American Tower (AMT) Price Target Raised to $185.00

American Tower (NYSE:AMT) had its target price upped by Morgan Stanley from $170.00 to $185.00 in a research report released on Monday morning. The firm currently has an equal weight rating on the real estate investment trust’s stock.

A number of other analysts also recently issued reports on AMT. Wells Fargo & Co increased their price target on shares of American Tower from $173.00 to $176.00 and gave the stock an outperform rating in a report on Friday, November 16th. Moffett Nathanson downgraded shares of American Tower from a buy rating to a neutral rating and set a $164.00 price target on the stock. in a report on Monday, December 3rd. KeyCorp increased their price target on shares of American Tower from $170.00 to $180.00 and gave the stock an overweight rating in a report on Tuesday, February 12th. Oppenheimer reissued a market perform rating and set a $173.00 price target on shares of American Tower in a report on Thursday, February 28th. They noted that the move was a valuation call. Finally, Macquarie reissued a buy rating and set a $210.00 price target on shares of American Tower in a report on Thursday, February 28th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $174.63.

NYSE:AMT opened at $187.97 on Monday. The firm has a market capitalization of $81.94 billion, a PE ratio of 26.27, a price-to-earnings-growth ratio of 1.76 and a beta of 0.67. American Tower has a 1-year low of $133.53 and a 1-year high of $188.04. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 3.12.



American Tower (NYSE:AMT) last released its quarterly earnings data on Wednesday, February 27th. The real estate investment trust reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.25 by ($1.63). American Tower had a return on equity of 19.86% and a net margin of 16.62%. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the company earned $0.51 EPS. The firm’s revenue was up 25.0% compared to the same quarter last year. Research analysts predict that American Tower will post 7.53 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Thursday, April 11th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.92%. This is an increase from American Tower’s previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, April 10th.

In other American Tower news, EVP William H. Hess sold 20,000 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $186.97, for a total transaction of $3,739,400.00. Following the transaction, the executive vice president now directly owns 92,231 shares of the company’s stock, valued at $17,244,430.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Samme L. Thompson sold 2,000 shares of the stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $157.11, for a total transaction of $314,220.00. Following the transaction, the director now directly owns 20,625 shares in the company, valued at $3,240,393.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 88,084 shares of company stock worth $14,996,082. Insiders own 0.87% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of AMT. Quantamental Technologies LLC purchased a new position in American Tower during the fourth quarter valued at $25,000. Lavaca Capital LLC purchased a new position in American Tower during the fourth quarter valued at $27,000. Acima Private Wealth LLC purchased a new position in American Tower during the fourth quarter valued at $27,000. WESPAC Advisors SoCal LLC purchased a new position in American Tower during the fourth quarter valued at $27,000. Finally, Citizens Financial Group Inc RI lifted its holdings in American Tower by 62.0% during the fourth quarter. Citizens Financial Group Inc RI now owns 196 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 75 shares in the last quarter. 94.11% of the stock is currently owned by institutional investors and hedge funds.

About American Tower

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 170,000 communications sites.

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Analyst Recommendations for American Tower (NYSE:AMT)

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