American Tower (NYSE:AMT) Now Covered by JMP Securities

Analysts at JMP Securities assumed coverage on shares of American Tower (NYSE:AMT) in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $225.00 price target on the real estate investment trust’s stock. JMP Securities’ price target indicates a potential upside of 21.51% from the company’s previous close.

AMT has been the topic of several other research reports. Mizuho cut their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Scotiabank decreased their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday. The Goldman Sachs Group dropped their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Barclays reduced their price target on American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, BMO Capital Markets dropped their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $226.31.

American Tower Trading Down 0.7 %

NYSE AMT opened at $185.17 on Monday. The stock’s 50-day simple moving average is $192.08 and its two-hundred day simple moving average is $211.24. American Tower has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a market capitalization of $86.53 billion, a price-to-earnings ratio of 78.13, a PEG ratio of 1.24 and a beta of 0.84.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the prior year, the company earned $2.58 EPS. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. Research analysts forecast that American Tower will post 10.15 EPS for the current fiscal year.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower 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 completion of the transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On American Tower

Several institutional investors and hedge funds have recently modified their holdings of AMT. FMR LLC increased its stake in American Tower by 25.4% during the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after purchasing an additional 2,152,646 shares in the last quarter. Adelante Capital Management LLC grew its holdings in shares of American Tower by 2,723.4% during the third quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock valued at $279,890,000 after buying an additional 1,160,890 shares during the last quarter. Pathway Financial Advisers LLC increased its position in shares of American Tower by 23,224.1% during the third quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock valued at $231,941,000 after acquiring an additional 993,061 shares in the last quarter. International Assets Investment Management LLC raised its holdings in American Tower by 22,242.7% in the 3rd quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock worth $1,811,330,000 after acquiring an additional 775,379 shares during the last quarter. Finally, State Street Corp lifted its position in American Tower by 3.1% in the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after acquiring an additional 635,726 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

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.