American Tower Co. (NYSE:AMT) Given Average Rating of “Moderate Buy” by Analysts

Shares of American Tower Co. (NYSE:AMT) have been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $217.36.

A number of research firms recently weighed in on AMT. Morgan Stanley increased their price target on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Barclays raised their target price 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. JPMorgan Chase & Co. cut their price target on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. 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 research note on Wednesday, February 28th. Finally, Mizuho initiated coverage on shares of American Tower in a research note on Monday, April 8th. They set a “neutral” rating and a $205.00 target price on the stock.

American Tower Stock Down 0.2 %

NYSE AMT opened at $172.96 on Friday. American Tower has a 12 month low of $154.58 and a 12 month high of $219.10. The company has a market capitalization of $80.66 billion, a P/E ratio of 54.39, a PEG ratio of 1.37 and a beta of 0.67. The company’s 50 day simple moving average is $190.60 and its 200 day simple moving average is $193.90. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($1.16). The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.34 EPS. Equities research analysts expect that American Tower will post 9.94 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.75%. The ex-dividend date is Thursday, April 11th. American Tower’s payout ratio is currently 203.77%.

Insider Activity

In related news, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the transaction, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the transaction, the chief financial officer now owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the sale, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American Tower

A number of institutional investors have recently modified their holdings of the company. Chicago Partners Investment Group LLC grew its stake in American Tower by 4.0% in the 1st quarter. Chicago Partners Investment Group LLC now owns 70,053 shares of the real estate investment trust’s stock valued at $13,842,000 after buying an additional 2,664 shares during the last quarter. Mesirow Financial Investment Management Inc. acquired a new stake in shares of American Tower in the first quarter valued at about $5,138,000. Checchi Capital Advisers LLC increased its stake in shares of American Tower by 6.0% in the first quarter. Checchi Capital Advisers LLC now owns 5,726 shares of the real estate investment trust’s stock worth $1,131,000 after purchasing an additional 325 shares during the period. Alta Capital Management LLC lifted its position in shares of American Tower by 9.1% during the 1st quarter. Alta Capital Management LLC now owns 18,324 shares of the real estate investment trust’s stock worth $3,621,000 after purchasing an additional 1,526 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its stake in American Tower by 17.3% during the 1st quarter. Lindbrook Capital LLC now owns 3,504 shares of the real estate investment trust’s stock valued at $692,000 after purchasing an additional 516 shares during the period. Institutional investors own 92.69% of the company’s stock.

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.