Shares of American Tower Co. (NYSE:AMT – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $217.55.
Several research firms recently weighed in on AMT. HSBC assumed coverage on shares of American Tower in a research note on Thursday, December 14th. They set a “buy” rating and a $245.00 price objective on the stock. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. reduced their price target on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. BMO Capital Markets dropped their price objective on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Finally, Barclays boosted their target price on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th.
Read Our Latest Research Report on AMT
Insiders Place Their Bets
Institutional Investors Weigh In On American Tower
Several hedge funds have recently modified their holdings of AMT. McClarren Financial Advisors Inc. bought a new stake in American Tower in the 3rd quarter valued at $27,000. Gold Investment Management Ltd. acquired a new stake in American Tower during the fourth quarter worth about $28,000. Emerald Advisers LLC bought a new position in American Tower during the third quarter valued at about $29,000. Thompson Investment Management Inc. acquired a new position in American Tower in the 4th quarter valued at approximately $29,000. Finally, Pinnacle Holdings LLC bought a new stake in shares of American Tower in the 1st quarter worth approximately $29,000. 92.69% of the stock is owned by institutional investors.
American Tower Trading Up 1.7 %
Shares of NYSE AMT opened at $197.40 on Monday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. The stock’s 50 day moving average price is $196.36 and its two-hundred day moving average price is $192.05. American Tower has a 52-week low of $154.58 and a 52-week high of $219.10. The stock has a market capitalization of $92.06 billion, a P/E ratio of 62.08, a PEG ratio of 1.35 and a beta of 0.68.
American Tower (NYSE:AMT – Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($1.16). The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.34 earnings per share. On average, analysts anticipate that American Tower will post 10.08 earnings per share for the current fiscal year.
American Tower Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.28%. The ex-dividend date is Thursday, April 11th. American Tower’s dividend payout ratio is presently 203.77%.
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.
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