American Tower (NYSE:AMT) had its price objective boosted by Bank of America from $172.00 to $208.00 in a report issued on Tuesday morning. Bank of America currently has a buy rating on the real estate investment trust’s stock.
Other research analysts also recently issued research reports about the company. Macquarie reiterated a buy rating and issued a $210.00 price objective on shares of American Tower in a report on Thursday, February 28th. Morgan Stanley downgraded American Tower from an overweight rating to an equal weight rating and set a $170.00 price objective on the stock. in a report on Wednesday, December 12th. Edward Jones downgraded American Tower from a buy rating to a hold rating in a report on Wednesday, March 13th. Oppenheimer downgraded American Tower from an outperform rating to a market perform rating in a report on Thursday, February 28th. Finally, CIBC reiterated a market perform rating on shares of American Tower in a report on Thursday, February 28th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. American Tower has a consensus rating of Hold and a consensus target price of $176.88.
NYSE AMT opened at $189.91 on Tuesday. The stock has a market cap of $83.33 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 1.79 and a beta of 0.67. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 3.12. American Tower has a twelve month low of $133.53 and a twelve month high of $190.22.
American Tower (NYSE:AMT) last released its quarterly earnings data on Wednesday, February 27th. The real estate investment trust reported $0.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.25 by ($1.63). The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.03 billion. American Tower had a return on equity of 19.86% and a net margin of 16.62%. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 EPS. On average, analysts predict that American Tower will post 7.53 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Thursday, April 11th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Wednesday, April 10th. This is an increase from American Tower’s previous quarterly dividend of $0.84. American Tower’s payout ratio is currently 42.05%.
In other American Tower news, Director Samme L. Thompson sold 2,000 shares of American Tower stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $157.11, for a total transaction of $314,220.00. Following the sale, the director now directly owns 20,625 shares of the company’s stock, valued at approximately $3,240,393.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Olivier Puech sold 1,169 shares of American Tower stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $188.18, for a total value of $219,982.42. Following the sale, the executive vice president now directly owns 19,147 shares in the company, valued at $3,603,082.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,253 shares of company stock worth $15,216,065. 0.87% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Cornerstone Advisors Inc. boosted its position in shares of American Tower by 4.7% in the 4th quarter. Cornerstone Advisors Inc. now owns 1,413 shares of the real estate investment trust’s stock worth $224,000 after purchasing an additional 64 shares in the last quarter. Legacy Financial Advisors Inc. raised its holdings in American Tower by 20.4% in the 4th quarter. Legacy Financial Advisors Inc. now owns 396 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 67 shares during the last quarter. Waldron Private Wealth LLC raised its holdings in American Tower by 3.0% in the 3rd quarter. Waldron Private Wealth LLC now owns 2,410 shares of the real estate investment trust’s stock worth $350,000 after acquiring an additional 70 shares during the last quarter. CAPROCK Group Inc. raised its holdings in American Tower by 2.6% in the 4th quarter. CAPROCK Group Inc. now owns 2,769 shares of the real estate investment trust’s stock worth $440,000 after acquiring an additional 70 shares during the last quarter. Finally, Atwood & Palmer Inc. raised its holdings in American Tower by 17.5% in the 4th quarter. Atwood & Palmer Inc. now owns 470 shares of the real estate investment trust’s stock worth $74,000 after acquiring an additional 70 shares during the last quarter. 93.94% of the stock is currently owned by institutional investors and hedge funds.
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 170,000 communications sites.
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