American Tower (NYSE:AMT) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

A number of other equities analysts also recently commented on AMT. Wells Fargo & Co upped their price objective on shares of American Tower from $150.00 to $158.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 3rd. Zacks Investment Research downgraded shares of American Tower from a “hold” rating to a “sell” rating in a research report on Friday, July 6th. Raymond James downgraded shares of American Tower from an “outperform” rating to a “market perform” rating in a research report on Monday, July 9th. JPMorgan Chase & Co. downgraded shares of American Tower from an “overweight” rating to a “neutral” rating and set a $150.00 price target for the company. in a report on Tuesday, July 10th. Finally, Guggenheim downgraded shares of American Tower from a “buy” rating to a “neutral” rating and set a $135.00 price target for the company. in a report on Monday, July 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. American Tower currently has an average rating of “Buy” and an average price target of $162.14.

Shares of American Tower stock opened at $142.05 on Thursday. The firm has a market cap of $64.05 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 1.55 and a beta of 0.80. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.99. American Tower has a one year low of $130.37 and a one year high of $155.28.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 31st. The real estate investment trust reported $0.69 EPS for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($1.04). The firm had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.75 billion. American Tower had a return on equity of 16.72% and a net margin of 16.34%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 EPS. On average, equities research analysts forecast that American Tower will post 7.1 earnings per share for the current year.

In related news, Director David E. Sharbutt sold 1,321 shares of the stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $150.48, for a total value of $198,784.08. Following the sale, the director now directly owns 4,781 shares of the company’s stock, valued at approximately $719,444.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman James D. Taiclet, Jr. sold 43,808 shares of the stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $150.65, for a total transaction of $6,599,675.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,281 shares of company stock worth $12,014,625. 0.87% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of American Tower by 8.9% during the 2nd quarter. BlackRock Inc. now owns 29,362,957 shares of the real estate investment trust’s stock worth $4,233,258,000 after purchasing an additional 2,410,425 shares during the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of American Tower in the second quarter worth approximately $155,992,000. Dimensional Fund Advisors LP raised its holdings in American Tower by 13.4% in the second quarter. Dimensional Fund Advisors LP now owns 6,032,192 shares of the real estate investment trust’s stock valued at $869,663,000 after buying an additional 713,894 shares during the period. Putnam Investments LLC raised its holdings in American Tower by 19.5% in the second quarter. Putnam Investments LLC now owns 2,710,662 shares of the real estate investment trust’s stock valued at $390,796,000 after buying an additional 441,479 shares during the period. Finally, Millennium Management LLC raised its holdings in American Tower by 55.8% in the first quarter. Millennium Management LLC now owns 1,229,304 shares of the real estate investment trust’s stock valued at $178,667,000 after buying an additional 440,299 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

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 approximately 170,000 communications sites.

See Also: Initial Public Offering (IPO)

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Analyst Recommendations for American Tower (NYSE:AMT)

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