Hsbc Global Res Upgrades American Tower (NYSE:AMT) to Strong-Buy

American Tower (NYSE:AMT - Get Free Report) was upgraded by stock analysts at Hsbc Global Res to a "strong-buy" rating in a report issued on Thursday,Zacks.com reports.

Several other analysts also recently issued reports on AMT. Wells Fargo & Company decreased their price objective on shares of American Tower from $215.00 to $195.00 and set an "equal weight" rating for the company in a report on Thursday, January 23rd. Citizens Jmp raised American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Barclays lowered their price objective on shares of American Tower from $215.00 to $214.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. StockNews.com cut American Tower from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. Finally, Citigroup lowered their price objective on American Tower from $255.00 to $220.00 and set a "buy" rating on the stock in a research report on Friday, February 14th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $225.21.

American Tower Stock Up 0.9 %

Shares of American Tower stock traded up $1.89 during midday trading on Thursday, reaching $209.01. 1,969,506 shares of the company's stock traded hands, compared to its average volume of 2,220,899. The company has a market cap of $97.67 billion, a price-to-earnings ratio of 88.19, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. American Tower has a 52 week low of $170.46 and a 52 week high of $243.56. The company's 50 day simple moving average is $188.05 and its 200 day simple moving average is $206.43. 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 - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the prior year, the firm posted $2.29 EPS. The firm's revenue for the quarter was up 3.7% on a year-over-year basis. Equities analysts expect that American Tower will post 10.14 earnings per share for the current fiscal year.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares of the company's stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On American Tower

A number of large investors have recently modified their holdings of AMT. Norges Bank acquired a new position in American Tower during the 4th quarter worth $1,164,851,000. Cohen & Steers Inc. lifted its stake in shares of American Tower by 21.8% during the fourth quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock valued at $3,516,890,000 after acquiring an additional 3,437,602 shares during the period. Capital Research Global Investors boosted its holdings in American Tower by 66.5% in the fourth quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock valued at $1,570,547,000 after acquiring an additional 3,421,413 shares during the last quarter. Capital World Investors increased its position in American Tower by 160.6% in the fourth quarter. Capital World Investors now owns 4,920,100 shares of the real estate investment trust's stock worth $902,396,000 after purchasing an additional 3,032,005 shares during the period. Finally, FMR LLC raised its holdings 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 worth $2,474,934,000 after purchasing an additional 2,152,646 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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.