Shares of American Tower Co. (NYSE:AMT – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $217.36.
Several research analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Mizuho initiated coverage on American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. Barclays boosted their price target on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Finally, BMO Capital Markets decreased their price objective on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th.
View Our Latest Research Report on AMT
Insider Buying and Selling
Institutional Trading of American Tower
Hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in American Tower during the fourth quarter valued at approximately $1,051,898,000. Wellington Management Group LLP grew its holdings in shares of American Tower by 21.9% during 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 purchasing an additional 2,839,570 shares during the last quarter. Edgewood Management LLC grew its holdings in shares of American Tower by 46.2% during 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 purchasing an additional 1,576,683 shares during the last quarter. Jennison Associates LLC raised 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 worth $1,144,014,000 after purchasing an additional 1,541,029 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in American Tower by 2,329.8% in the third quarter. Daiwa Securities Group Inc. now owns 1,329,779 shares of the real estate investment trust’s stock worth $218,682,000 after purchasing an additional 1,275,052 shares during the last quarter. 92.69% of the stock is owned by institutional investors.
American Tower Stock Performance
Shares of American Tower stock opened at $174.20 on Friday. American Tower has a 52 week low of $154.58 and a 52 week high of $219.10. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. The business has a 50 day moving average price of $191.24 and a 200-day moving average price of $194.19. The company has a market cap of $81.24 billion, a PE ratio of 54.78, a price-to-earnings-growth ratio of 1.35 and a beta of 0.67.
American Tower (NYSE:AMT – Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.34 earnings per share. Equities analysts anticipate that American Tower will post 9.94 earnings per share for the current fiscal year.
American Tower Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be given a $1.62 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.72%. American Tower’s dividend payout ratio (DPR) is currently 203.77%.
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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.
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