American Tower Corp (NYSE:AMT) has been assigned a consensus recommendation of “Hold” from the twenty analysts that are presently covering the firm, MarketBeat.com reports. Twelve equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $194.73.
AMT has been the topic of a number of research analyst reports. Morgan Stanley lifted 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 note on Monday, May 20th. Royal Bank of Canada lifted their target price on shares of American Tower from $195.00 to $203.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. lifted their target price on shares of American Tower from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday. Wells Fargo & Co cut shares of American Tower from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $190.00 to $196.00 in a research note on Monday, April 15th. They noted that the move was a valuation call. Finally, UBS Group cut shares of American Tower from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $195.00 to $222.00 in a research note on Friday, June 7th.
American Tower stock traded up $4.06 during trading on Tuesday, reaching $215.47. The company had a trading volume of 1,802,304 shares, compared to its average volume of 1,590,184. The company has a 50-day moving average of $209.27. American Tower has a 1-year low of $140.40 and a 1-year high of $218.79. The company has a market capitalization of $93.45 billion, a price-to-earnings ratio of 26.97, a PEG ratio of 1.73 and a beta of 0.50. The company has a debt-to-equity ratio of 4.13, a current ratio of 0.49 and a quick ratio of 0.50.
American Tower (NYSE:AMT) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.91). American Tower had a net margin of 19.30% and a return on equity of 24.75%. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the business posted $1.74 EPS. American Tower’s revenue was up 6.1% compared to the same quarter last year. As a group, analysts expect that American Tower will post 7.63 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Wednesday, June 19th were paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 1.71%. The ex-dividend date was Tuesday, June 18th. This is a boost from American Tower’s previous quarterly dividend of $0.90. American Tower’s payout ratio is 46.06%.
In other news, Director David E. Sharbutt sold 2,035 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $192.15, for a total transaction of $391,025.25. Following the transaction, the director now owns 1,897 shares of the company’s stock, valued at approximately $364,508.55. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP William H. Hess sold 12,768 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $192.60, for a total transaction of $2,459,116.80. Following the transaction, the executive vice president now directly owns 62,663 shares in the company, valued at approximately $12,068,893.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 190,614 shares of company stock worth $38,600,596. 0.75% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Canton Hathaway LLC acquired a new position in shares of American Tower during the 1st quarter valued at about $26,000. Cable Hill Partners LLC boosted its position in shares of American Tower by 61.9% during the 1st quarter. Cable Hill Partners LLC now owns 136 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 52 shares during the last quarter. Nelson Roberts Investment Advisors LLC acquired a new position in shares of American Tower during the 2nd quarter valued at about $27,000. Spectrum Management Group Inc. acquired a new position in shares of American Tower during the 1st quarter valued at about $29,000. Finally, Next Capital Management LLC acquired a new position in shares of American Tower during the 2nd quarter valued at about $31,000. 94.11% of the stock is currently owned by hedge funds and other institutional investors.
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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