American Tower Co. (NYSE:AMT) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of American Tower Co. (NYSE:AMT) have been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $221.67.

Several research analysts recently commented on the company. BMO Capital Markets cut their price target on American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $226.00 to $248.00 in a research report on Wednesday, May 1st. The Goldman Sachs Group started coverage on American Tower in a report on Monday. They issued a “buy” rating and a $230.00 target price for the company. Barclays reduced their target price on American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Finally, Scotiabank lowered their target price on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, May 1st.

Insider Buying and Selling at American Tower

In other news, EVP Sanjay Goel sold 3,504 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total value of $702,061.44. Following the sale, the executive vice president now owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other American Tower news, Director Robert D. Hormats sold 700 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the completion of the sale, the director now owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the transaction, the executive vice president now owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of American Tower

Institutional investors have recently made changes to their positions in the stock. Cross Staff Investments Inc boosted its stake in American Tower by 5.1% during the fourth quarter. Cross Staff Investments Inc now owns 5,027 shares of the real estate investment trust’s stock worth $1,085,000 after buying an additional 244 shares during the period. Gateway Investment Advisers LLC increased its holdings in American Tower by 57.7% in the 4th quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust’s stock worth $7,718,000 after buying an additional 13,074 shares during the period. Anchor Capital Advisors LLC increased its holdings in American Tower by 38.1% in the 4th quarter. Anchor Capital Advisors LLC now owns 76,625 shares of the real estate investment trust’s stock worth $16,542,000 after buying an additional 21,139 shares during the period. Meyer Handelman Co. purchased a new stake in American Tower in the 1st quarter worth approximately $801,000. Finally, TD Asset Management Inc boosted its position in American Tower by 23.2% in the 4th quarter. TD Asset Management Inc now owns 275,428 shares of the real estate investment trust’s stock worth $59,459,000 after purchasing an additional 51,882 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Down 0.9 %

NYSE:AMT opened at $192.27 on Wednesday. The stock’s 50 day moving average price is $188.65 and its 200 day moving average price is $194.83. The company has a market capitalization of $89.79 billion, a PE ratio of 43.50, a P/E/G ratio of 1.39 and a beta of 0.81. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. American Tower has a 52-week low of $154.58 and a 52-week high of $219.10.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.54 earnings per share. On average, research analysts anticipate that American Tower will post 10.03 EPS for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 14th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Friday, June 14th. American Tower’s payout ratio is 146.61%.

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 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.