American Tower (NYSE: AMT) Target price reduced to $ 250.00 by Royal Bank of Canada analysts
American Tower (NYSE: AMT) saw its price target lowered by Royal Bank of Canada stock researchers from $ 275.00 to $ 250.00 in a research note issued to investors on Monday, Fly reports. The brokerage firm currently has an “outperformance” rating on the shares of the REIT. The Royal Bank of Canada’s price target would suggest a potential rise of 25.00% from the company’s current price. Analysts noted the move was a valuation call.
Several other research companies have also weighed in on AMT recently. Cowen lowered his price target on American Tower from $ 334.00 to $ 324.00 and set an “outperform” rating on the stock in a Friday February 26 report. Deutsche Bank Aktiengesellschaft downgraded American Tower from a ‘buy’ rating to a ‘maintain’ rating and cut its share price target from $ 295.00 to $ 245.00 in a Friday report December 11. Raymond James reduced his price target on American Tower from $ 258.00 to $ 244.00 and established an “outperform” rating on the stock in a report Thursday. Zacks investment research reduced American Tower from a “buy” rating to a “maintain” rating and set a target price of $ 227.00 on the stock. in a Tuesday March 2 report. Finally, Credit Suisse Group lowered its price target on the American Tower from $ 307.00 to $ 296.00 and set an “outperform” rating on the stock in a report Thursday. Four investment analysts rated the stock with a sustaining rating and ten gave the company’s stock a buy rating. American Tower has a consensus rating of “Buy” and a consensus target price of $ 270.09.
NYSE AMT shares opened at $ 200.00 on Monday. The company has a current ratio of 1.35, a rapid ratio of 1.35 and a debt ratio of 5.73. The company has a market cap of $ 88.88 billion, a price / earnings ratio of 47.28, a PEG ratio of 1.57 and a beta of 0.25. American Tower has a 12-month low of $ 174.32 and a 12-month high of $ 272.20. The stock has a 50-day moving average price of $ 224.54 and a two-hundred-day moving average price of $ 233.06.
American Tower (NYSE: AMT) last released its results on Wednesday, February 24. The REIT reported EPS of $ 0.82 for the quarter, missing the Thomson Reuters consensus estimate of $ 1.27 of ($ 0.45). The company posted revenue of $ 2.12 billion for the quarter, compared to analysts’ estimates of $ 2.07 billion. American Tower recorded a return on equity of 42.42% and a net margin of 24.08%. The company’s turnover increased by 10.3% compared to the same quarter last year. During the same period of the previous year, the company posted EPS of $ 1.95. On average, analysts on the sell side predict that American Tower will post 8.16 earnings per share for the current year.
In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 1,100 shares of the stock in a trade that took place on Thursday, December 10. The stock was sold for an average price of $ 220.21, for a total trade of $ 242,231.00. The transaction was disclosed in a legal deposit with the SEC, available through this hyperlink. In addition, the EVP Olivier Puech sold 320 shares of the title in a transaction that took place on Friday, January 8. The stock was sold for an average price of $ 220.00, for a total value of $ 70,400.00. Following the transaction, the Executive Vice President now owns 17,146 shares of the company, valued at $ 3,772,120. Disclosure of this sale can be found here. Insiders sold 3,448 shares valued at $ 771,029 during the last quarter. 0.65% of the shares are currently held by insiders of the company.
Several institutional investors have recently bought and sold shares in the company. Tiemann Investment Advisors LLC increased its holdings of American Tower shares by 2.3% during the 3rd quarter. Tiemann Investment Advisors LLC now owns 1,950 real estate investment trust shares worth $ 471,000 after purchasing 44 additional shares in the last quarter. Motco raised its position in American Tower shares by 3.4% in the fourth quarter. Motco now owns 1,371 real estate investment trust shares worth $ 308,000 after purchasing 45 additional shares during the period. People’s United Financial Inc. increased its position in American Tower shares by 2.8% in the fourth quarter. People’s United Financial Inc. now owns 1,700 real estate investment trust shares worth $ 382,000 after purchasing 46 additional shares during the period. Glenview Trust Co increased its position in American Tower shares by 3.7% in the fourth quarter. Glenview Trust Co now owns 1,312 real estate investment trust shares valued at $ 295,000 after purchasing 47 additional shares during the period. Finally, Glassman Wealth Services increased its position in American Tower shares by 4.9% in the third quarter. Glassman Wealth Services now owns 1,020 real estate investment trust shares worth $ 247,000 after purchasing 48 additional shares during the period. Hedge funds and other institutional investors hold 89.97% of the company’s shares.
About American Tower
American Tower, one of the world’s largest real estate investment firms, is a leading independent owner, operator and developer of shared communications buildings with a portfolio of approximately 181,000 communications sites.
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