American Tower Corp (NYSE:AMT) announced a quarterly dividend on Wednesday, December 4th, StockRatingsNetwork.com reports. Shareholders of record on Monday, December 16th will be paid a dividend of 0.29 per share on Tuesday, December 31st. This represents a $1.16 annualized dividend and a dividend yield of 1.50%.
A number of analysts have recently weighed in on AMT shares. Analysts at Macquarie raised their price target on shares of American Tower Corp from $88.00 to $91.00 in a research note to investors on Thursday, November 14th. On the ratings front, analysts at Citigroup Inc. upgraded shares of American Tower Corp from a “neutral” rating to a “buy” rating in a research note to investors on Monday, November 11th. They now have a $89.00 price target on the stock. Finally, analysts at Stifel Nicolaus raised their price target on shares of American Tower Corp from $90.00 to $95.00 in a research note to investors on Friday, November 1st. They now have a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. American Tower Corp has a consensus rating of “Buy” and a consensus target price of $91.16.
Shares of American Tower Corp (NYSE:AMT) traded down 0.36% on Wednesday, hitting $77.43. 2,197,178 shares of the company’s stock traded hands. American Tower Corp has a 52-week low of $67.89 and a 52-week high of $85.26. The stock has a 50-day moving average of $78.64 and a 200-day moving average of $74.94. The company has a market cap of $30.557 billion and a price-to-earnings ratio of 52.86.
American Tower Corp (NYSE:AMT) last announced its earnings results on Wednesday, October 30th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by $0.08. The company had revenue of $807.90 million for the quarter, compared to the consensus estimate of $822.04 million. During the same quarter in the prior year, the company posted $0.58 earnings per share. The company’s quarterly revenue was up 13.3% on a year-over-year basis. On average, analysts predict that American Tower Corp will post $1.64 earnings per share for the current fiscal year.
In other American Tower Corp news, Director Pamela Reeve sold 10,000 shares of the stock on the open market in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $78.28, for a total value of $782,800.00. Following the completion of the transaction, the director now directly owns 8,135 shares of the company’s stock, valued at approximately $636,808. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
American Tower Corporation is a holding company. The Company conducts its operations through its directly and indirectly owned subsidiaries and joint ventures.
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