American Tower (AMT) Lowered to Neutral at Moffett Nathanson

Moffett Nathanson cut shares of American Tower (NYSE:AMT) from a buy rating to a neutral rating in a research report sent to investors on Monday morning, MarketBeat Ratings reports. The firm currently has $164.00 target price on the real estate investment trust’s stock.

AMT has been the topic of a number of other reports. Royal Bank of Canada upped their target price on shares of American Tower to $173.00 and gave the stock an outperform rating in a research note on Thursday, November 1st. Bank of America set a $172.00 price target on shares of American Tower and gave the company a buy rating in a research note on Wednesday, October 31st. Zacks Investment Research lowered shares of American Tower from a hold rating to a sell rating in a research note on Wednesday, October 10th. Deutsche Bank lowered shares of American Tower from a buy rating to a hold rating and dropped their price target for the company from $169.00 to $167.00 in a research note on Thursday, November 1st. They noted that the move was a valuation call. Finally, Wells Fargo & Co increased their price target on shares of American Tower from $173.00 to $176.00 and gave the company an outperform rating in a research note on Friday, November 16th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. American Tower presently has a consensus rating of Buy and an average target price of $165.31.

AMT stock opened at $163.08 on Monday. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.72 and a current ratio of 0.72. American Tower has a fifty-two week low of $130.37 and a fifty-two week high of $167.09. The company has a market cap of $72.46 billion, a P/E ratio of 25.56, a PEG ratio of 1.59 and a beta of 0.62.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 30th. The real estate investment trust reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.02. American Tower had a net margin of 17.07% and a return on equity of 18.55%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the firm earned $1.73 earnings per share. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. Analysts anticipate that American Tower will post 7.58 EPS for the current year.

In other news, SVP Robert Joseph Meyer, Jr. sold 44,959 shares of the stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $156.43, for a total value of $7,032,936.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Edmund Disanto sold 13,000 shares of the stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $146.78, for a total value of $1,908,140.00. Following the completion of the sale, the executive vice president now directly owns 160,021 shares of the company’s stock, valued at $23,487,882.38. The disclosure for this sale can be found here. Insiders sold 351,360 shares of company stock worth $55,867,093 over the last quarter. 0.87% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the company. Mount Yale Investment Advisors LLC boosted its holdings in shares of American Tower by 354.4% in the second quarter. Mount Yale Investment Advisors LLC now owns 718 shares of the real estate investment trust’s stock valued at $104,000 after acquiring an additional 560 shares during the period. TLP Group LLC acquired a new stake in shares of American Tower in the third quarter valued at approximately $113,000. Point72 Hong Kong Ltd acquired a new stake in shares of American Tower in the third quarter valued at approximately $142,000. Valeo Financial Advisors LLC boosted its holdings in shares of American Tower by 75.0% in the second quarter. Valeo Financial Advisors LLC now owns 1,029 shares of the real estate investment trust’s stock valued at $153,000 after acquiring an additional 441 shares during the period. Finally, Ancora Advisors LLC acquired a new stake in shares of American Tower in the third quarter valued at approximately $157,000. 93.25% 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 170,000 communications sites.

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Analyst Recommendations for American Tower (NYSE:AMT)

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