American Tower (NYSE:AMT – Get Free Report) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.
A number of other equities analysts have also weighed in on the company. Citigroup lowered their target price on American Tower from $230.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, October 17th. Wells Fargo & Company reduced their target price on American Tower from $215.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday, October 17th. Scotiabank started coverage on American Tower in a report on Friday, October 13th. They issued a “sector outperform” rating and a $208.00 target price on the stock. JPMorgan Chase & Co. raised their target price on American Tower from $218.00 to $236.00 and gave the company an “overweight” rating in a report on Tuesday, November 7th. Finally, Morgan Stanley cut their price objective on American Tower from $212.00 to $169.00 and set an “equal weight” rating on the stock in a report on Monday, October 16th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $221.85.
American Tower Stock Performance
AMT opened at $204.95 on Thursday. American Tower has a 12-month low of $154.58 and a 12-month high of $235.49. The stock has a market cap of $95.54 billion, a price-to-earnings ratio of 133.96, a PEG ratio of 1.59 and a beta of 0.70. The business has a 50 day moving average of $207.04 and a 200-day moving average of $188.52. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 3.15.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. BCK Partners Inc. purchased a new stake in American Tower in the 1st quarter valued at about $2,892,000. Fairfield Bush & CO. boosted its holdings in American Tower by 138.9% during the first quarter. Fairfield Bush & CO. now owns 2,829 shares of the real estate investment trust’s stock worth $711,000 after buying an additional 1,645 shares in the last quarter. Cetera Investment Advisers lifted its holdings in American Tower by 5.7% during the first quarter. Cetera Investment Advisers now owns 14,413 shares of the real estate investment trust’s stock valued at $3,621,000 after purchasing an additional 771 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in American Tower by 33.5% during the first quarter. Sequoia Financial Advisors LLC now owns 3,015 shares of the real estate investment trust’s stock valued at $757,000 after purchasing an additional 756 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in American Tower by 1.4% during the first quarter. Loomis Sayles & Co. L P now owns 152,723 shares of the real estate investment trust’s stock valued at $38,367,000 after purchasing an additional 2,071 shares in the last quarter. Hedge funds and other institutional investors own 89.29% 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 nearly 225,000 communications sites and a highly interconnected footprint of U.S. data center facilities.