American Tower Co. (NYSE:AMT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

American Tower Co. (NYSE:AMTGet Rating) has been assigned a consensus rating of “Moderate Buy” from the sixteen analysts that are covering the stock, MarketBeat.com reports. Four equities research analysts have 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 updated their coverage on the stock in the last year is $291.29.

A number of analysts have commented on AMT shares. KeyCorp boosted their target price on American Tower from $283.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 2nd. Bank of America began coverage on shares of American Tower in a research report on Sunday, June 5th. They set a “buy” rating and a $315.00 price target for the company. Morgan Stanley upped their price target on shares of American Tower from $252.00 to $257.00 and gave the stock an “equal weight” rating in a research report on Friday, September 16th. Royal Bank of Canada upped their price objective on shares of American Tower from $282.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, August 4th. Finally, Citigroup cut their target price on shares of American Tower from $300.00 to $290.00 and set a “buy” rating on the stock in a research note on Monday, July 18th.

Insider Transactions at American Tower

In related news, Director Robert D. Hormats sold 150 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $254.53, for a total value of $38,179.50. Following the completion of the transaction, the director now owns 6,571 shares in the company, valued at approximately $1,672,516.63. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On American Tower

Several large investors have recently bought and sold shares of AMT. Charter Oak Capital Management LLC purchased a new stake in American Tower in the second quarter worth approximately $26,000. Canton Hathaway LLC purchased a new stake in shares of American Tower in the second quarter worth $29,000. Pinnacle Holdings LLC purchased a new stake in shares of American Tower in the first quarter worth $29,000. Eagle Bay Advisors LLC purchased a new stake in shares of American Tower during the second quarter valued at $30,000. Finally, Financial Management Professionals Inc. lifted its holdings in American Tower by 63.5% in the second quarter. Financial Management Professionals Inc. now owns 121 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 47 shares during the period. 91.03% of the stock is currently owned by institutional investors.

American Tower Trading Down 1.6 %

Shares of AMT opened at $234.15 on Thursday. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $109.02 billion, a price-to-earnings ratio of 38.51, a PEG ratio of 2.25 and a beta of 0.48. The company has a 50-day moving average of $262.18 and a 200 day moving average of $253.61. American Tower has a 1-year low of $220.00 and a 1-year high of $294.92.

American Tower (NYSE:AMTGet Rating) last posted its earnings results on Thursday, July 28th. The real estate investment trust reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.99. The firm had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.64 billion. American Tower had a net margin of 27.23% and a return on equity of 28.93%. The business’s revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.42 EPS. On average, research analysts expect that American Tower will post 9.47 EPS for the current year.

American Tower Company Profile

(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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