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

Shares of American Tower Co. (NYSE:AMT) have been given an average recommendation of “Moderate Buy” by the thirteen research firms that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $235.85.

Several brokerages have weighed in on AMT. BMO Capital Markets reduced their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Scotiabank cut their target price on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. TD Cowen upped their price objective on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th.

American Tower Price Performance

NYSE:AMT opened at $212.11 on Tuesday. The firm has a market capitalization of $99.07 billion, a price-to-earnings ratio of 89.50, a P/E/G ratio of 1.49 and a beta of 0.84. The company has a quick ratio of 0.81, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower has a 12-month low of $170.46 and a 12-month high of $243.56. The stock’s 50 day moving average price is $227.87 and its two-hundred day moving average price is $209.49.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.58 EPS. On average, analysts anticipate that American Tower will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Cottonwood Capital Advisors LLC bought a new position in American Tower in the 3rd quarter worth approximately $214,000. Jag Capital Management LLC increased its stake in shares of American Tower by 2.4% in the third quarter. Jag Capital Management LLC now owns 10,449 shares of the real estate investment trust’s stock worth $2,430,000 after acquiring an additional 243 shares during the last quarter. Kennebec Savings Bank acquired a new position in shares of American Tower in the third quarter worth $534,000. Ashton Thomas Securities LLC acquired a new stake in shares of American Tower in the third quarter valued at about $125,000. Finally, Mitchell Mcleod Pugh & Williams Inc. lifted its stake in shares of American Tower by 8.0% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 4,609 shares of the real estate investment trust’s stock valued at $1,072,000 after buying an additional 340 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.