Mizuho Lowers American Tower (NYSE:AMT) Price Target to $204.00

by · The Cerbat Gem

American Tower (NYSE:AMT – Get Free Report) had its price target reduced by research analysts at Mizuho from $221.00 to $204.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s price objective points to a potential upside of 14.49% from the stock’s previous close.

Several other analysts have also recently issued reports on AMT. Barclays dropped their target price on American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. BMO Capital Markets decreased their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Scotiabank cut their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group decreased their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $233.67.

Check Out Our Latest Research Report on American Tower

American Tower Price Performance

Shares of American Tower stock traded up $1.01 during trading hours on Wednesday, reaching $178.18. 492,564 shares of the company’s stock were exchanged, compared to its average volume of 1,942,961. The business has a fifty day moving average of $197.12 and a two-hundred day moving average of $212.27. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a market capitalization of $83.26 billion, a P/E ratio of 75.18, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84. American Tower has a 1 year low of $170.46 and a 1 year high of $243.56.

American Tower (NYSE:AMT – Get Free Report) last released its quarterly earnings data 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). The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.58 EPS. As a group, research analysts predict that American Tower will post 10.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On American Tower

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CX Institutional raised its stake in shares of American Tower by 2.9% in the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after acquiring an additional 54 shares in the last quarter. O Brien Greene & Co. Inc raised its position in American Tower by 2.3% in the 2nd quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock valued at $481,000 after purchasing an additional 55 shares in the last quarter. Palumbo Wealth Management LLC boosted its stake in shares of American Tower by 1.6% in the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock valued at $864,000 after buying an additional 57 shares during the period. Rehmann Capital Advisory Group grew its position in shares of American Tower by 4.2% during the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after buying an additional 58 shares in the last quarter. Finally, Sivia Capital Partners LLC raised its holdings in American Tower by 5.3% in the third quarter. Sivia Capital Partners LLC now owns 1,179 shares of the real estate investment trust’s stock valued at $274,000 after acquiring an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Company Profile

(Get Free Report)

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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