American Tower (NYSE:AMT) had its price target raised by Morgan Stanley from $154.00 to $160.00 in a research report sent to investors on Thursday. Morgan Stanley currently has an overweight rating on the real estate investment trust’s stock.

A number of other brokerages have also recently commented on AMT. Guggenheim cut American Tower from a buy rating to a neutral rating and set a $135.00 target price for the company. in a report on Monday, July 16th. Oppenheimer lifted their price objective on American Tower from $167.00 to $160.00 and gave the company an outperform rating in a research note on Wednesday, August 1st. Zacks Investment Research cut American Tower from a hold rating to a sell rating in a research note on Friday, April 20th. Deutsche Bank lifted their price objective on American Tower from $155.00 to $169.00 and gave the company a buy rating in a research note on Wednesday, August 1st. Finally, ValuEngine cut American Tower from a buy rating to a hold rating in a research note on Friday, April 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company. American Tower has a consensus rating of Buy and a consensus price target of $161.94.

Shares of American Tower stock opened at $151.17 on Thursday. American Tower has a 12 month low of $130.37 and a 12 month high of $155.28. The stock has a market cap of $65.76 billion, a P/E ratio of 23.69, a PEG ratio of 1.59 and a beta of 0.83. The company has a debt-to-equity ratio of 2.99, a current ratio of 0.66 and a quick ratio of 0.66.

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

In related news, Director David E. Sharbutt sold 1,321 shares of the business’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $150.48, for a total transaction of $198,784.08. Following the completion of the sale, the director now owns 4,781 shares in the company, valued at $719,444.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James D. Taiclet, Jr. sold 43,843 shares of the business’s stock in a transaction that occurred on Tuesday, May 29th. The stock was sold at an average price of $135.53, for a total value of $5,942,041.79. Following the sale, the chief executive officer now owns 223,227 shares of the company’s stock, valued at approximately $30,253,955.31. 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 quarter. Company insiders own 0.87% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Kaizen Advisory LLC lifted its stake in American Tower by 140.6% during the second quarter. Kaizen Advisory LLC now owns 1,008 shares of the real estate investment trust’s stock worth $145,000 after purchasing an additional 589 shares during the last quarter. Valeo Financial Advisors LLC lifted its stake in American Tower by 75.0% during the second quarter. Valeo Financial Advisors LLC now owns 1,029 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 441 shares during the last quarter. Sun Life Financial INC lifted its stake in American Tower by 311.3% during the second quarter. Sun Life Financial INC now owns 1,197 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 906 shares during the last quarter. RMR Advisors LLC purchased a new stake in American Tower during the second quarter worth approximately $173,000. Finally, Signaturefd LLC purchased a new stake in American Tower during the first quarter worth approximately $182,000. Hedge funds and other 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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Analyst Recommendations for American Tower (NYSE:AMT)

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