American Tower (NYSE:AMT) Given New $245.00 Price Target at BMO Capital Markets

American Tower (NYSE:AMT) had its target price decreased by BMO Capital Markets from $255.00 to $245.00 in a research report report published on Wednesday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the real estate investment trust’s stock.

AMT has been the topic of several other research reports. JPMorgan Chase & Co. raised their target price on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. TD Cowen boosted their price objective on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Scotiabank lifted their price target on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada upped their price objective on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $235.85.

American Tower Trading Down 1.1 %

NYSE AMT opened at $211.26 on Wednesday. American Tower has a 52 week low of $170.46 and a 52 week high of $243.56. The firm has a 50 day moving average of $228.14 and a two-hundred day moving average of $208.69. The company has a quick ratio of 0.81, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market capitalization of $98.68 billion, a PE ratio of 89.14, a price-to-earnings-growth ratio of 1.49 and a beta of 0.84.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the previous year, the firm posted $2.58 EPS. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, research analysts expect that American Tower will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Institutional Trading of American Tower

A number of hedge funds have recently added to or reduced their stakes in AMT. Cultivar Capital Inc. purchased a new stake in shares of American Tower during the second quarter worth approximately $25,000. Fortitude Family Office LLC increased its stake in American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 78 shares during the period. Fairscale Capital LLC purchased a new position in American Tower during the 2nd quarter worth $27,000. Hobbs Group Advisors LLC acquired a new stake in shares of American Tower in the 2nd quarter worth $29,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of American Tower in the third quarter valued at about $30,000. 92.69% of the stock is owned by institutional investors and hedge funds.

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