American Tower Corporation (NYSE:AMT) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of American Tower Corporation (NYSE:AMT) have been assigned an average rating of “Moderate Buy” from the twenty ratings firms that are presently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $218.7895.

A number of analysts recently issued reports on the company. Jefferies Financial Group decreased their price objective on American Tower from $226.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, December 16th. TD Cowen lowered their price target on shares of American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. UBS Group cut their price objective on shares of American Tower from $260.00 to $254.00 and set a “buy” rating for the company in a research report on Tuesday, January 20th. Wall Street Zen upgraded American Tower from a “sell” rating to a “hold” rating in a research report on Sunday, October 12th. Finally, BMO Capital Markets lowered American Tower from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $210.00 to $185.00 in a report on Friday, January 9th.

American Tower Stock Performance

NYSE AMT opened at $177.34 on Thursday. The firm has a market cap of $83.02 billion, a P/E ratio of 28.33, a price-to-earnings-growth ratio of 0.75 and a beta of 0.92. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. The company’s 50 day moving average is $177.40 and its 200-day moving average is $190.88. American Tower has a 12-month low of $166.88 and a 12-month high of $234.33.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.65 billion. American Tower had a net margin of 28.11% and a return on equity of 28.79%. American Tower’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.52 EPS. Sell-side analysts predict that American Tower will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, December 29th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Monday, December 29th. American Tower’s dividend payout ratio (DPR) is presently 108.63%.

Insiders Place Their Bets

In other news, Director Eugene F. Reilly bought 5,554 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were purchased at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the acquisition, the director owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the sale, the insider directly owned 211,379 shares of the company’s stock, valued at $14,743,685.25. The trade was a 91.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On American Tower

A number of institutional investors have recently bought and sold shares of the stock. Legacy Investment Solutions LLC purchased a new position in shares of American Tower in the 2nd quarter valued at approximately $31,000. Abound Wealth Management lifted its position in American Tower by 137.3% during the third quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 81 shares during the period. Richards Merrill & Peterson Inc. bought a new stake in shares of American Tower during the 4th quarter valued at $25,000. Triumph Capital Management bought a new position in shares of American Tower in the 3rd quarter worth about $29,000. Finally, VSM Wealth Advisory LLC lifted its position in American Tower by 136.4% during the 2nd quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 90 shares during the period. 92.69% of the stock is owned by institutional investors.

American Tower Company Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.