American Tower Co. (NYSE:AMT – Get Free Report) has earned an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $230.42.
A number of brokerages have weighed in on AMT. Scotiabank upped their price objective on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research report on Wednesday. TD Cowen upped their price objective on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday. Raymond James upgraded shares of American Tower from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $226.00 to $248.00 in a research report on Wednesday, May 1st. Barclays decreased their price objective on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday.
Insider Activity at American Tower
Institutional Trading of American Tower
Several large investors have recently bought and sold shares of the business. Generate Investment Management Ltd purchased a new stake in American Tower during the 2nd quarter valued at about $7,222,000. RWC Asset Management LLP grew its stake in shares of American Tower by 0.4% in the 2nd quarter. RWC Asset Management LLP now owns 237,096 shares of the real estate investment trust’s stock valued at $46,087,000 after buying an additional 1,014 shares during the period. Laidlaw Wealth Management LLC purchased a new stake in shares of American Tower in the 2nd quarter valued at approximately $506,000. TIAA Trust National Association grew its stake in shares of American Tower by 445.9% in the 2nd quarter. TIAA Trust National Association now owns 83,507 shares of the real estate investment trust’s stock valued at $16,232,000 after buying an additional 68,210 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of American Tower by 2.8% in the 2nd quarter. Rhumbline Advisers now owns 1,123,256 shares of the real estate investment trust’s stock valued at $218,338,000 after buying an additional 30,753 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.
American Tower Trading Up 3.4 %
NYSE AMT opened at $227.93 on Friday. The company has a market capitalization of $106.44 billion, a PE ratio of 51.57, a P/E/G ratio of 1.57 and a beta of 0.81. The company has a fifty day moving average of $200.04 and a 200 day moving average of $194.11. American Tower has a 1 year low of $154.58 and a 1 year high of $229.22. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.85.
American Tower (NYSE:AMT – Get Free Report) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.46 earnings per share. Research analysts forecast that American Tower will post 10.04 earnings per share for the current year.
American Tower Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 14th were paid a dividend of $1.62 per share. The ex-dividend date was Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.84%. American Tower’s dividend payout ratio is currently 146.61%.
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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.
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