American Tower Co. (NYSE:AMT) Receives $226.23 Average PT from Brokerages

Shares of American Tower Co. (NYSE:AMT - Get Free Report) have received an average recommendation of "Moderate Buy" from the fifteen analysts that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $225.79.

AMT has been the topic of a number of recent analyst reports. Barclays lowered their price target on shares of American Tower from $215.00 to $214.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Scotiabank lowered their target price on shares of American Tower from $236.00 to $220.00 and set a "sector outperform" rating on the stock in a research note on Thursday, January 23rd. JMP Securities initiated coverage on shares of American Tower in a research note on Monday, January 27th. They issued an "outperform" rating and a $225.00 target price on the stock. StockNews.com downgraded shares of American Tower from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered their target price 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.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.18% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. DoubleLine ETF Adviser LP grew its holdings in shares of American Tower by 0.5% in the fourth quarter. DoubleLine ETF Adviser LP now owns 33,331 shares of the real estate investment trust's stock worth $6,113,000 after purchasing an additional 151 shares during the last quarter. South Plains Financial Inc. purchased a new stake in American Tower in the fourth quarter worth $100,000. Mercer Global Advisors Inc. ADV lifted its stake in American Tower by 13.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 36,764 shares of the real estate investment trust's stock worth $6,743,000 after acquiring an additional 4,462 shares during the period. Keel Point LLC lifted its stake in American Tower by 5.9% in the fourth quarter. Keel Point LLC now owns 2,191 shares of the real estate investment trust's stock worth $402,000 after acquiring an additional 122 shares during the period. Finally, FAS Wealth Partners Inc. lifted its stake in American Tower by 3.7% in the fourth quarter. FAS Wealth Partners Inc. now owns 11,246 shares of the real estate investment trust's stock worth $2,063,000 after acquiring an additional 406 shares during the period. Institutional investors own 92.69% of the company's stock.

American Tower Price Performance

Shares of American Tower stock traded down $0.58 on Thursday, reaching $189.41. The stock had a trading volume of 1,776,002 shares, compared to its average volume of 2,051,496. American Tower has a 1 year low of $170.46 and a 1 year high of $243.56. The company has a market cap of $88.51 billion, a P/E ratio of 79.92, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The business's 50 day moving average is $186.70 and its two-hundred day moving average is $208.79.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend was Friday, December 27th. American Tower's payout ratio is currently 273.42%.

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.