Barclays Issues Pessimistic Forecast for American Tower (NYSE:AMT) Stock Price

American Tower (NYSE:AMT - Get Free Report) had its price objective lowered by investment analysts at Barclays from $251.00 to $215.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the real estate investment trust's stock. Barclays's price target points to a potential upside of 23.89% from the company's current price.

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Several other research firms have also commented on AMT. JPMorgan Chase & Co. boosted their price target on shares of American Tower from $240.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, September 23rd. BMO Capital Markets cut their price objective on shares of American Tower from $255.00 to $245.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 30th. Mizuho cut their price objective on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. The Goldman Sachs Group cut their price objective on shares of American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a research report on Thursday, December 12th. Finally, StockNews.com downgraded shares of American Tower from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, American Tower presently has an average rating of "Moderate Buy" and an average price target of $230.67.

View Our Latest Stock Analysis on AMT

American Tower Trading Down 3.2 %

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NYSE:AMT opened at $173.54 on Monday. American Tower has a one year low of $170.46 and a one year high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market cap of $81.09 billion, a P/E ratio of 73.22, a P/E/G ratio of 1.31 and a beta of 0.84. The firm has a 50-day simple moving average of $194.98 and a 200-day simple moving average of $211.92.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the firm posted $2.58 EPS. The company's revenue for the quarter was down 10.5% compared to the same quarter last year. Equities analysts anticipate that American Tower will post 10.08 EPS for the current fiscal year.

Institutional Investors Weigh In On American Tower

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Hedge funds have recently modified their holdings of the business. Fortitude Family Office LLC raised its position in shares of American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 78 shares during the last quarter. Fairscale Capital LLC acquired a new stake in shares of American Tower in the second quarter valued at about $27,000. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower in the third quarter valued at about $30,000. Hara Capital LLC acquired a new stake in shares of American Tower in the third quarter valued at about $31,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of American Tower in the third quarter valued at about $34,000. 92.69% of the stock is currently 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.

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