American Tower Corporation (REIT) (AMT) Receives Average Rating of “Buy” from Analysts

Shares of American Tower Corporation (REIT) (NYSE:AMT) have received a consensus recommendation of “Buy” from the fourteen analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $136.64.

Several analysts have commented on the company. Zacks Investment Research lowered American Tower Corporation (REIT) from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. BidaskClub raised American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Stifel Nicolaus reissued a “buy” rating and issued a $150.00 price objective on shares of American Tower Corporation (REIT) in a report on Thursday. Raymond James Financial, Inc. reissued an “outperform” rating on shares of American Tower Corporation (REIT) in a report on Monday, June 12th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $136.00 target price on shares of American Tower Corporation (REIT) in a research report on Monday, April 3rd.

American Tower Corporation (NYSE:AMT) opened at 133.14 on Monday. The company has a 50-day moving average price of $130.68 and a 200-day moving average price of $117.71. The stock has a market capitalization of $56.59 billion, a PE ratio of 64.29 and a beta of 0.71. American Tower Corporation has a 12-month low of $99.72 and a 12-month high of $137.12.

American Tower Corporation (REIT) (NYSE:AMT) last issued its quarterly earnings data on Thursday, April 27th. The real estate investment trust reported $0.67 EPS for the quarter, missing the consensus estimate of $1.51 by $0.84. American Tower Corporation (REIT) had a net margin of 16.32% and a return on equity of 14.26%. The business had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the business posted $0.58 earnings per share. The firm’s revenue for the quarter was up 25.4% on a year-over-year basis. Analysts expect that American Tower Corporation will post $2.96 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Monday, June 19th will be given a dividend of $0.64 per share. This is an increase from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. The ex-dividend date is Thursday, June 15th. This represents a $2.56 dividend on an annualized basis and a yield of 1.92%. American Tower Corporation (REIT)’s dividend payout ratio (DPR) is presently 124.27%.

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In related news, Director Joann A. Reed sold 7,400 shares of American Tower Corporation (REIT) stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $126.87, for a total transaction of $938,838.00. Following the transaction, the director now owns 37,758 shares in the company, valued at $4,790,357.46. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Steven C. Marshall sold 20,548 shares of American Tower Corporation (REIT) stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $134.92, for a total value of $2,772,336.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 133,350 shares of company stock worth $17,042,690. 0.86% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of American Tower Corporation (REIT) by 3.8% in the first quarter. Vanguard Group Inc. now owns 27,561,482 shares of the real estate investment trust’s stock worth $3,349,823,000 after buying an additional 1,008,946 shares during the last quarter. Wellington Management Group LLP increased its position in shares of American Tower Corporation (REIT) by 8.4% in the first quarter. Wellington Management Group LLP now owns 21,788,278 shares of the real estate investment trust’s stock worth $2,648,146,000 after buying an additional 1,679,615 shares during the last quarter. Edgewood Management LLC increased its position in shares of American Tower Corporation (REIT) by 2.6% in the first quarter. Edgewood Management LLC now owns 5,925,839 shares of the real estate investment trust’s stock worth $720,226,000 after buying an additional 151,527 shares during the last quarter. American Century Companies Inc. increased its position in shares of American Tower Corporation (REIT) by 60.8% in the first quarter. American Century Companies Inc. now owns 3,986,977 shares of the real estate investment trust’s stock worth $484,577,000 after buying an additional 1,507,172 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of American Tower Corporation (REIT) by 8.7% in the first quarter. Geode Capital Management LLC now owns 3,789,461 shares of the real estate investment trust’s stock worth $459,850,000 after buying an additional 303,425 shares during the last quarter. Hedge funds and other institutional investors own 93.20% of the company’s stock.

About American Tower Corporation (REIT)

American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

Analyst Recommendations for American Tower Corporation (REIT) (NYSE:AMT)

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