American Tower (NYSE:AMT) Given New $234.00 Price Target at Scotiabank

American Tower (NYSE:AMT) had its price target hoisted by research analysts at Scotiabank from $220.00 to $234.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s target price would suggest a potential upside of 6.80% from the stock’s current price.

AMT has been the subject of a number of other reports. Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Barclays upped their price target on American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Morgan Stanley began coverage on American Tower in a research note on Tuesday, April 1st. They set an “overweight” rating and a $250.00 price objective on the stock. Finally, JMP Securities assumed coverage on American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target for the company. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, American Tower currently has an average rating of “Buy” and an average target price of $233.07.

American Tower Trading Down 1.6 %

Shares of AMT stock opened at $219.10 on Tuesday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a market cap of $102.42 billion, a PE ratio of 92.45, a P/E/G ratio of 1.29 and a beta of 0.87. The stock’s fifty day moving average price is $208.90 and its two-hundred day moving average price is $202.22.

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

Institutional Investors Weigh In On American Tower

Several hedge funds have recently bought and sold shares of AMT. Minot DeBlois Advisors LLC bought a new position in shares of American Tower during the 4th quarter valued at $29,000. Roxbury Financial LLC purchased a new position in shares of American Tower during the fourth quarter valued at about $32,000. Graney & King LLC bought a new position in shares of American Tower in the 4th quarter worth approximately $32,000. Lowe Wealth Advisors LLC raised its holdings in American Tower by 218.0% in the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 109 shares in the last quarter. Finally, Crowley Wealth Management Inc. purchased a new position in American Tower during the 4th quarter valued at about $37,000. 92.69% of the stock is currently owned by institutional investors.

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.