American Tower (NYSE:AMT) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of American Tower (NYSE:AMT) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their price objective on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Royal Bank of Canada increased their price target on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Scotiabank reduced their price objective on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday. Finally, Barclays raised their target price on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $235.85.

American Tower Stock Down 1.1 %

AMT stock opened at $211.26 on Wednesday. American Tower has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a market cap of $98.68 billion, a price-to-earnings ratio of 89.14, a P/E/G ratio of 1.49 and a beta of 0.84. The company has a quick ratio of 0.81, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The business has a 50 day moving average price of $228.14 and a two-hundred day moving average price of $208.69.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.58 earnings per share. Analysts anticipate that American Tower will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Wednesday, October 9th. American Tower’s payout ratio is currently 273.42%.

Institutional Investors Weigh In On American Tower

Several institutional investors and hedge funds have recently bought and sold shares of AMT. Ameriprise Financial Inc. raised its position in shares of American Tower by 41.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock valued at $1,243,333,000 after buying an additional 1,885,421 shares in the last quarter. Pathway Financial Advisers LLC increased its stake in American Tower by 23,224.1% in the third quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock valued at $231,941,000 after acquiring an additional 993,061 shares during the last quarter. Vanguard Group Inc. raised its position in American Tower by 1.6% during the first quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock valued at $12,248,812,000 after purchasing an additional 965,938 shares in the last quarter. M&G Plc bought a new stake in American Tower during the first quarter worth $164,300,000. Finally, International Assets Investment Management LLC boosted its holdings in shares of American Tower by 22,242.7% in the 3rd quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock valued at $1,811,330,000 after purchasing an additional 775,379 shares in the last quarter. 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.