Mizuho Cuts American Tower (NYSE:AMT) Price Target to $204.00

American Tower (NYSE:AMT - Get Free Report) had its target price cut by analysts at Mizuho from $221.00 to $204.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. Mizuho's target price would indicate a potential upside of 13.87% from the stock's current price.

A number of other research firms have also commented on AMT. JPMorgan Chase & Co. boosted their price target on shares of American Tower from $240.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, September 23rd. The Goldman Sachs Group decreased their target price on American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a research note on Thursday, December 12th. Wells Fargo & Company downgraded American Tower from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Scotiabank lowered their target price on shares of American Tower from $248.00 to $236.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, October 30th. Finally, StockNews.com cut shares of American Tower from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $233.67.

American Tower Stock Performance

Shares of NYSE AMT traded up $1.98 during mid-day trading on Wednesday, hitting $179.15. The company had a trading volume of 2,048,328 shares, compared to its average volume of 2,273,423. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower has a 1 year low of $170.46 and a 1 year high of $243.56. The company has a market capitalization of $83.71 billion, a price-to-earnings ratio of 75.59, a P/E/G ratio of 1.31 and a beta of 0.84. The stock's 50-day moving average price is $196.42 and its 200-day moving average price is $212.04.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the company earned $2.58 earnings per share. The company's quarterly revenue was down 10.5% on a year-over-year basis. On average, sell-side analysts forecast that American Tower will post 10.08 earnings per share for the current year.

Institutional Trading of American Tower

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp raised its holdings in American Tower by 3.1% during 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 buying an additional 635,726 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of American Tower by 1.9% during the third quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust's stock valued at $2,599,074,000 after acquiring an additional 204,426 shares during the last quarter. FMR LLC boosted its holdings in shares of American Tower by 25.4% during the third 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 period. Ameriprise Financial Inc. grew its stake in shares of American Tower by 41.8% in the second quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust's stock worth $1,243,333,000 after purchasing an additional 1,885,421 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in American Tower by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust's stock valued at $1,211,397,000 after purchasing an additional 243,061 shares during the period. 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.