Analysts Set American Tower Corp (NYSE:AMT) PT at $228.31

American Tower Corp (NYSE:AMT) has been assigned an average recommendation of “Hold” from the seventeen analysts that are currently covering the stock, Marketbeat reports. Ten analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $228.31.

A number of equities research analysts have recently weighed in on the company. Cowen boosted their target price on American Tower from $238.00 to $260.00 and gave the stock an “in-line” rating in a research report on Friday, November 1st. KeyCorp boosted their target price on American Tower from $242.00 to $254.00 and gave the stock an “overweight” rating in a research report on Friday, January 10th. Goldman Sachs Group upgraded American Tower from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $204.00 to $270.00 in a research report on Monday, January 13th. Finally, Morgan Stanley restated a “hold” rating and set a $218.00 target price (up previously from $216.00) on shares of American Tower in a research report on Friday, November 22nd.

In related news, EVP Steven O. Vondran sold 1,261 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $229.68, for a total value of $289,626.48. Following the completion of the sale, the executive vice president now owns 28,705 shares in the company, valued at $6,592,964.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Samme L. Thompson sold 3,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $227.56, for a total value of $682,680.00. Following the completion of the sale, the director now owns 22,598 shares of the company’s stock, valued at approximately $5,142,400.88. The disclosure for this sale can be found here. Insiders sold 4,574 shares of company stock valued at $1,043,846 in the last quarter. 0.75% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in AMT. BlackRock Inc. increased its holdings in shares of American Tower by 4.0% in the second quarter. BlackRock Inc. now owns 31,549,686 shares of the real estate investment trust’s stock worth $6,450,332,000 after acquiring an additional 1,213,664 shares in the last quarter. Nwam LLC purchased a new position in American Tower in the third quarter valued at approximately $207,000. Signaturefd LLC lifted its stake in American Tower by 8.3% in the third quarter. Signaturefd LLC now owns 2,255 shares of the real estate investment trust’s stock valued at $499,000 after purchasing an additional 172 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its stake in American Tower by 656.3% in the third quarter. Wealthcare Advisory Partners LLC now owns 242 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 210 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its stake in American Tower by 43.9% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 50,278 shares of the real estate investment trust’s stock valued at $11,118,000 after purchasing an additional 15,347 shares during the last quarter. Institutional investors own 91.11% of the company’s stock.

Shares of AMT stock traded down $3.30 on Friday, reaching $252.95. 141,459 shares of the stock were exchanged, compared to its average volume of 1,411,434. The stock has a market cap of $113.50 billion, a PE ratio of 70.45, a P/E/G ratio of 1.64 and a beta of 0.40. American Tower has a one year low of $171.71 and a one year high of $258.62. The company has a debt-to-equity ratio of 4.40, a current ratio of 0.53 and a quick ratio of 0.53. The stock has a 50 day moving average price of $236.04 and a 200 day moving average price of $224.01.

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 approximately 171,000 communications sites.

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Analyst Recommendations for American Tower (NYSE:AMT)

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