American Tower Corporation (REIT) (NYSE:AMT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.

According to Zacks, “Over the past three months, share price of American Tower grew 4%, as against the industry's loss of 1.5% . American Tower continues to benefit from increased investment of wireless carriers in 4G LTE and 5G networks. The company’s tower buyouts in emerging markets and long-term tower leases with major wireless carriers have driven its top line and lend it a competitive edge over rivals. American Tower’s Indian, EMEA and Latin American operations account for almost 50% of its organic core revenue growth. However, American Tower has a substantially leveraged balance sheet. High customer concentration is likely to affect the company’s top line. Expansion in the global market increases the company’s exposure to foreign currency exchange rate risks. Stiff competition, integration risks and rising operating expenses are other headwinds.”

A number of other research firms have also recently commented on AMT. Cowen and Company reissued a “buy” rating and set a $155.00 price target on shares of American Tower Corporation (REIT) in a report on Wednesday, July 19th. Citigroup Inc. lowered American Tower Corporation (REIT) to an “outperform” rating and set a $147.00 price objective for the company. in a research note on Monday, June 12th. BidaskClub lowered American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. Raymond James Financial, Inc. reiterated an “outperform” rating on shares of American Tower Corporation (REIT) in a research report on Monday, June 12th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating on shares of American Tower Corporation (REIT) in a research report on Wednesday, September 20th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. American Tower Corporation (REIT) has an average rating of “Buy” and an average price target of $148.58.

Shares of American Tower Corporation (NYSE:AMT) traded down 0.48% during midday trading on Monday, hitting $136.03. The company had a trading volume of 436,918 shares. The stock has a 50 day moving average price of $142.16 and a 200 day moving average price of $131.01. The firm has a market capitalization of $58.38 billion, a P/E ratio of 54.41 and a beta of 0.69. American Tower Corporation has a 1-year low of $99.72 and a 1-year high of $148.71.

American Tower Corporation (REIT) (NYSE:AMT) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.75). The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.64 billion. American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.38 EPS. On average, equities analysts anticipate that American Tower Corporation will post $3.02 EPS for the current fiscal year.

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In other American Tower Corporation (REIT) news, Chairman James D. Taiclet, Jr. sold 34,000 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $145.89, for a total transaction of $4,960,260.00. Following the completion of the transaction, the chairman now owns 304,707 shares in the company, valued at $44,453,704.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Amit Sharma sold 20,747 shares of the stock in a transaction on Friday, August 18th. The shares were sold at an average price of $139.67, for a total transaction of $2,897,733.49. Following the transaction, the executive vice president now owns 101,605 shares of the company’s stock, valued at approximately $14,191,170.35. The disclosure for this sale can be found here. Insiders sold 69,747 shares of company stock worth $9,954,943 in the last 90 days. 0.86% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Perpetual Ltd increased its holdings in shares of American Tower Corporation (REIT) by 2.5% in the 2nd quarter. Perpetual Ltd now owns 55,560 shares of the real estate investment trust’s stock worth $7,352,000 after buying an additional 1,360 shares during the last quarter. Intl Fcstone Inc. purchased a new stake in shares of American Tower Corporation (REIT) during the 2nd quarter valued at about $1,193,000. Gs Investments Inc. purchased a new stake in shares of American Tower Corporation (REIT) during the 2nd quarter valued at about $812,000. Brookfield Asset Management Inc. lifted its holdings in shares of American Tower Corporation (REIT) by 10.3% in the 2nd quarter. Brookfield Asset Management Inc. now owns 2,628,643 shares of the real estate investment trust’s stock valued at $347,822,000 after acquiring an additional 244,700 shares during the last quarter. Finally, Achmea Investment Management B.V. lifted its holdings in shares of American Tower Corporation (REIT) by 133.8% in the 2nd quarter. Achmea Investment Management B.V. now owns 21,522 shares of the real estate investment trust’s stock valued at $2,845,000 after acquiring an additional 12,315 shares during the last quarter. Hedge funds and other institutional investors own 92.07% of the company’s stock.

American Tower Corporation (REIT) Company Profile

American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

Analyst Recommendations for American Tower Corporation (REIT) (NYSE:AMT)

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