BMO Capital Markets Cuts American Tower (NYSE:AMT) Price Target to $245.00

American Tower (NYSE:AMT) had its price target lowered by BMO Capital Markets from $255.00 to $245.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

A number of other research analysts have also weighed in on the stock. Mizuho raised their price target on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. TD Cowen lifted their price target on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com raised American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Barclays lifted their target price on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. upped their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $235.85.

American Tower Trading Down 1.1 %

Shares of AMT stock opened at $211.26 on Wednesday. American Tower has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a market cap of $98.68 billion, a price-to-earnings ratio of 89.14, a PEG ratio of 1.49 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.81. The stock has a 50 day simple moving average of $228.14 and a 200-day simple moving average of $208.69.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.58 earnings per share. On average, equities research analysts expect that American Tower will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s payout ratio is 273.42%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Cultivar Capital Inc. acquired a new position in American Tower in the 2nd quarter valued at about $25,000. Fortitude Family Office LLC lifted its holdings in American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares in the last quarter. Fairscale Capital LLC purchased a new position in American Tower in the 2nd quarter valued at approximately $27,000. Hobbs Group Advisors LLC acquired a new position in shares of American Tower in the second quarter worth $29,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of American Tower during the third quarter worth $30,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.