KeyCorp Brokers Lower Earnings Estimates for American Tower Co. (NYSE:AMT)

American Tower Co. (NYSE:AMTGet Rating) – Stock analysts at KeyCorp reduced their FY2022 EPS estimates for shares of American Tower in a research note issued to investors on Sunday, January 22nd. KeyCorp analyst B. Nispel now forecasts that the real estate investment trust will post earnings of $9.26 per share for the year, down from their previous forecast of $9.30. KeyCorp has a “Overweight” rating and a $252.00 price objective on the stock. The consensus estimate for American Tower’s current full-year earnings is $9.28 per share. KeyCorp also issued estimates for American Tower’s Q4 2022 earnings at $2.10 EPS, Q1 2023 earnings at $2.23 EPS, Q2 2023 earnings at $2.32 EPS, Q3 2023 earnings at $2.32 EPS, Q4 2023 earnings at $2.36 EPS, FY2023 earnings at $9.23 EPS and FY2024 earnings at $9.95 EPS.

Several other analysts have also recently issued reports on the stock. UBS Group dropped their price objective on shares of American Tower from $278.00 to $270.00 in a research note on Tuesday, December 13th. Deutsche Bank Aktiengesellschaft upgraded American Tower from a “hold” rating to a “buy” rating and lifted their price target for the stock from $240.00 to $254.00 in a report on Thursday, January 12th. TheStreet lowered American Tower from a “b” rating to a “c+” rating in a research report on Thursday, October 13th. Wells Fargo & Company raised their price objective on American Tower from $225.00 to $245.00 in a research report on Wednesday, December 14th. Finally, Credit Suisse Group cut their price objective on American Tower to $251.00 in a research report on Thursday, October 27th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and a consensus target price of $266.06.

American Tower Stock Down 0.2 %

Shares of NYSE AMT opened at $215.17 on Tuesday. American Tower has a 12-month low of $178.17 and a 12-month high of $282.47. The stock 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 current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 2.87. The company has a 50-day moving average of $217.67 and a 200 day moving average of $230.48.

American Tower Increases Dividend

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

Insider Activity at American Tower

In related news, Director Joann A. Reed sold 1,231 shares of the firm’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $204.88, for a total value of $252,207.28. Following the completion of the sale, the director now owns 54,554 shares in the company, valued at $11,177,023.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other American Tower news, Director Joann A. Reed sold 1,231 shares of the company’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $204.88, for a total value of $252,207.28. Following the sale, the director now owns 54,554 shares of the company’s stock, valued at $11,177,023.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Edmund Disanto sold 35,000 shares of the company’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $207.20, for a total value of $7,252,000.00. Following the completion of the sale, the executive vice president now directly owns 157,685 shares in the company, valued at approximately $32,672,332. The disclosure for this sale can be found here. Insiders sold 43,079 shares of company stock worth $9,071,929 over the last 90 days. Company insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On American Tower

Several hedge funds have recently added to or reduced their stakes in AMT. Bill Few Associates Inc. raised its position in shares of American Tower by 1.8% during the 4th quarter. Bill Few Associates Inc. now owns 16,200 shares of the real estate investment trust’s stock worth $3,432,000 after purchasing an additional 283 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of American Tower by 331.0% in the fourth quarter. International Assets Investment Management LLC now owns 15,482 shares of the real estate investment trust’s stock valued at $709,000 after acquiring an additional 11,890 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in shares of American Tower in the fourth quarter valued at $6,320,000. Sigma Planning Corp lifted its position in shares of American Tower by 2.5% in the fourth quarter. Sigma Planning Corp now owns 9,228 shares of the real estate investment trust’s stock valued at $1,955,000 after acquiring an additional 222 shares in the last quarter. Finally, Aevitas Wealth Management Inc. lifted its position in shares of American Tower by 2.1% in the fourth quarter. Aevitas Wealth Management Inc. now owns 5,976 shares of the real estate investment trust’s stock valued at $1,266,000 after acquiring an additional 125 shares in the last quarter. 89.65% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Company Profile

(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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Earnings History and Estimates for American Tower (NYSE:AMT)

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