclays from $214.00 to $223.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price objective indicates a potential upside of 3.05% from the stock’s current price.

Several other analysts have also recently weighed in on AMT. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. BMO Capital Markets lifted their price target on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Mizuho cut their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Morgan Stanley dropped their target price on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Finally, Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $229.43.

American Tower Stock Up 1.0 %

Shares of NYSE AMT opened at $216.41 on Friday. 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 firm’s fifty day moving average is $195.99 and its 200 day moving average is $205.43. The company has a market cap of $101.16 billion, a price-to-earnings ratio of 91.31, a PEG ratio of 1.29 and a beta of 0.85.

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

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the 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 sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On American Tower

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Glenview Trust co lifted its stake 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 valued at $1,294,000 after acquiring an additional 54 shares during the period. CreativeOne Wealth LLC lifted its stake in American Tower by 2.1% during the 4th quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust’s stock valued at $477,000 after acquiring an additional 54 shares during the period. Rehmann Capital Advisory Group lifted its stake in American Tower by 4.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after acquiring an additional 58 shares during the period. Precedent Wealth Partners LLC lifted its stake in 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 acquiring an additional 58 shares during the period. Finally, Safe Harbor Fiduciary LLC lifted its stake in 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 acquiring an additional 58 shares during the period. 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.