American Tower Co. (NYSE:AMT) Receives $225.21 Consensus Target Price from Brokerages

Shares of American Tower Co. (NYSE:AMT - Get Free Report) have been given a consensus rating of "Buy" by the sixteen analysts that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $226.29.

Several research analysts have issued reports on AMT shares. Citizens Jmp raised American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a report on Thursday, February 27th. JMP Securities initiated coverage on shares of American Tower in a report on Monday, January 27th. They set an "outperform" rating and a $225.00 target price for the company. The Goldman Sachs Group dropped their price target on shares of American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a research note on Thursday, December 12th. Finally, Wells Fargo & Company reduced their price objective on American Tower from $215.00 to $195.00 and set an "equal weight" rating for the company in a research note on Thursday, January 23rd.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by insiders.

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Institutional Investors Weigh In On American Tower

Hedge funds have recently modified their holdings of the business. Nordea Investment Management AB raised its stake in American Tower by 28.5% in the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust's stock worth $260,743,000 after buying an additional 314,769 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of American Tower in the 3rd quarter valued at $1,156,000. TigerOak Management L.L.C. bought a new position in shares of American Tower in the 4th quarter worth $1,102,000. Brookstone Capital Management lifted its stake in shares of American Tower by 29.0% during the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust's stock worth $1,629,000 after purchasing an additional 1,995 shares during the last quarter. Finally, CCLA Investment Management boosted its position in American Tower by 5.5% during the fourth quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust's stock valued at $79,344,000 after purchasing an additional 22,523 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Stock Up 0.5 %

NYSE AMT traded up $1.13 during mid-day trading on Monday, reaching $213.42. The stock had a trading volume of 4,156,506 shares, compared to its average volume of 2,234,941. The company has a fifty day moving average price of $189.60 and a 200 day moving average price of $206.21. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower has a 1 year low of $170.46 and a 1 year high of $243.56. The stock has a market cap of $99.77 billion, a PE ratio of 90.05, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.55 billion for the quarter, compared to analysts' expectations of $2.51 billion. During the same quarter in the prior year, the business earned $2.29 EPS. The business's revenue for the quarter was up 3.7% compared to the same quarter last year. On average, research analysts expect that American Tower will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be issued a $1.70 dividend. This is a positive change from American Tower's previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.19%. American Tower's payout ratio is presently 141.37%.

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.