American Tower Co. (NYSE:AMT) Receives $288.92 Average Price Target from Brokerages

Shares of American Tower Co. (NYSE:AMTGet Rating) have been given a consensus rating of “Hold” by the sixteen ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $288.92.

Several research analysts recently commented on AMT shares. TheStreet raised American Tower from a “c+” rating to a “b” rating in a research note on Wednesday, April 27th. Credit Suisse Group reduced their price target on American Tower from $325.00 to $300.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 1st. Raymond James lowered their target price on American Tower from $294.00 to $279.00 and set an “outperform” rating for the company in a research note on Monday, February 28th. Morgan Stanley raised their target price on shares of American Tower from $274.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, April 7th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on American Tower from $288.00 to $260.00 and set a “hold” rating on the stock in a report on Monday, February 28th.

In related news, CFO Rodney M. Smith sold 25,389 shares of the business’s stock in a transaction on Thursday, April 21st. The shares were sold at an average price of $270.00, for a total value of $6,855,030.00. Following the completion of the transaction, the chief financial officer now directly owns 52,398 shares in the company, valued at approximately $14,147,460. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.24% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in AMT. Rational Advisors LLC raised its stake in American Tower by 140.0% in the 4th quarter. Rational Advisors LLC now owns 84 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 49 shares during the last quarter. Cassady Schiller Wealth Management LLC bought a new position in American Tower during the fourth quarter valued at about $25,000. Sandy Cove Advisors LLC purchased a new stake in shares of American Tower during the fourth quarter valued at $27,000. Crewe Advisors LLC acquired a new position in American Tower in the 4th quarter worth about $28,000. Finally, Bell Investment Advisors Inc acquired a new position in shares of American Tower during the 3rd quarter valued at about $27,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

American Tower stock traded up $1.88 during mid-day trading on Friday, hitting $260.40. The company’s stock had a trading volume of 73,656 shares, compared to its average volume of 2,004,887. American Tower has a one year low of $220.00 and a one year high of $303.72. The company has a debt-to-equity ratio of 4.12, a quick ratio of 0.51 and a current ratio of 0.51. The company has a 50 day moving average of $247.66 and a 200-day moving average of $253.25. The stock has a market cap of $118.82 billion, a PE ratio of 44.55, a P/E/G ratio of 2.35 and a beta of 0.49.

American Tower (NYSE:AMTGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The real estate investment trust reported $1.56 EPS for the quarter, missing the consensus estimate of $2.41 by ($0.85). American Tower had a net margin of 26.72% and a return on equity of 30.44%. The business had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period in the previous year, the business posted $2.46 earnings per share. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, equities research analysts forecast that American Tower will post 9.68 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 8th. Investors of record on Friday, June 17th will be issued a dividend of $1.43 per share. This is a positive change from American Tower’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Thursday, June 16th. This represents a $5.72 dividend on an annualized basis and a yield of 2.20%. American Tower’s dividend payout ratio (DPR) is presently 96.89%.

About American Tower (Get Rating)

American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.

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Analyst Recommendations for American Tower (NYSE:AMT)

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