American Tower (AMT) Given New $165.00 Price Target at Argus
American Tower (NYSE:AMT) had its target price lifted by analysts at Argus from $154.00 to $165.00 in a research report issued to clients and investors on Monday. The firm currently has a “buy” rating on the real estate investment trust’s stock. Argus’ price objective points to a potential upside of 9.23% from the stock’s previous close.
AMT has been the subject of several other research reports. JPMorgan Chase & Co. cut American Tower from an “overweight” rating to a “neutral” rating and set a $150.00 price objective for the company. in a report on Tuesday, July 10th. Zacks Investment Research cut American Tower from a “hold” rating to a “sell” rating in a report on Friday, July 6th. Morgan Stanley boosted their price objective on American Tower from $154.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday. ValuEngine cut American Tower from a “buy” rating to a “hold” rating in a report on Friday, April 27th. Finally, SunTrust Banks reissued a “buy” rating and issued a $167.00 price objective on shares of American Tower in a report on Friday, July 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $161.63.
AMT traded down $0.11 on Monday, reaching $151.06. 47,212 shares of the stock were exchanged, compared to its average volume of 2,362,795. American Tower has a fifty-two week low of $130.37 and a fifty-two week high of $155.28. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market cap of $65.76 billion, a P/E ratio of 23.67, a P/E/G ratio of 1.59 and a beta of 0.83.
In other American Tower news, Director Pamela D. A. Reeve sold 7,152 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $148.92, for a total transaction of $1,065,075.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Edmund Disanto sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $149.53, for a total value of $2,242,950.00. The disclosure for this sale can be found here. Insiders sold a total of 198,810 shares of company stock valued at $28,393,839 in the last ninety days. 0.87% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the business. Alexandria Capital LLC increased its stake in American Tower by 3.6% during the 1st quarter. Alexandria Capital LLC now owns 37,584 shares of the real estate investment trust’s stock worth $5,463,000 after buying an additional 1,302 shares in the last quarter. Greystone Managed Investments Inc. increased its stake in American Tower by 1.4% during the 2nd quarter. Greystone Managed Investments Inc. now owns 77,712 shares of the real estate investment trust’s stock worth $11,204,000 after buying an additional 1,108 shares in the last quarter. Hermes Investment Management Ltd. increased its stake in American Tower by 2.6% during the 2nd quarter. Hermes Investment Management Ltd. now owns 428,455 shares of the real estate investment trust’s stock worth $61,770,000 after buying an additional 10,865 shares in the last quarter. Beaumont Financial Partners LLC increased its stake in American Tower by 48.4% during the 1st quarter. Beaumont Financial Partners LLC now owns 4,554 shares of the real estate investment trust’s stock worth $662,000 after buying an additional 1,485 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of American Tower by 18.1% in the first quarter. Hsbc Holdings PLC now owns 455,828 shares of the real estate investment trust’s stock valued at $66,250,000 after purchasing an additional 69,800 shares in the last quarter. Institutional investors own 92.20% 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 160,000 communications sites. For more information about American Tower, please visit the ?Earnings Materials? and ?Company & Industry Resources? sections of our investor relations website at www.americantower.com.
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