Barclays Lowers American Tower (NYSE:AMT) Price Target to $215.00

American Tower (NYSE:AMT) had its target price decreased by analysts at Barclays from $251.00 to $215.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s target price would indicate a potential upside of 23.89% from the company’s current price.

Other equities analysts have also issued reports about the stock. BMO Capital Markets lowered their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Mizuho cut their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lifted their price target on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Finally, Scotiabank cut their target price on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average price target of $230.67.

American Tower Stock Down 3.2 %

Shares of AMT opened at $173.54 on Monday. The company’s 50-day simple moving average is $194.98 and its 200-day simple moving average is $211.92. The stock has a market capitalization of $81.09 billion, a PE ratio of 73.22, a P/E/G ratio of 1.31 and a beta of 0.84. American Tower has a 1 year low of $170.46 and a 1 year high of $243.56. 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 (NYSE:AMT) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period last year, the business earned $2.58 EPS. The firm’s revenue was down 10.5% compared to the same quarter last year. Analysts forecast that American Tower will post 10.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AMT. HBK Sorce Advisory LLC increased its stake in American Tower by 8.2% in the 2nd quarter. HBK Sorce Advisory LLC now owns 1,534 shares of the real estate investment trust’s stock worth $298,000 after purchasing an additional 116 shares in the last quarter. Thoroughbred Financial Services LLC acquired a new stake in American Tower during the 2nd quarter worth about $407,000. Bcwm LLC boosted its position in American Tower by 3.2% during the 2nd quarter. Bcwm LLC now owns 26,370 shares of the real estate investment trust’s stock worth $5,126,000 after acquiring an additional 822 shares during the period. Massachusetts Financial Services Co. MA boosted its position in American Tower by 16.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust’s stock worth $643,571,000 after acquiring an additional 464,429 shares during the period. Finally, One Capital Management LLC acquired a new stake in American Tower during the 2nd quarter worth about $1,763,000. 92.69% 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 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.