Brokerages Set American Tower Co. (NYSE:AMT) PT at $233.07

Shares of American Tower Co. (NYSE:AMT) have been given a consensus rating of “Buy” by the seventeen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, thirteen have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $239.27.

AMT has been the topic of a number of research reports. Barclays boosted their target price on shares of American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. UBS Group upped their price objective on shares of American Tower from $245.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, April 30th. Wells Fargo & Company boosted their price target on American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. JMP Securities raised their price objective on American Tower from $248.00 to $260.00 and gave the stock a “market outperform” rating in a research report on Wednesday, April 30th. Finally, Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research report on Monday, January 27th.

American Tower Price Performance

NYSE AMT opened at $223.95 on Tuesday. American Tower has a 1 year low of $172.51 and a 1 year high of $243.56. The company has a fifty day simple moving average of $214.04 and a 200 day simple moving average of $201.87. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a market cap of $104.69 billion, a P/E ratio of 94.49, a P/E/G ratio of 1.29 and a beta of 0.86.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.34. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.54 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s revenue was down 9.6% compared to the same quarter last year. During the same period last year, the business posted $2.79 earnings per share. On average, sell-side analysts predict that American Tower will post 10.14 EPS for the current year.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Friday, April 11th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.04%. This is a boost from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend was Friday, April 11th. American Tower’s payout ratio is currently 174.81%.

Institutional Investors Weigh In On American Tower

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Partners Group Holding AG increased its holdings in shares of American Tower by 8.3% in the fourth quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust’s stock valued at $69,438,000 after purchasing an additional 28,988 shares in the last quarter. Nordea Investment Management AB boosted its position in American Tower by 28.5% in the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after buying an additional 314,769 shares during the last quarter. TigerOak Management L.L.C. acquired a new stake in shares of American Tower in the 4th quarter valued at $1,102,000. Brookstone Capital Management raised its position in shares of American Tower by 29.0% during the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after acquiring an additional 1,995 shares during the last quarter. Finally, Aviva PLC lifted its stake in shares of American Tower by 13.4% during the fourth quarter. Aviva PLC now owns 388,487 shares of the real estate investment trust’s stock valued at $71,252,000 after acquiring an additional 46,009 shares during the period. Institutional investors and hedge funds own 92.69% 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 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.