American Tower (NYSE:AMT) Price Target Raised to $220.00 at BMO Capital Markets

American Tower (NYSE:AMT) had its price objective raised by BMO Capital Markets from $210.00 to $220.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

Other analysts have also recently issued reports about the company. Wells Fargo & Company decreased their price objective on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Barclays decreased their price target on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Scotiabank decreased their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. Finally, Citizens Jmp upgraded American Tower to a “strong-buy” rating in a report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, American Tower currently has an average rating of “Moderate Buy” and a consensus target price of $225.21.

American Tower Stock Down 1.5 %

Shares of AMT opened at $200.75 on Wednesday. The stock has a market capitalization of $93.81 billion, a price-to-earnings ratio of 84.70, a price-to-earnings-growth ratio of 1.29 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 business’s 50 day simple moving average is $186.16 and its 200-day simple moving average is $206.96. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.83. The business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.29 EPS. As a group, equities analysts expect that American Tower will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Friday, December 27th. American Tower’s payout ratio is 273.42%.

Insider Activity

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On American Tower

Several institutional investors have recently made changes to their positions in the company. Glenview Trust co increased its stake in shares of American Tower by 0.8% during the fourth quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust’s stock valued at $1,294,000 after buying an additional 54 shares during the period. CreativeOne Wealth LLC increased its stake in shares of American Tower by 2.1% during the fourth quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust’s stock valued at $477,000 after buying an additional 54 shares during the period. Palumbo Wealth Management LLC increased its stake in shares of American Tower by 1.6% during the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock valued at $864,000 after buying an additional 57 shares during the period. Rehmann Capital Advisory Group grew its stake in American Tower by 4.2% in the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after purchasing an additional 58 shares during the last quarter. Finally, Precedent Wealth Partners LLC grew its stake in American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock valued at $235,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors 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.