Raymond James Forecasts Strong Price Appreciation for American Tower (NYSE:AMT) Stock

American Tower (NYSE:AMT - Get Free Report) had its target price hoisted by research analysts at Raymond James from $231.00 to $251.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a "strong-buy" rating on the real estate investment trust's stock. Raymond James' target price suggests a potential upside of 13.45% from the company's previous close.

A number of other equities analysts have also recently commented on AMT. Barclays lifted their target price on shares of American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Morgan Stanley began coverage on shares of American Tower in a report on Tuesday, April 1st. They issued an "overweight" rating and a $250.00 price target on the stock. Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Scotiabank reissued an "outperform" rating on shares of American Tower in a report on Tuesday, April 22nd. Finally, Mizuho cut their price objective on American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $234.40.

American Tower Stock Up 4.7 %

American Tower stock opened at $221.24 on Wednesday. American Tower has a twelve month low of $170.46 and a twelve month high of $243.56. The firm has a 50 day moving average price of $211.85 and a 200-day moving average price of $202.07. The company has a market capitalization of $103.42 billion, a P/E ratio of 93.35, a P/E/G ratio of 1.29 and a beta of 0.87. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data 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 last year, the firm earned $2.79 EPS. American Tower's revenue for the quarter was down 9.6% on a year-over-year basis. As a group, equities analysts predict that American Tower will post 10.14 EPS for the current year.

Institutional Trading of American Tower

Several institutional investors and hedge funds have recently made changes to their positions in AMT. North Capital Inc. purchased a new stake in American Tower in the first quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of American Tower during the first quarter valued at about $31,000. Lowe Wealth Advisors LLC lifted its position in shares of American Tower by 218.0% during the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 109 shares during the last quarter. Minot DeBlois Advisors LLC purchased a new stake in shares of American Tower during the fourth quarter valued at about $29,000. Finally, Graney & King LLC purchased a new stake in shares of American Tower during the fourth quarter valued at about $32,000. 92.69% of the stock is currently owned by institutional investors.

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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