Deutsche Bank downgraded shares of American Tower (NYSE:AMT) from a buy rating to a hold rating in a research note issued to investors on Thursday, Marketbeat Ratings reports. Deutsche Bank currently has $167.00 target price on the real estate investment trust’s stock, down from their previous target price of $169.00. The analysts noted that the move was a valuation call.
A number of other equities analysts have also commented on AMT. Zacks Investment Research raised American Tower from a sell rating to a hold rating in a research note on Thursday, October 18th. Citigroup lowered American Tower from a buy rating to a neutral rating and increased their price target for the company from $161.00 to $176.00 in a research note on Wednesday. Barclays increased their price target on American Tower from $156.00 to $164.00 and gave the company an overweight rating in a research note on Wednesday. Bank of America set a $172.00 price target on American Tower and gave the company a buy rating in a research note on Wednesday. Finally, Royal Bank of Canada increased their price target on American Tower to $173.00 and gave the company an outperform rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has an average rating of Buy and an average price target of $164.20.
NYSE:AMT opened at $152.06 on Thursday. The company has a debt-to-equity ratio of 3.11, a current ratio of 0.72 and a quick ratio of 0.66. American Tower has a 12-month low of $130.37 and a 12-month high of $161.71. The stock has a market cap of $67.03 billion, a P/E ratio of 21.51, a price-to-earnings-growth ratio of 1.47 and a beta of 0.59.
American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. American Tower had a return on equity of 18.55% and a net margin of 17.07%. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the company earned $1.73 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. As a group, research analysts anticipate that American Tower will post 7.58 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 17th. Stockholders of record on Friday, September 28th were paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 2.08%. This is a positive change from American Tower’s previous quarterly dividend of $0.77. The ex-dividend date was Thursday, September 27th. American Tower’s dividend payout ratio (DPR) is presently 49.53%.
In other news, insider Steven C. Marshall sold 163,166 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $156.86, for a total value of $25,594,218.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Edmund Disanto sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $149.53, for a total value of $2,242,950.00. The disclosure for this sale can be found here. Insiders sold a total of 242,126 shares of company stock valued at $37,410,060 over the last ninety days. Corporate insiders own 0.87% of the company’s stock.
Large investors have recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its stake in shares of American Tower by 10.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 150,440 shares of the real estate investment trust’s stock valued at $21,689,000 after purchasing an additional 13,702 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in shares of American Tower by 2.3% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 88,277 shares of the real estate investment trust’s stock valued at $12,727,000 after purchasing an additional 1,981 shares during the last quarter. Adelante Capital Management LLC lifted its stake in shares of American Tower by 7.8% in the 2nd quarter. Adelante Capital Management LLC now owns 271,249 shares of the real estate investment trust’s stock valued at $39,106,000 after purchasing an additional 19,579 shares during the last quarter. Hermes Investment Management Ltd. lifted its stake in shares of American Tower by 2.6% in the 2nd quarter. Hermes Investment Management Ltd. now owns 428,455 shares of the real estate investment trust’s stock valued at $61,770,000 after purchasing an additional 10,865 shares during the last quarter. Finally, Tower Research Capital LLC TRC bought a new stake in shares of American Tower in the 2nd quarter valued at approximately $5,501,000. 93.35% of the stock is owned by institutional investors and hedge funds.
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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