American Tower Corporation (REIT) (NYSE:AMT)‘s stock had its “buy” rating restated by research analysts at Cowen and Company in a report released on Wednesday, July 19th. They presently have a $155.00 price target on the real estate investment trust’s stock. Cowen and Company’s price objective points to a potential upside of 12.26% from the stock’s previous close.
Several other brokerages have also issued reports on AMT. Deutsche Bank AG lifted their price objective on shares of American Tower Corporation (REIT) from $145.00 to $157.00 and gave the company a “buy” rating in a report on Friday, July 14th. Royal Bank Of Canada lifted their price objective on shares of American Tower Corporation (REIT) from $134.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, April 28th. Zacks Investment Research lowered shares of American Tower Corporation (REIT) from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Stifel Nicolaus reissued a “buy” rating and set a $150.00 price objective on shares of American Tower Corporation (REIT) in a report on Thursday, July 6th. Finally, Guggenheim upgraded shares of American Tower Corporation (REIT) from a “neutral” rating to a “buy” rating and raised their target price for the company from $117.00 to $135.00 in a research note on Monday, April 10th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $142.67.
American Tower Corporation (NYSE AMT) opened at 138.07 on Wednesday. The company has a market capitalization of $59.26 billion, a P/E ratio of 55.23 and a beta of 0.71. American Tower Corporation has a 52 week low of $99.72 and a 52 week high of $139.50. The stock’s 50 day moving average price is $133.71 and its 200 day moving average price is $122.47.
American Tower Corporation (REIT) (NYSE:AMT) last issued its earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 EPS for the quarter, missing the Zacks’ consensus estimate of $1.55 by $0.75. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.64 billion. American Tower Corporation (REIT) had a return on equity of 16.70% and a net margin of 18.58%. The business’s revenue was up 15.3% compared to the same quarter last year. During the same period last year, the business posted $1.38 earnings per share. Analysts anticipate that American Tower Corporation will post $3.02 earnings per share for the current year.
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In other American Tower Corporation (REIT) news, EVP Amit Sharma sold 61,096 shares of American Tower Corporation (REIT) stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $126.57, for a total value of $7,732,920.72. Following the completion of the transaction, the executive vice president now owns 177,556 shares of the company’s stock, valued at $22,473,262.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steven C. Marshall sold 20,548 shares of American Tower Corporation (REIT) stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $134.92, for a total transaction of $2,772,336.16. The disclosure for this sale can be found here. Insiders sold 85,297 shares of company stock valued at $10,975,069 in the last ninety days. 0.86% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in AMT. BLB&B Advisors LLC boosted its stake in American Tower Corporation (REIT) by 27.5% in the first quarter. BLB&B Advisors LLC now owns 5,655 shares of the real estate investment trust’s stock worth $687,000 after buying an additional 1,220 shares in the last quarter. Acadian Asset Management LLC boosted its stake in American Tower Corporation (REIT) by 296.4% in the first quarter. Acadian Asset Management LLC now owns 4,761 shares of the real estate investment trust’s stock worth $579,000 after buying an additional 3,560 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in American Tower Corporation (REIT) by 19.9% in the first quarter. Janney Montgomery Scott LLC now owns 43,143 shares of the real estate investment trust’s stock worth $5,244,000 after buying an additional 7,152 shares in the last quarter. Telos Capital Management Inc. boosted its stake in American Tower Corporation (REIT) by 17.0% in the first quarter. Telos Capital Management Inc. now owns 13,033 shares of the real estate investment trust’s stock worth $1,584,000 after buying an additional 1,897 shares in the last quarter. Finally, Cullinan Associates Inc. boosted its stake in American Tower Corporation (REIT) by 8.1% in the first quarter. Cullinan Associates Inc. now owns 38,360 shares of the real estate investment trust’s stock worth $4,662,000 after buying an additional 2,880 shares in the last quarter. 93.40% of the stock is owned by institutional investors and hedge funds.
About American Tower Corporation (REIT)
American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.
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