Brokerages Set American Tower Corp (AMT) Target Price at $177.13

Shares of American Tower Corp (NYSE:AMT) have earned an average recommendation of “Hold” from the twenty-one analysts that are currently covering the company, MarketBeat reports. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $177.13.

A number of equities research analysts have recently issued reports on the stock. KeyCorp boosted their target price on shares of American Tower from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, February 12th. Moffett Nathanson cut shares of American Tower from a “buy” rating to a “neutral” rating and set a $164.00 target price for the company. in a research report on Monday, December 3rd. Edward Jones cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. Macquarie reissued a “buy” rating and issued a $210.00 target price on shares of American Tower in a research report on Thursday, February 28th. Finally, CIBC reissued a “market perform” rating on shares of American Tower in a research report on Thursday, February 28th.

Shares of American Tower stock opened at $197.06 on Wednesday. The stock has a market capitalization of $85.99 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 1.65 and a beta of 0.67. American Tower has a 52-week low of $133.53 and a 52-week high of $197.33. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.68 and a quick ratio of 0.68.

American Tower (NYSE:AMT) last announced its earnings results on Wednesday, February 27th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.25 by ($1.63). The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.03 billion. American Tower had a net margin of 16.62% and a return on equity of 19.86%. The company’s revenue was up 25.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 EPS. As a group, analysts anticipate that American Tower will post 7.53 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Thursday, April 11th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.83%. 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 42.05%.

In other American Tower news, EVP Olivier Puech sold 1,169 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $188.18, for a total transaction of $219,982.42. Following the completion of the transaction, the executive vice president now owns 19,147 shares of the company’s stock, valued at $3,603,082.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP William H. Hess sold 20,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $186.97, for a total value of $3,739,400.00. Following the transaction, the executive vice president now directly owns 92,231 shares of the company’s stock, valued at approximately $17,244,430.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,253 shares of company stock valued at $15,216,065. 0.87% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cornerstone Advisors Inc. raised its stake in American Tower by 4.7% during the fourth quarter. Cornerstone Advisors Inc. now owns 1,413 shares of the real estate investment trust’s stock worth $224,000 after acquiring an additional 64 shares in the last quarter. Legacy Financial Advisors Inc. grew its holdings in shares of American Tower by 20.4% during the fourth quarter. Legacy Financial Advisors Inc. now owns 396 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 67 shares during the last quarter. Waldron Private Wealth LLC grew its holdings in shares of American Tower by 3.0% during the third quarter. Waldron Private Wealth LLC now owns 2,410 shares of the real estate investment trust’s stock worth $350,000 after purchasing an additional 70 shares during the last quarter. CAPROCK Group Inc. grew its holdings in shares of American Tower by 2.6% during the fourth quarter. CAPROCK Group Inc. now owns 2,769 shares of the real estate investment trust’s stock worth $440,000 after purchasing an additional 70 shares during the last quarter. Finally, Atwood & Palmer Inc. grew its holdings in shares of American Tower by 17.5% during the fourth quarter. Atwood & Palmer Inc. now owns 470 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 70 shares during the last quarter. 94.73% of the stock is 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 over 170,000 communications sites.

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Analyst Recommendations for American Tower (NYSE:AMT)

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