BMO Capital Markets Has Lowered Expectations for American Tower (NYSE:AMT) Stock Price

American Tower (NYSE:AMT) had its price target decreased by equities researchers at BMO Capital Markets from $255.00 to $245.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. BMO Capital Markets’ target price points to a potential upside of 13.88% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the stock. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Barclays raised their price target on shares of American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. StockNews.com upgraded American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Mizuho raised their target price on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and an average price target of $236.77.

American Tower Price Performance

Shares of AMT stock traded up $2.22 during mid-day trading on Wednesday, hitting $215.13. 563,250 shares of the stock were exchanged, compared to its average volume of 2,268,436. American Tower has a 52-week low of $170.46 and a 52-week high of $243.56. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. The company has a market cap of $100.48 billion, a PE ratio of 40.35, a price-to-earnings-growth ratio of 1.09 and a beta of 0.83. The firm has a fifty day moving average of $228.70 and a 200 day moving average of $208.39.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.58 EPS. Research analysts anticipate that American Tower will post 10.08 earnings per share for the current year.

Insiders Place Their Bets

In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the sale, the chief executive officer now owns 61,843 shares of the company’s stock, valued at $14,223,890. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the sale, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total value of $508,020.33. Following the completion of the sale, the chief accounting officer now owns 31,873 shares in the company, valued at approximately $7,424,177.89. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,723 shares of company stock valued at $7,795,397 over the last 90 days. 0.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of 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 worth $12,248,812,000 after acquiring an additional 965,938 shares during the last quarter. Ameriprise Financial Inc. grew its position in American Tower by 41.8% during the 2nd 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. Clearbridge Investments LLC increased its stake in American Tower by 8.9% in the second quarter. Clearbridge Investments LLC now owns 3,705,145 shares of the real estate investment trust’s stock valued at $720,206,000 after purchasing an additional 302,676 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of American Tower by 16.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust’s stock valued at $643,571,000 after buying an additional 464,429 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of American Tower by 0.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,630,644 shares of the real estate investment trust’s stock worth $315,868,000 after buying an additional 6,193 shares during the last quarter. Institutional investors and hedge funds 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.