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.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 31st. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by ($1.04). The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.75 billion. American Tower had a net margin of 16.34% and a return on equity of 16.72%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm earned $1.58 EPS. analysts predict that American Tower will post 7.1 EPS for the current fiscal year.

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.

Further Reading: What kind of dividend yield to CEF’s pay?

Analyst Recommendations for American Tower (NYSE:AMT)

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.