American Tower (NYSE:AMT) Given New $223.00 Price Target at Barclays

American Tower (NYSE:AMT - Get Free Report) had its target price raised by equities research analysts at Barclays from $214.00 to $223.00 in a report released on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the real estate investment trust's stock. Barclays's price objective points to a potential upside of 5.78% from the stock's current price.

Several other equities analysts have also commented on AMT. The Goldman Sachs Group lowered their price objective on shares of American Tower from $260.00 to $234.00 and set a "buy" rating for the company in a research report on Thursday, December 12th. BMO Capital Markets lifted their price target on American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Mizuho decreased their price objective on American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Citigroup increased their price target on American Tower from $220.00 to $235.00 and gave the company a "buy" rating in a report on Monday, March 10th. Finally, Morgan Stanley reduced their target price on shares of American Tower from $219.00 to $213.00 and set an "equal weight" rating on the stock in a research note on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $229.43.

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American Tower Price Performance

Shares of AMT traded down $2.00 during mid-day trading on Friday, reaching $210.81. The stock had a trading volume of 1,200,166 shares, compared to its average volume of 2,268,344. American Tower has a 12 month low of $170.46 and a 12 month 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. The firm has a market cap of $98.54 billion, a price-to-earnings ratio of 88.92, a PEG ratio of 1.29 and a beta of 0.85. The business has a fifty day moving average of $196.71 and a 200 day moving average of $205.10.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.55 billion during the quarter, compared to analysts' expectations of $2.51 billion. During the same period last year, the company posted $2.29 earnings per share. American Tower's quarterly revenue was up 3.7% on a year-over-year basis. Equities analysts predict that American Tower will post 10.14 EPS for the current year.

Insider Activity

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

Institutional Trading of American Tower

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Glenview Trust co raised its stake in American Tower by 0.8% in 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 last quarter. CreativeOne Wealth LLC boosted its stake in American Tower by 2.1% in the 4th quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock worth $477,000 after purchasing an additional 54 shares in the last quarter. Rehmann Capital Advisory Group grew its position in American Tower by 4.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust's stock worth $332,000 after purchasing an additional 58 shares during the last quarter. Precedent Wealth Partners LLC increased its stake in American Tower by 4.7% during the 4th 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 in the last quarter. Finally, Safe Harbor Fiduciary LLC lifted its stake in shares of American Tower by 1.1% during the fourth quarter. Safe Harbor Fiduciary LLC now owns 5,330 shares of the real estate investment trust's stock worth $978,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

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.