American Tower Co. (NYSE:AMT) Given Average Recommendation of “Hold” by Analysts

Shares of American Tower Co. (NYSE:AMTGet Rating) have been assigned an average recommendation of “Hold” from the sixteen analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $288.92.

A number of brokerages have issued reports on AMT. Credit Suisse Group reduced their price objective on American Tower from $325.00 to $300.00 and set an “outperform” rating for the company in a research note on Tuesday, March 1st. Wells Fargo & Company upped their price target on American Tower from $250.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, March 11th. Morgan Stanley increased their price objective on American Tower from $274.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, April 7th. Cowen dropped their price objective on American Tower from $350.00 to $325.00 in a report on Friday, February 25th. Finally, Raymond James dropped their price objective on American Tower from $294.00 to $279.00 and set an “outperform” rating on the stock in a report on Monday, February 28th.

In other American Tower news, CFO Rodney M. Smith sold 25,389 shares of American Tower stock in a transaction on Thursday, April 21st. The stock was sold at an average price of $270.00, for a total transaction of $6,855,030.00. Following the completion of the transaction, the chief financial officer now owns 52,398 shares in the company, valued at $14,147,460. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of American Tower by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 59,982,344 shares of the real estate investment trust’s stock worth $15,068,764,000 after purchasing an additional 824,408 shares in the last quarter. BlackRock Inc. grew its holdings in shares of American Tower by 6.7% in the fourth quarter. BlackRock Inc. now owns 36,636,712 shares of the real estate investment trust’s stock worth $10,716,237,000 after acquiring an additional 2,302,202 shares during the period. State Street Corp grew its holdings in shares of American Tower by 7.9% in the first quarter. State Street Corp now owns 21,253,223 shares of the real estate investment trust’s stock worth $5,339,235,000 after acquiring an additional 1,550,683 shares during the period. Cohen & Steers Inc. grew its holdings in shares of American Tower by 27.5% in the first quarter. Cohen & Steers Inc. now owns 19,680,735 shares of the real estate investment trust’s stock worth $4,944,107,000 after acquiring an additional 4,239,151 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of American Tower by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 8,675,143 shares of the real estate investment trust’s stock worth $2,531,637,000 after acquiring an additional 136,713 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.

NYSE AMT opened at $233.25 on Friday. The business has a 50 day simple moving average of $246.83 and a 200 day simple moving average of $254.05. American Tower has a one year low of $220.00 and a one year high of $303.72. The stock has a market capitalization of $106.43 billion, a P/E ratio of 40.35, a P/E/G ratio of 2.32 and a beta of 0.49. The company has a debt-to-equity ratio of 4.12, a current ratio of 0.51 and a quick ratio of 0.51.

American Tower (NYSE:AMTGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The real estate investment trust reported $1.56 EPS for the quarter, missing the consensus estimate of $2.41 by ($0.85). The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.61 billion. American Tower had a net margin of 26.72% and a return on equity of 30.44%. The company’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.46 EPS. Equities analysts expect that American Tower will post 9.68 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 8th. Shareholders of record on Friday, June 17th will be paid a dividend of $1.43 per share. This is a boost from American Tower’s previous quarterly dividend of $1.40. The ex-dividend date is Thursday, June 16th. This represents a $5.72 dividend on an annualized basis and a yield of 2.45%. American Tower’s payout ratio is presently 96.89%.

About American Tower (Get Rating)

American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.

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Analyst Recommendations for American Tower (NYSE:AMT)

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