Analysts Set American Tower Co. (NYSE:AMT) Price Target at $235.54

Shares of American Tower Co. (NYSE:AMT - Get Free Report) have received an average rating of "Moderate Buy" from the thirteen ratings firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $235.54.

Several research firms have recently commented on AMT. Scotiabank cut their price target on American Tower from $248.00 to $236.00 and set a "sector outperform" rating for the company in a research note on Wednesday, October 30th. BMO Capital Markets cut their price target on American Tower from $255.00 to $245.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. StockNews.com cut American Tower from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Barclays cut their price target on American Tower from $255.00 to $251.00 and set an "overweight" rating for the company in a research note on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on American Tower from $212.00 to $235.00 and gave the stock a "buy" rating in a research note on Wednesday, August 14th.

American Tower Price Performance

Shares of NYSE AMT opened at $209.00 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower has a twelve month low of $170.46 and a twelve month high of $243.56. The stock has a 50 day moving average of $215.95 and a two-hundred day moving average of $212.29. The stock has a market cap of $97.66 billion, a P/E ratio of 88.19, a P/E/G ratio of 1.39 and a beta of 0.84.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts' consensus estimates of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.77 billion. During the same quarter in the prior year, the firm posted $2.58 EPS. American Tower's quarterly revenue was down 10.5% compared to the same quarter last year. On average, research analysts forecast that American Tower will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.10%. The ex-dividend date was Wednesday, October 9th. American Tower's dividend payout ratio (DPR) is 273.42%.

Institutional Trading of American Tower

Large investors have recently bought and sold shares of the company. Fortitude Family Office LLC grew its holdings in American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. Fairscale Capital LLC acquired a new stake in American Tower in the second quarter valued at $27,000. Northwest Investment Counselors LLC acquired a new stake in American Tower in the third quarter valued at $30,000. Cultivar Capital Inc. acquired a new stake in American Tower in the second quarter valued at $25,000. Finally, Hara Capital LLC acquired a new stake in shares of American Tower during the third quarter valued at $31,000. Institutional investors and hedge funds own 92.69% of the company's stock.

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 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.