American Tower Co. (NYSE:AMT) Receives $235.08 Average PT from Analysts

American Tower Co. (NYSE:AMT) has been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $235.08.

Several analysts have commented on the company. Barclays reduced their price objective 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. The Goldman Sachs Group cut their price target on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. JPMorgan Chase & Co. lifted their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. BMO Capital Markets dropped their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th.

American Tower Stock Performance

Shares of American Tower stock opened at $181.87 on Wednesday. The stock has a market capitalization of $84.99 billion, a price-to-earnings ratio of 76.74, a PEG ratio of 1.31 and a beta of 0.83. The firm’s fifty day simple moving average is $202.78 and its 200-day simple moving average is $212.91. 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 12 month low of $170.46 and a 12 month high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS 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 business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the prior year, the firm posted $2.58 earnings per share. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, equities analysts forecast that American Tower will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be given a $1.62 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.56%. American Tower’s dividend payout ratio is presently 273.42%.

Institutional Investors Weigh In On American Tower

A number of institutional investors have recently bought and sold shares of AMT. Balentine LLC purchased a new stake in shares of American Tower during the 3rd quarter valued at $586,000. Point72 Hong Kong Ltd purchased a new position in shares of American Tower in the 3rd quarter worth $1,156,000. Czech National Bank boosted its holdings in American Tower by 6.9% in the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after acquiring an additional 6,163 shares during the last quarter. Banque Cantonale Vaudoise grew its position in American Tower by 46.8% during the third quarter. Banque Cantonale Vaudoise now owns 25,715 shares of the real estate investment trust’s stock valued at $5,980,000 after acquiring an additional 8,195 shares during the period. Finally, Savvy Advisors Inc. increased its stake in American Tower by 268.2% during the third quarter. Savvy Advisors Inc. now owns 4,463 shares of the real estate investment trust’s stock worth $1,038,000 after acquiring an additional 3,251 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

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.