Shares of American Tower Corp (NYSE:AMT) have been given a consensus recommendation of “Buy” by the sixteen brokerages that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $162.31.
AMT has been the topic of a number of recent analyst reports. Wells Fargo & Co lifted their price objective on American Tower from $150.00 to $158.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 3rd. Zacks Investment Research lowered American Tower from a “hold” rating to a “sell” rating in a research note on Friday, July 6th. Raymond James lowered American Tower from an “outperform” rating to a “market perform” rating in a research note on Monday, July 9th. JPMorgan Chase & Co. lowered American Tower from an “overweight” rating to a “neutral” rating and set a $150.00 price objective on the stock. in a research note on Tuesday, July 10th. Finally, Guggenheim lowered American Tower from a “buy” rating to a “neutral” rating and set a $135.00 price target on the stock. in a research note on Monday, July 16th.
In other news, Director David E. Sharbutt sold 1,321 shares of the company’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $150.48, for a total value of $198,784.08. Following the sale, the director now directly owns 4,781 shares in the company, valued at approximately $719,444.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman James D. Taiclet, Jr. sold 43,808 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $150.65, for a total value of $6,599,675.20. The disclosure for this sale can be found here. Insiders have sold 80,281 shares of company stock worth $12,014,625 over the last 90 days. Corporate insiders own 0.87% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in AMT. BlackRock Inc. grew its stake in shares of American Tower by 8.9% in the 2nd quarter. BlackRock Inc. now owns 29,362,957 shares of the real estate investment trust’s stock valued at $4,233,258,000 after purchasing an additional 2,410,425 shares during the period. AustralianSuper Pty Ltd bought a new stake in shares of American Tower in the 2nd quarter valued at approximately $155,992,000. Dimensional Fund Advisors LP grew its stake in shares of American Tower by 13.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,032,192 shares of the real estate investment trust’s stock valued at $869,663,000 after purchasing an additional 713,894 shares during the period. Putnam Investments LLC grew its stake in shares of American Tower by 19.5% in the 2nd quarter. Putnam Investments LLC now owns 2,710,662 shares of the real estate investment trust’s stock valued at $390,796,000 after purchasing an additional 441,479 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of American Tower by 12.6% in the 1st quarter. Principal Financial Group Inc. now owns 3,595,781 shares of the real estate investment trust’s stock valued at $522,610,000 after purchasing an additional 402,859 shares during the period. Institutional investors own 93.35% of the company’s stock.
American Tower stock opened at $160.95 on Friday. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market capitalization of $65.95 billion, a PE ratio of 25.23, a price-to-earnings-growth ratio of 1.59 and a beta of 0.80. American Tower has a 52 week low of $130.37 and a 52 week high of $161.71.
American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.92). The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.76 billion. American Tower had a return on equity of 16.72% and a net margin of 16.34%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 earnings per share. Analysts anticipate that American Tower will post 7.11 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 17th. Investors of record on Friday, September 28th were paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 1.96%. This is a positive change from American Tower’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Thursday, September 27th. American Tower’s payout ratio is currently 49.53%.
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 approximately 170,000 communications sites.
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