American Tower (NYSE:AMT) Price Target Raised to $235.00

American Tower (NYSE:AMT) had its target price upped by Citigroup from $220.00 to $235.00 in a report released on Monday,Benzinga reports. The firm currently has a buy rating on the real estate investment trust’s stock.

A number of other equities research analysts have also issued reports on the company. Mizuho cut their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company cut their price objective on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Barclays cut their price objective on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. BMO Capital Markets raised their price objective on American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Finally, Hsbc Global Res upgraded American Tower to a “strong-buy” rating in a research report on Thursday, February 27th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average price target of $226.29.

American Tower Trading Down 1.5 %

Shares of AMT stock opened at $206.67 on Monday. American Tower has a 52-week low of $170.46 and a 52-week high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $96.61 billion, a PE ratio of 87.20, a PEG ratio of 1.29 and a beta of 0.85. The stock has a fifty day simple moving average of $191.23 and a two-hundred day simple moving average of $206.05.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the prior year, the business posted $2.29 EPS. American Tower’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts predict that American Tower will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be issued a $1.70 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.29%. American Tower’s dividend payout ratio (DPR) is presently 141.37%.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by insiders.

Institutional Trading of American Tower

Several institutional investors have recently added to or reduced their stakes in AMT. Capstone Triton Financial Group LLC increased its position in shares of American Tower by 1.2% during the fourth quarter. Capstone Triton Financial Group LLC now owns 6,715 shares of the real estate investment trust’s stock worth $1,232,000 after acquiring an additional 81 shares during the period. Phocas Financial Corp. purchased a new position in shares of American Tower during the fourth quarter worth approximately $349,000. Probity Advisors Inc. increased its position in shares of American Tower by 4.6% during the fourth quarter. Probity Advisors Inc. now owns 2,090 shares of the real estate investment trust’s stock worth $383,000 after acquiring an additional 91 shares during the period. Copley Financial Group Inc. increased its position in shares of American Tower by 4.8% during the fourth quarter. Copley Financial Group Inc. now owns 2,182 shares of the real estate investment trust’s stock worth $400,000 after acquiring an additional 99 shares during the period. Finally, Siemens Fonds Invest GmbH increased its position in shares of American Tower by 7.3% during the fourth quarter. Siemens Fonds Invest GmbH now owns 21,425 shares of the real estate investment trust’s stock worth $3,898,000 after acquiring an additional 1,453 shares during the period. Institutional investors own 92.69% of the company’s stock.

About American Tower

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 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.