American Tower (NYSE:AMT) Price Target Raised to $196.00

American Tower (NYSE:AMT - Free Report) had its price target upped by Morgan Stanley from $183.00 to $196.00 in a research note issued to investors on Monday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the real estate investment trust's stock.

Several other research firms also recently commented on AMT. BMO Capital Markets reduced their price target on shares of American Tower from $235.00 to $228.00 and set an outperform rating on the stock in a research note on Wednesday, February 28th. JPMorgan Chase & Co. lowered their target price on shares of American Tower from $236.00 to $230.00 and set an overweight rating for the company in a research note on Wednesday, February 28th. Barclays lifted their price objective on shares of American Tower from $224.00 to $234.00 and gave the company an overweight rating in a research note on Tuesday, March 5th. Mizuho began coverage on shares of American Tower in a research note on Monday, April 8th. They issued a neutral rating and a $205.00 target price for the company. Finally, StockNews.com cut shares of American Tower from a buy rating to a hold rating in a research note on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $217.36.

American Tower Price Performance

AMT traded down $1.08 during trading on Monday, hitting $178.12. 2,432,041 shares of the company traded hands, compared to its average volume of 2,397,282. The company has a market cap of $83.07 billion, a PE ratio of 56.01, a P/E/G ratio of 1.24 and a beta of 0.67. The stock's 50-day simple moving average is $193.65 and its two-hundred day simple moving average is $193.68. American Tower has a 1 year low of $154.58 and a 1 year high of $219.10. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing the consensus estimate of $2.10 by ($1.16). American Tower had a net margin of 13.31% and a return on equity of 12.80%. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter last year, the business earned $2.34 EPS. American Tower's revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that American Tower will post 10.05 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Thursday, April 11th. American Tower's dividend payout ratio (DPR) is presently 203.77%.

Insider Activity at American Tower

In related news, Director Pamela D. A. Reeve sold 5,054 shares of the business's stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the transaction, the director now owns 18,545 shares of the company's stock, valued at approximately $3,532,080.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the company's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the transaction, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the transaction, the chief financial officer now owns 62,969 shares of the company's stock, valued at $12,953,352.99. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On American Tower

Large investors have recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC bought a new position in American Tower during the first quarter valued at about $25,000. McClarren Financial Advisors Inc. purchased a new stake in shares of American Tower during the 3rd quarter worth about $27,000. Gold Investment Management Ltd. purchased a new stake in shares of American Tower during the 4th quarter worth about $28,000. Emerald Advisers LLC bought a new position in shares of American Tower in the 3rd quarter valued at approximately $29,000. Finally, Thompson Investment Management Inc. bought a new position in shares of American Tower in the 4th quarter valued at approximately $29,000. 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.