Jefferies Financial Group Issues Positive Forecast for American Tower (NYSE:AMT) Stock Price

American Tower (NYSE:AMT) had its price target lifted by Jefferies Financial Group from $200.00 to $209.00 in a note issued to investors on Thursday,MarketScreener reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Jefferies Financial Group’s target price indicates a potential upside of 11.25% from the stock’s previous close.

Several other analysts have also recently commented on AMT. Citigroup restated a “market outperform” rating on shares of American Tower in a report on Wednesday, October 29th. New Street Research upgraded shares of American Tower from a “neutral” rating to a “buy” rating and set a $203.00 target price for the company in a research note on Monday, January 5th. Royal Bank Of Canada dropped their price target on shares of American Tower from $220.00 to $195.00 and set a “sector perform” rating on the stock in a research note on Monday, January 12th. Mizuho decreased their price objective on shares of American Tower from $217.00 to $189.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. Finally, Argus set a $210.00 target price on American Tower in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $218.00.

American Tower Price Performance

American Tower stock traded up $2.86 during mid-day trading on Thursday, reaching $187.87. The company had a trading volume of 108,415 shares, compared to its average volume of 3,132,021. The stock’s 50-day simple moving average is $178.72 and its 200-day simple moving average is $185.76. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.60 and a quick ratio of 0.89. The company has a market capitalization of $87.95 billion, a P/E ratio of 34.89, a P/E/G ratio of 0.82 and a beta of 0.93. American Tower has a 1 year low of $166.88 and a 1 year high of $234.33.

Insider Activity

In other American Tower news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total value of $159,631,314.75. Following the transaction, the insider owned 211,379 shares in the company, valued at $14,743,685.25. The trade was a 91.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.17% of the stock is owned by company insiders.

Institutional Trading of American Tower

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMT. Brighton Jones LLC raised its holdings in shares of American Tower by 113.0% in the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after buying an additional 2,104 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in American Tower by 34.3% in the second quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock valued at $319,000 after purchasing an additional 368 shares during the last quarter. United Bank lifted its stake in American Tower by 12.7% in the second quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock valued at $1,434,000 after buying an additional 733 shares during the period. Jennison Associates LLC boosted its holdings in American Tower by 59.0% during the second quarter. Jennison Associates LLC now owns 83,801 shares of the real estate investment trust’s stock worth $18,522,000 after buying an additional 31,107 shares during the last quarter. Finally, Premier Path Wealth Partners LLC grew its position in shares of American Tower by 15.5% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 4,086 shares of the real estate investment trust’s stock worth $903,000 after buying an additional 548 shares during the period. Institutional investors own 92.69% of the company’s stock.

About American Tower

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.