American Tower Co. (NYSE:AMT) Receives $233.29 Average PT from Analysts

by · The Cerbat Gem

Shares of American Tower Co. (NYSE:AMT – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $233.29.

Several equities analysts have commented on the stock. Scotiabank increased their price target on shares of American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 31st. TD Cowen lifted their price target on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada lifted their target price on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Finally, Wells Fargo & Company upped their target price on American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st.

View Our Latest Analysis on AMT

American Tower Trading Up 1.2 %

Shares of NYSE:AMT opened at $235.16 on Monday. The company has a market cap of $109.81 billion, a PE ratio of 53.20, a P/E/G ratio of 1.60 and a beta of 0.83. The company’s 50 day moving average is $224.57 and its two-hundred day moving average is $202.44. American Tower has a 52 week low of $154.58 and a 52 week high of $243.56. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42.

American Tower (NYSE:AMT – Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the prior year, the business earned $2.46 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts predict that American Tower will post 10.13 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be given a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 2.76%. American Tower’s dividend payout ratio (DPR) is 146.61%.

Insiders Place Their Bets

In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $232.93, for a total value of $508,020.33. Following the sale, the chief accounting officer now owns 31,873 shares of the company’s stock, valued at $7,424,177.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the completion of the sale, the chief accounting officer now directly owns 31,873 shares of the company’s stock, valued at approximately $7,424,177.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the transaction, the executive vice president now directly owns 51,746 shares in the company, valued at approximately $12,070,789.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,723 shares of company stock worth $7,795,397. 0.18% of the stock is owned by insiders.

Institutional Trading of American Tower

A number of institutional investors have recently added to or reduced their stakes in the stock. Allstate Corp lifted its position in shares of American Tower by 3.1% during the 4th quarter. Allstate Corp now owns 1,750 shares of the real estate investment trust’s stock valued at $378,000 after acquiring an additional 53 shares during the period. NBT Bank N A NY raised its holdings in American Tower by 3.3% during the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock worth $329,000 after purchasing an additional 54 shares during the last quarter. O Brien Greene & Co. Inc boosted its position in American Tower by 2.3% during the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock worth $481,000 after purchasing an additional 55 shares in the last quarter. Glassman Wealth Services increased its position in shares of American Tower by 4.7% in the fourth quarter. Glassman Wealth Services now owns 1,242 shares of the real estate investment trust’s stock valued at $268,000 after buying an additional 56 shares in the last quarter. Finally, CFO4Life Group LLC increased its position in shares of American Tower by 5.4% in the first quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

About American Tower

(Get Free Report

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.

See Also