American Tower (NYSE:AMT) Stock Price Expected to Rise, Scotiabank Analyst Says

American Tower (NYSE:AMT - Get Free Report) had its price objective increased by research analysts at Scotiabank from $220.00 to $234.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a "sector outperform" rating on the real estate investment trust's stock. Scotiabank's price objective would suggest a potential upside of 6.80% from the company's current price.

A number of other equities analysts also recently commented on AMT. Wells Fargo & Company upgraded American Tower from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $210.00 to $230.00 in a research note on Monday, March 17th. Hsbc Global Res raised American Tower to a "strong-buy" rating in a report on Thursday, February 27th. JMP Securities assumed coverage on shares of American Tower in a research report on Monday, January 27th. They issued an "outperform" rating and a $225.00 price target on the stock. Mizuho dropped their target price on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Finally, Barclays increased their price objective on American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $233.07.

American Tower Stock Down 1.6 %

NYSE AMT opened at $219.10 on Tuesday. The stock has a market cap of $102.42 billion, a PE ratio of 92.45, a P/E/G ratio of 1.29 and a beta of 0.87. The business has a 50 day moving average price of $208.90 and a two-hundred day moving average price of $202.22. American Tower has a fifty-two week low of $170.46 and a fifty-two week 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.

American Tower (NYSE:AMT - Get Free Report) last announced 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. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate 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 was up 3.7% on a year-over-year basis. During the same period last year, the firm earned $2.29 earnings per share. As a group, sell-side analysts predict that American Tower will post 10.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMT. Lowe Wealth Advisors LLC increased its position in shares of American Tower by 218.0% in the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after acquiring an additional 109 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new position in shares of American Tower in the fourth quarter valued at $29,000. Graney & King LLC acquired a new stake in shares of American Tower during the 4th quarter worth about $32,000. Roxbury Financial LLC acquired a new position in American Tower in the 4th quarter valued at about $32,000. Finally, City Holding Co. acquired a new position in shares of American Tower in the first quarter valued at approximately $39,000. 92.69% of the stock is owned by institutional investors and hedge funds.

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.

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