American Tower Co. (REIT) (NYSE:AMT) has earned an average rating of “Buy” from the sixteen analysts that are covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $298.29.
Several equities analysts recently commented on AMT shares. Truist Securities raised their target price on American Tower from $280.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, July 30th. Morgan Stanley raised their price target on American Tower from $270.00 to $316.00 and gave the company an “equal weight” rating in a report on Friday, September 10th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft raised their price target on American Tower from $250.00 to $295.00 and gave the company a “hold” rating in a report on Thursday, July 8th. They noted that the move was a valuation call. Oppenheimer cut American Tower from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $305.00 to $300.00 in a report on Friday, September 10th. Finally, Truist raised their price target on American Tower from $280.00 to $315.00 and gave the company a “buy” rating in a report on Friday, July 30th.
Shares of NYSE AMT opened at $296.40 on Friday. American Tower has a 1-year low of $197.50 and a 1-year high of $303.72. The company has a debt-to-equity ratio of 4.83, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a fifty day moving average price of $286.28 and a 200 day moving average price of $260.52. The company has a market cap of $134.90 billion, a PE ratio of 59.76, a P/E/G ratio of 2.07 and a beta of 0.24.
In related news, Director David E. Sharbutt sold 739 shares of American Tower stock in a transaction dated Friday, September 3rd. The stock was sold at an average price of $300.71, for a total value of $222,224.69. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert D. Hormats sold 100 shares of American Tower stock in a transaction dated Tuesday, August 24th. The shares were sold at an average price of $289.49, for a total value of $28,949.00. Following the completion of the sale, the director now directly owns 6,340 shares in the company, valued at approximately $1,835,366.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,085 shares of company stock worth $2,552,330. Corporate insiders own 0.68% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of American Tower by 2.1% in the second quarter. Vanguard Group Inc. now owns 57,918,458 shares of the real estate investment trust’s stock valued at $15,646,092,000 after buying an additional 1,177,194 shares during the period. BlackRock Inc. lifted its stake in American Tower by 0.6% during the first quarter. BlackRock Inc. now owns 34,556,593 shares of the real estate investment trust’s stock worth $8,261,099,000 after purchasing an additional 208,020 shares during the last quarter. State Street Corp lifted its stake in shares of American Tower by 5.0% in the 2nd quarter. State Street Corp now owns 18,105,368 shares of the real estate investment trust’s stock valued at $4,913,452,000 after acquiring an additional 867,164 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of American Tower by 4.0% in the 2nd quarter. Geode Capital Management LLC now owns 8,358,961 shares of the real estate investment trust’s stock valued at $2,252,739,000 after acquiring an additional 320,233 shares during the last quarter. Finally, Cohen & Steers Inc. lifted its stake in shares of American Tower by 6.3% in the 1st quarter. Cohen & Steers Inc. now owns 8,164,876 shares of the real estate investment trust’s stock valued at $1,951,846,000 after acquiring an additional 487,466 shares during the last quarter. Institutional investors and hedge funds own 89.57% of the company’s stock.
American Tower Company Profile
American Tower Corp. provides real estate investment services, and owns, operates, and develops multitenant communications real estate properties. It operates through the following segments: U.S. & Canada, Asia-Pacific, Europe, Africa Latin America, and Services. The Asia-Pacific segment refers to the operations in Australia and India.
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