Citigroup Forecasts Strong Price Appreciation for American Tower (NYSE:AMT) Stock

American Tower (NYSE:AMT) had its price target lifted by analysts at Citigroup from $220.00 to $235.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Citigroup’s price objective would suggest a potential upside of 9.04% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the stock. BMO Capital Markets increased their target price on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Mizuho decreased their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. JMP Securities started coverage on shares of American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective for the company. Hsbc Global Res raised shares of American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Finally, The Goldman Sachs Group lowered their target price on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $226.29.

American Tower Trading Up 1.5 %

NYSE AMT traded up $3.22 on Monday, hitting $215.51. 2,110,353 shares of the company were exchanged, compared to its average volume of 2,365,482. American Tower has a twelve month low of $170.46 and a twelve month high of $243.56. The company’s 50 day moving average price is $189.60 and its 200-day moving average price is $206.21. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market capitalization of $100.74 billion, a P/E ratio of 90.93, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last announced 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. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the prior year, the business earned $2.29 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts predict that American Tower will post 10.14 earnings per share for the current fiscal year.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Capstone Triton Financial Group LLC grew its position in American Tower by 1.2% during the 4th quarter. Capstone Triton Financial Group LLC now owns 6,715 shares of the real estate investment trust’s stock valued at $1,232,000 after purchasing an additional 81 shares during the last quarter. Phocas Financial Corp. bought a new position in shares of American Tower in the fourth quarter worth about $349,000. Probity Advisors Inc. boosted its holdings in American Tower by 4.6% in the 4th quarter. Probity Advisors Inc. now owns 2,090 shares of the real estate investment trust’s stock worth $383,000 after buying an additional 91 shares during the period. Copley Financial Group Inc. grew its position in American Tower by 4.8% in the fourth quarter. Copley Financial Group Inc. now owns 2,182 shares of the real estate investment trust’s stock worth $400,000 after acquiring an additional 99 shares in the last quarter. Finally, Siemens Fonds Invest GmbH increased its position in shares of American Tower by 7.3% during the 4th quarter. Siemens Fonds Invest GmbH now owns 21,425 shares of the real estate investment trust’s stock valued at $3,898,000 after purchasing an additional 1,453 shares during the last quarter. 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.