American Tower Co. (NYSE:AMT) Given Average Recommendation of “Moderate Buy” by Brokerages

by · The Markets Daily

American Tower Co. (NYSE:AMT – Get Free Report) has received an average rating of “Moderate Buy” from the twelve analysts that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $235.08.

Several analysts recently commented on AMT shares. Mizuho upped their price target on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Scotiabank cut their price objective on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. Barclays cut their price objective on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets reduced their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th.

View Our Latest Analysis on AMT

Hedge Funds Weigh In On American Tower

A number of large investors have recently modified their holdings of the stock. FMR LLC increased its position in shares of American Tower by 25.4% in the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after buying an additional 2,152,646 shares in the last quarter. Ameriprise Financial Inc. raised its position in American Tower by 41.8% during the second quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after acquiring an additional 1,885,421 shares in the last quarter. Adelante Capital Management LLC lifted its stake in American Tower by 2,723.4% in the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock valued at $279,890,000 after purchasing an additional 1,160,890 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of American Tower by 23,224.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock worth $231,941,000 after acquiring an additional 993,061 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in shares of American Tower by 22,242.7% in the third quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock valued at $1,811,330,000 after purchasing an additional 775,379 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Performance

AMT opened at $183.41 on Wednesday. American Tower has a twelve month low of $170.46 and a twelve month high of $243.56. The firm has a market capitalization of $85.71 billion, a PE ratio of 77.39, a PEG ratio of 1.31 and a beta of 0.83. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm’s 50-day moving average price is $201.23 and its 200 day moving average price is $212.71.

American Tower (NYSE:AMT – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The company had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.58 EPS. As a group, sell-side analysts expect that American Tower will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s payout ratio is currently 273.42%.

American Tower Company Profile

(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.

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