American Tower (NYSE:AMT) Stock Price Expected to Rise, Citigroup Analyst Says

American Tower (NYSE:AMT) had its price objective lifted by equities research analysts at Citigroup from $220.00 to $235.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Citigroup’s price objective would indicate a potential upside of 9.04% from the company’s current price.

Other equities research analysts have also issued reports about the company. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Scotiabank reduced their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. Morgan Stanley reduced 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 research note on Monday, February 24th. The Goldman Sachs Group dropped their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $226.29.

American Tower Stock Performance

Shares of AMT traded up $3.22 during mid-day trading on Monday, reaching $215.51. The company had a trading volume of 2,110,353 shares, compared to its average volume of 2,365,482. The stock has a 50 day moving average of $189.60 and a two-hundred day moving average of $206.21. 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 stock has a market capitalization of $100.74 billion, a P/E ratio of 90.93, a PEG ratio of 1.29 and a beta of 0.85. American Tower has a 52-week low of $170.46 and a 52-week high of $243.56.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter last year, the company earned $2.29 EPS. The business’s revenue was up 3.7% on a year-over-year basis. On average, analysts expect that American Tower will post 10.14 earnings per share for the current year.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On American Tower

A number of institutional investors have recently made changes to their positions in the business. Glenview Trust co boosted 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 last quarter. CreativeOne Wealth LLC boosted its holdings in shares of American Tower by 2.1% during the fourth 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 grew its position in shares of American Tower by 4.2% during the third 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 increased its holdings in shares of American Tower by 4.7% in the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after acquiring an additional 58 shares during the period. Finally, Safe Harbor Fiduciary LLC lifted its position in American Tower by 1.1% in 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 during the last quarter. 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.