American Tower Corp (AMT) Given Average Recommendation of “Hold” by Brokerages

Shares of American Tower Corp (NYSE:AMT) have earned an average rating of “Hold” from the twenty-one ratings firms that are currently covering the company, Marketbeat Ratings reports. Twelve investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $182.00.

Several research firms recently commented on AMT. Morgan Stanley upped their price target on shares of American Tower from $185.00 to $201.00 and gave the company an “equal weight” rating in a research report on Monday. Wells Fargo & Co downgraded shares of American Tower from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $190.00 to $196.00 in a research report on Monday, April 15th. They noted that the move was a valuation call. SunTrust Banks upped their price objective on shares of American Tower to $210.00 and gave the stock a “positive” rating in a research report on Monday, May 6th. Royal Bank of Canada upped their price objective on shares of American Tower from $195.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Finally, Bank of America upped their price objective on shares of American Tower from $172.00 to $208.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th.

AMT stock traded down $0.08 on Thursday, hitting $198.17. The company’s stock had a trading volume of 1,321,244 shares, compared to its average volume of 1,764,910. American Tower has a 1 year low of $134.87 and a 1 year high of $203.38. The company has a market cap of $89.48 billion, a price-to-earnings ratio of 24.80, a price-to-earnings-growth ratio of 1.65 and a beta of 0.66. The company has a debt-to-equity ratio of 4.31, a current ratio of 0.50 and a quick ratio of 0.50.

American Tower (NYSE:AMT) last released its quarterly earnings results on Friday, May 3rd. The real estate investment trust reported $1.84 EPS for the quarter, beating the consensus estimate of $1.80 by $0.04. American Tower had a net margin of 17.95% and a return on equity of 22.61%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. American Tower’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, analysts anticipate that American Tower will post 7.51 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Thursday, April 11th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date was Wednesday, April 10th. This is an increase from American Tower’s previous quarterly dividend of $0.84. American Tower’s dividend payout ratio (DPR) is currently 45.06%.

In other news, Director Joann A. Reed sold 1,538 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $175.61, for a total value of $270,088.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William H. Hess sold 20,000 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $186.97, for a total transaction of $3,739,400.00. Following the completion of the transaction, the executive vice president now owns 92,231 shares of the company’s stock, valued at approximately $17,244,430.07. The disclosure for this sale can be found here. Insiders sold a total of 215,986 shares of company stock valued at $41,954,910 in the last quarter. Insiders own 0.75% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in AMT. Oregon Public Employees Retirement Fund increased its holdings in shares of American Tower by 15,525.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,579,832 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 7,531,324 shares in the last quarter. FMR LLC increased its holdings in shares of American Tower by 32.6% in the 4th quarter. FMR LLC now owns 20,144,710 shares of the real estate investment trust’s stock valued at $3,186,692,000 after purchasing an additional 4,949,323 shares in the last quarter. Vanguard Group Inc increased its holdings in shares of American Tower by 6.7% in the 3rd quarter. Vanguard Group Inc now owns 56,635,438 shares of the real estate investment trust’s stock valued at $8,229,130,000 after purchasing an additional 3,579,249 shares in the last quarter. Norges Bank purchased a new position in shares of American Tower in the 4th quarter valued at about $546,909,000. Finally, Jennison Associates LLC increased its holdings in shares of American Tower by 203.6% in the 4th quarter. Jennison Associates LLC now owns 2,881,240 shares of the real estate investment trust’s stock valued at $455,783,000 after purchasing an additional 1,932,136 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

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 171,000 communications sites.

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Analyst Recommendations for American Tower (NYSE:AMT)

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