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

American Tower Co. (NYSE:AMTGet Rating) has been assigned an average rating of “Moderate Buy” from the nineteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $266.06.

Several analysts recently commented on AMT shares. Truist Financial dropped their price target on shares of American Tower from $325.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, January 13th. The Goldman Sachs Group raised shares of American Tower from a “neutral” rating to a “buy” rating and increased their price objective for the company from $215.00 to $245.00 in a report on Tuesday, January 10th. Morgan Stanley increased their price objective on shares of American Tower from $219.00 to $224.00 and gave the company an “equal weight” rating in a report on Monday. Deutsche Bank Aktiengesellschaft raised shares of American Tower from a “hold” rating to a “buy” rating and increased their price objective for the company from $240.00 to $254.00 in a report on Thursday, January 12th. Finally, Raymond James increased their price objective on shares of American Tower from $219.00 to $233.00 and gave the company a “market outperform” rating in a report on Wednesday, November 23rd.

Insider Transactions at American Tower

In other American Tower news, Director Raymond P. Dolan sold 1,619 shares of American Tower stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $233.92, for a total transaction of $378,716.48. Following the transaction, the director now directly owns 17,473 shares of the company’s stock, valued at $4,087,284.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other American Tower news, Director Raymond P. Dolan sold 1,619 shares of American Tower stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $233.92, for a total transaction of $378,716.48. Following the transaction, the director now directly owns 17,473 shares of the company’s stock, valued at $4,087,284.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joann A. Reed sold 1,231 shares of American Tower stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $204.88, for a total transaction of $252,207.28. Following the transaction, the director now directly owns 54,554 shares in the company, valued at $11,177,023.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,079 shares of company stock valued at $9,071,929. Corporate insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On American Tower

Institutional investors have recently bought and sold shares of the company. BCK Partners Inc. acquired a new stake in shares of American Tower during the first quarter valued at about $2,892,000. Fairfield Bush & CO. increased its position in shares of American Tower by 138.9% during the first quarter. Fairfield Bush & CO. now owns 2,829 shares of the real estate investment trust’s stock valued at $711,000 after acquiring an additional 1,645 shares during the last quarter. Cetera Investment Advisers increased its position in shares of American Tower by 5.7% during the first quarter. Cetera Investment Advisers now owns 14,413 shares of the real estate investment trust’s stock valued at $3,621,000 after acquiring an additional 771 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of American Tower by 33.5% during the first quarter. Sequoia Financial Advisors LLC now owns 3,015 shares of the real estate investment trust’s stock valued at $757,000 after acquiring an additional 756 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its position in shares of American Tower by 1.4% during the first quarter. Loomis Sayles & Co. L P now owns 152,723 shares of the real estate investment trust’s stock valued at $38,367,000 after acquiring an additional 2,071 shares during the last quarter. 89.65% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Down 0.2 %

AMT stock opened at $215.17 on Wednesday. The firm has a market cap of $100.18 billion, a PE ratio of 34.15, a P/E/G ratio of 2.02 and a beta of 0.54. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.75 and a current ratio of 0.75. The firm’s fifty day moving average is $217.67 and its 200 day moving average is $230.48. American Tower has a one year low of $178.17 and a one year high of $282.47.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 2nd. Stockholders of record on Wednesday, December 28th will be paid a $1.56 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.47. This represents a $6.24 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Tuesday, December 27th. American Tower’s dividend payout ratio (DPR) is currently 99.05%.

About American Tower

(Get Rating)

American Tower Corp. provides real estate investment services, and owns, operates, and develops multi-tenant real estate properties. It operates through the following segments: U.S. & Canada, Asia-Pacific, Europe, Africa Latin America, and Services. The Asia-Pacific segment refers to the operations in Australia and India.

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Analyst Recommendations for American Tower (NYSE:AMT)

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