Wells Fargo & Co downgraded shares of American Tower (NYSE:AMT) from an outperform rating to a market perform rating in a report released on Monday morning, BenzingaRatingsTable reports. Wells Fargo & Co currently has $196.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $190.00. The analysts noted that the move was a valuation call.

A number of other analysts have also recently weighed in on AMT. Oppenheimer restated a market perform rating and set a $173.00 target price on shares of American Tower in a report on Thursday, February 28th. They noted that the move was a valuation call. Macquarie restated a buy rating and set a $210.00 target price on shares of American Tower in a report on Thursday, February 28th. CIBC restated a market perform rating on shares of American Tower in a report on Thursday, February 28th. Royal Bank of Canada raised their target price on shares of American Tower from $173.00 to $195.00 and gave the stock an outperform rating in a report on Wednesday, March 6th. Finally, Bank of America raised their target price on shares of American Tower from $172.00 to $208.00 and gave the stock a buy rating in a report on Tuesday, March 19th. Twelve equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. American Tower has a consensus rating of Hold and an average price target of $177.25.

Shares of NYSE:AMT opened at $196.09 on Monday. The company has a market cap of $86.75 billion, a P/E ratio of 24.54, a price-to-earnings-growth ratio of 1.66 and a beta of 0.68. American Tower has a 1-year low of $133.53 and a 1-year high of $198.19. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 3.12.

American Tower (NYSE:AMT) last issued its earnings results on Wednesday, February 27th. The real estate investment trust reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.25 by ($1.63). The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.03 billion. American Tower had a return on equity of 19.86% and a net margin of 16.62%. The company’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.51 earnings per share. As a group, sell-side analysts anticipate that American Tower will post 7.53 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Thursday, April 11th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Wednesday, April 10th. This is an increase from American Tower’s previous quarterly dividend of $0.84. American Tower’s dividend payout ratio is 45.06%.

In related news, Director Gustavo Lara sold 3,050 shares of the company’s stock in a transaction that occurred on Friday, January 18th. The shares were sold at an average price of $165.00, for a total value of $503,250.00. Following the completion of the sale, the director now owns 12,457 shares in the company, valued at approximately $2,055,405. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Amit Sharma sold 32,500 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $194.35, for a total transaction of $6,316,375.00. Following the completion of the sale, the executive vice president now owns 177,193 shares of the company’s stock, valued at approximately $34,437,459.55. The disclosure for this sale can be found here. In the last 90 days, insiders sold 119,753 shares of company stock valued at $21,218,220. 0.87% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the stock. Canton Hathaway LLC purchased a new stake in American Tower in the 1st quarter worth approximately $26,000. Quantamental Technologies LLC purchased a new stake in American Tower in the 4th quarter worth approximately $25,000. Lavaca Capital LLC purchased a new stake in American Tower in the 4th quarter worth approximately $27,000. WESPAC Advisors SoCal LLC purchased a new stake in American Tower in the 4th quarter worth approximately $27,000. Finally, Acima Private Wealth LLC purchased a new stake in American Tower in the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 94.75% of the company’s stock.

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 170,000 communications sites.

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Analyst Recommendations for American Tower (NYSE:AMT)

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