Shares of American Tower Corp (NYSE:AMT) have been given a consensus recommendation of “Hold” by the twenty analysts that are covering the company, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $186.80.
A number of equities research analysts have recently commented on the stock. UBS Group reaffirmed a “buy” rating on shares of Fortis in a report on Friday, June 7th. Bank of America set a $47.00 price target on shares of Yandex and gave the stock a “buy” rating in a report on Tuesday, March 19th. SunTrust Banks reissued a “hold” rating on shares of Tripadvisor in a report on Monday, May 6th. Wells Fargo & Co increased their price target on shares of Sempra Energy from $137.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Finally, Morgan Stanley increased their price target on shares of United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, May 20th.
In related news, Chairman James D. Taiclet, Jr. sold 23,726 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $195.50, for a total transaction of $4,638,433.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP William H. Hess sold 12,768 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $192.60, for a total transaction of $2,459,116.80. Following the sale, the executive vice president now owns 62,663 shares in the company, valued at approximately $12,068,893.80. The disclosure for this sale can be found here. Insiders sold 292,222 shares of company stock worth $58,358,826 over the last quarter. Company insiders own 0.75% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cable Hill Partners LLC raised its stake in shares of American Tower by 61.9% in the 1st quarter. Cable Hill Partners LLC now owns 136 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 52 shares during the period. Reilly Financial Advisors LLC raised its stake in shares of American Tower by 15.3% in the 1st quarter. Reilly Financial Advisors LLC now owns 406 shares of the real estate investment trust’s stock valued at $80,000 after acquiring an additional 54 shares during the period. Webster Bank N. A. raised its stake in shares of American Tower by 4.9% in the 1st quarter. Webster Bank N. A. now owns 1,247 shares of the real estate investment trust’s stock valued at $246,000 after acquiring an additional 58 shares during the period. Resources Investment Advisors Inc. raised its stake in shares of American Tower by 7.6% in the 1st quarter. Resources Investment Advisors Inc. now owns 820 shares of the real estate investment trust’s stock valued at $162,000 after acquiring an additional 58 shares during the period. Finally, Conning Inc. raised its stake in shares of American Tower by 0.6% in the 1st quarter. Conning Inc. now owns 10,652 shares of the real estate investment trust’s stock valued at $2,099,000 after acquiring an additional 60 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.
NYSE AMT traded down $0.28 during trading hours on Friday, hitting $208.98. The company had a trading volume of 1,263,300 shares, compared to its average volume of 1,789,259. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 4.31. American Tower has a 1-year low of $138.51 and a 1-year high of $218.79. The stock has a market cap of $92.13 billion, a P/E ratio of 26.16, a PEG ratio of 1.73 and a beta of 0.49. The firm has a 50 day moving average of $209.14.
American Tower (NYSE:AMT) last released its quarterly earnings data on Friday, May 3rd. The real estate investment trust reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.04. American Tower had a net margin of 17.95% and a return on equity of 22.61%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the firm posted $0.63 earnings per share. American Tower’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, sell-side analysts predict that American Tower will post 7.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Wednesday, June 19th will be given a $0.92 dividend. The ex-dividend date of this dividend is Tuesday, June 18th. This is a positive change from American Tower’s previous quarterly dividend of $0.90. This represents a $3.68 annualized dividend and a dividend yield of 1.76%. American Tower’s dividend payout ratio is currently 46.06%.
American Tower Company Profile
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 approximately 171,000 communications sites.
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