Equities analysts predict that American Tower Corp (NYSE:AMT) will post $1.84 billion in sales for the current quarter, Zacks reports. Six analysts have made estimates for American Tower’s earnings, with the lowest sales estimate coming in at $1.82 billion and the highest estimate coming in at $1.86 billion. American Tower reported sales of $1.78 billion in the same quarter last year, which would suggest a positive year over year growth rate of 3.4%. The company is scheduled to issue its next quarterly earnings results before the market opens on Wednesday, July 31st.
According to Zacks, analysts expect that American Tower will report full-year sales of $7.36 billion for the current financial year, with estimates ranging from $7.34 billion to $7.39 billion. For the next financial year, analysts forecast that the firm will post sales of $7.80 billion, with estimates ranging from $7.53 billion to $8.06 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for American Tower.
American Tower (NYSE:AMT) last issued its quarterly earnings results on Friday, May 3rd. The real estate investment trust reported $1.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.04. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.80 billion. American Tower had a return on equity of 22.61% and a net margin of 17.95%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 EPS.
Several brokerages have commented on AMT. Wells Fargo & Co lifted their price target on Sempra Energy from $137.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. UBS Group reaffirmed a “buy” rating on shares of Fortis in a research report on Friday, June 7th. Bank of America set a $47.00 price target on Yandex and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Royal Bank of Canada lifted their price target on Summit Industrial Income REIT from C$11.50 to C$12.50 and gave the stock a “sector perform” rating in a research report on Thursday, May 9th. Finally, SunTrust Banks reaffirmed a “hold” rating on shares of Tripadvisor in a research report on Monday, May 6th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $185.94.
NYSE AMT traded down $0.28 during trading on Friday, hitting $208.98. The company’s stock had a trading volume of 1,263,333 shares, compared to its average volume of 1,808,296. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 4.31. The business’s 50 day moving average is $209.27. The firm has a market cap of $92.50 billion, a price-to-earnings ratio of 26.16, a P/E/G ratio of 1.71 and a beta of 0.49. American Tower has a 52 week low of $138.51 and a 52 week high of $218.79.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Wednesday, June 19th were given a dividend of $0.92 per share. The ex-dividend date was Tuesday, June 18th. This is a boost from American Tower’s previous quarterly dividend of $0.90. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.76%. American Tower’s payout ratio is currently 46.06%.
In other news, Chairman James D. Taiclet, Jr. sold 57,439 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $194.31, for a total transaction of $11,160,972.09. Following the sale, the chairman now directly owns 255,415 shares in the company, valued at $49,629,688.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP William H. Hess sold 12,768 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $192.60, for a total value of $2,459,116.80. Following the sale, the executive vice president now owns 62,663 shares in the company, valued at $12,068,893.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 292,222 shares of company stock worth $58,358,826. 0.75% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AMT. Meridian Wealth Management LLC boosted its stake in American Tower by 56.3% in the 1st quarter. Meridian Wealth Management LLC now owns 4,133 shares of the real estate investment trust’s stock valued at $814,000 after buying an additional 1,488 shares in the last quarter. Allstate Corp boosted its stake in American Tower by 1.4% in the 1st quarter. Allstate Corp now owns 37,744 shares of the real estate investment trust’s stock valued at $7,438,000 after buying an additional 532 shares in the last quarter. State of Wisconsin Investment Board boosted its stake in American Tower by 1.0% in the 1st quarter. State of Wisconsin Investment Board now owns 679,810 shares of the real estate investment trust’s stock valued at $133,963,000 after buying an additional 6,985 shares in the last quarter. Moors & Cabot Inc. acquired a new stake in American Tower in the 1st quarter valued at $456,000. Finally, Cetera Investment Advisers boosted its stake in American Tower by 14.7% in the 4th quarter. Cetera Investment Advisers now owns 2,312 shares of the real estate investment trust’s stock valued at $362,000 after buying an additional 296 shares in the last quarter. Institutional investors and hedge funds own 94.28% 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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