Analysts Set American Tower Co. (NYSE:AMT) Target Price at $221.67

Shares of American Tower Co. (NYSE:AMTGet Free Report) have been given a consensus rating of “Moderate Buy” by the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $221.67.

AMT has been the subject of several recent research reports. BMO Capital Markets cut their price target on American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Barclays cut their price target on American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Raymond James raised American Tower from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $226.00 to $248.00 in a report on Wednesday, May 1st. Morgan Stanley increased their target price on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, Scotiabank dropped their target price on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a report on Wednesday, May 1st.

View Our Latest Analysis on American Tower

American Tower Trading Down 0.1 %

American Tower stock opened at $195.96 on Wednesday. The business has a 50 day moving average price of $191.27 and a two-hundred day moving average price of $194.09. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. The stock has a market cap of $91.51 billion, a price-to-earnings ratio of 44.33, a price-to-earnings-growth ratio of 1.40 and a beta of 0.81. American Tower has a 12 month low of $154.58 and a 12 month high of $219.10.

American Tower (NYSE:AMTGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The company’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the company earned $2.54 EPS. As a group, equities analysts forecast that American Tower will post 10.03 EPS for the current year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a yield of 3.31%. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

Insider Buying and Selling

In related news, EVP Sanjay Goel sold 3,504 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the sale, the executive vice president now directly owns 28,413 shares in the company, valued at approximately $5,692,828.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Robert D. Hormats sold 700 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the sale, the director now directly owns 7,332 shares in the company, valued at approximately $1,345,422. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sanjay Goel sold 3,504 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total value of $702,061.44. Following the sale, the executive vice president now owns 28,413 shares in the company, valued at $5,692,828.68. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AMT. Norges Bank bought a new position in American Tower in the 4th quarter valued at $1,051,898,000. Wellington Management Group LLP boosted its position in American Tower by 21.9% in the 4th quarter. Wellington Management Group LLP now owns 15,823,622 shares of the real estate investment trust’s stock valued at $3,416,004,000 after buying an additional 2,839,570 shares during the last quarter. Principal Financial Group Inc. boosted its position in American Tower by 36.2% in the 1st quarter. Principal Financial Group Inc. now owns 8,794,776 shares of the real estate investment trust’s stock valued at $1,737,760,000 after buying an additional 2,336,501 shares during the last quarter. Edgewood Management LLC boosted its position in American Tower by 46.2% in the 4th quarter. Edgewood Management LLC now owns 4,985,879 shares of the real estate investment trust’s stock valued at $1,076,352,000 after buying an additional 1,576,683 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in American Tower by 41.0% in the 4th quarter. Jennison Associates LLC now owns 5,299,306 shares of the real estate investment trust’s stock valued at $1,144,014,000 after buying an additional 1,541,029 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for American Tower (NYSE:AMT)

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