American Tower (NYSE:AMT) Given New $260.00 Price Target at JMP Securities

American Tower (NYSE:AMT - Get Free Report) had its price objective hoisted by stock analysts at JMP Securities from $248.00 to $260.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "market outperform" rating on the real estate investment trust's stock. JMP Securities' price target indicates a potential upside of 16.36% from the company's current price.

AMT has been the topic of several other reports. UBS Group raised their price objective on American Tower from $245.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday. Barclays raised their price target on shares of American Tower from $214.00 to $223.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. BMO Capital Markets upped their price objective on shares of American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Citizens Jmp raised shares of American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Finally, Hsbc Global Res raised American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $236.73.

American Tower Stock Up 1.0 %

NYSE AMT traded up $2.11 during mid-day trading on Wednesday, hitting $223.44. The company's stock had a trading volume of 675,544 shares, compared to its average volume of 2,486,379. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The company's 50 day simple moving average is $211.85 and its 200 day simple moving average is $202.07. American Tower has a twelve month low of $170.46 and a twelve month high of $243.56. The firm has a market capitalization of $104.45 billion, a price-to-earnings ratio of 94.45, a PEG ratio of 1.29 and a beta of 0.87.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, topping the consensus estimate of $2.41 by $0.34. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the previous year, the firm posted $2.79 earnings per share. The firm's revenue for the quarter was down 9.6% on a year-over-year basis. Analysts anticipate that American Tower will post 10.14 earnings per share for the current year.

Institutional Trading of American Tower

A number of institutional investors have recently added to or reduced their stakes in AMT. Norges Bank purchased a new stake in shares of American Tower in the fourth quarter worth about $1,164,851,000. Cohen & Steers Inc. lifted its stake in American Tower by 21.8% in the 4th quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock worth $3,516,890,000 after purchasing an additional 3,437,602 shares in the last quarter. Capital Research Global Investors boosted its holdings in American Tower by 66.5% in the 4th quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock valued at $1,570,547,000 after purchasing an additional 3,421,413 shares during the period. Capital World Investors grew its position in shares of American Tower by 160.6% during the 4th quarter. Capital World Investors now owns 4,920,100 shares of the real estate investment trust's stock valued at $902,396,000 after purchasing an additional 3,032,005 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of American Tower by 23,627.3% in the first quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust's stock worth $370,346,000 after purchasing an additional 1,694,784 shares during the period. Hedge funds and other 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.

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