American Tower (AMT) PT Raised to $160.00 at Morgan Stanley
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.
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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