American Tower Co. (NYSE:AMT) Receives $235.54 Average Price Target from Analysts

American Tower Co. (NYSE:AMT) has been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $235.54.

A number of research analysts recently commented on AMT shares. Scotiabank lowered their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their target price on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Barclays reduced their target price on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Royal Bank of Canada lifted their target price on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Finally, Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th.

American Tower Trading Down 0.8 %

NYSE:AMT opened at $207.33 on Friday. American Tower has a one year low of $170.46 and a one year high of $243.56. The business has a fifty day moving average price of $215.95 and a 200-day moving average price of $212.61. The firm has a market capitalization of $96.88 billion, a price-to-earnings ratio of 87.48, a price-to-earnings-growth ratio of 1.39 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.58 EPS. Sell-side analysts forecast that American Tower will post 10.08 EPS for the current year.

American Tower Dividend Announcement

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 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s payout ratio is 273.42%.

Institutional Trading of American Tower

Several hedge funds and other institutional investors have recently made changes to their positions in AMT. Cultivar Capital Inc. acquired a new stake in shares of American Tower during the second quarter worth about $25,000. Fortitude Family Office LLC lifted its holdings in shares of American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 78 shares during the period. Fairscale Capital LLC purchased a new stake in shares of American Tower in the second quarter worth about $27,000. Hobbs Group Advisors LLC acquired a new stake in American Tower during the second quarter worth about $29,000. Finally, Northwest Investment Counselors LLC purchased a new position in American Tower during the third quarter valued at approximately $30,000. Hedge funds and other institutional investors 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.