American Tower Co. (NYSE:AMT) Receives $226.23 Average Target Price from Analysts

American Tower Co. (NYSE:AMT) has been assigned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $225.79.

AMT has been the topic of several recent research reports. Scotiabank cut their target price on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research note on Thursday, January 23rd. Barclays lowered their target price on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets cut their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th.

American Tower Price Performance

American Tower stock opened at $189.41 on Thursday. American Tower has a 1 year low of $170.46 and a 1 year high of $243.56. The company’s 50 day simple moving average is $186.70 and its 200-day simple moving average is $208.89. The company has a market capitalization of $88.51 billion, a price-to-earnings ratio of 79.92, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.42%. American Tower’s dividend payout ratio is currently 273.42%.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On American Tower

Several institutional investors and hedge funds have recently modified their holdings of AMT. Fortitude Family Office LLC raised its stake in shares of American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 78 shares during the period. Northwest Investment Counselors LLC bought a new position in American Tower during the 3rd quarter worth $30,000. Hara Capital LLC acquired a new position in American Tower during the 3rd quarter worth $31,000. Roxbury Financial LLC acquired a new position in American Tower during the 4th quarter worth $32,000. Finally, Graney & King LLC acquired a new position in American Tower during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

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