American Tower Corporation (NYSE:AMT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of American Tower Corporation (NYSE:AMT) have been given a consensus rating of “Moderate Buy” by the nineteen analysts that are covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $218.7895.

Several research firms have recently commented on AMT. Argus set a $210.00 price target on shares of American Tower in a report on Thursday, October 30th. Barclays restated an “equal weight” rating and issued a $200.00 target price (down previously from $203.00) on shares of American Tower in a research note on Monday, December 1st. New Street Research raised American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price target for the company in a research note on Monday, January 5th. Morgan Stanley lowered their price target on American Tower from $255.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, December 4th. Finally, HSBC cut their price objective on shares of American Tower from $235.00 to $205.00 in a research report on Wednesday, October 29th.

Insider Activity

In related news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total value of $159,631,314.75. Following the completion of the sale, the insider directly owned 211,379 shares in the company, valued at approximately $14,743,685.25. This represents a 91.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Institutional Trading of American Tower

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of American Tower by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 63,640,168 shares of the real estate investment trust’s stock valued at $12,239,277,000 after acquiring an additional 611,801 shares in the last quarter. J. Stern & Co. LLP raised its position in shares of American Tower by 28,121.1% in the fourth quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock valued at $6,616,703,000 after purchasing an additional 37,553,436 shares during the period. State Street Corp lifted its stake in shares of American Tower by 0.3% in the fourth quarter. State Street Corp now owns 20,987,534 shares of the real estate investment trust’s stock worth $3,719,634,000 after buying an additional 71,605 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of American Tower by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 13,499,035 shares of the real estate investment trust’s stock worth $2,361,675,000 after buying an additional 227,361 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in American Tower by 24.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock valued at $2,799,458,000 after buying an additional 2,474,328 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT opened at $187.28 on Monday. The company has a market capitalization of $87.67 billion, a PE ratio of 29.92, a PEG ratio of 0.78 and a beta of 0.93. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.89 and a current ratio of 0.89. The company’s 50 day moving average price is $178.02 and its 200 day moving average price is $186.05. American Tower has a 52 week low of $166.88 and a 52 week high of $234.33.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, December 29th were issued a dividend of $1.70 per share. The ex-dividend date was Monday, December 29th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. American Tower’s dividend payout ratio (DPR) is currently 108.63%.

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.