Brokerages Set American Tower Co. (NYSE:AMT) Target Price at $235.21

Shares of American Tower Co. (NYSE:AMT) have earned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $235.21.

A number of research analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Barclays raised their price target on American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday. Scotiabank raised their target price on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th.

Insider Activity at American Tower

In other news, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the transaction, the executive vice president now owns 51,746 shares of the company’s stock, valued at $12,070,789.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the sale, the chief executive officer now owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the transaction, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,723 shares of company stock valued at $7,795,397 over the last ninety days. 0.18% of the stock is owned by insiders.

Hedge Funds Weigh In On American Tower

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bragg Financial Advisors Inc boosted its holdings in American Tower by 5.2% during the fourth quarter. Bragg Financial Advisors Inc now owns 25,062 shares of the real estate investment trust’s stock worth $5,410,000 after purchasing an additional 1,247 shares during the last quarter. Bayesian Capital Management LP increased its position in American Tower by 65.4% during the fourth quarter. Bayesian Capital Management LP now owns 21,754 shares of the real estate investment trust’s stock worth $4,696,000 after buying an additional 8,599 shares during the last quarter. Heitman Real Estate Securities LLC raised its stake in American Tower by 57.2% in the fourth quarter. Heitman Real Estate Securities LLC now owns 229,385 shares of the real estate investment trust’s stock valued at $49,520,000 after buying an additional 83,431 shares during the period. Georgetown University boosted its stake in shares of American Tower by 0.9% during the 4th quarter. Georgetown University now owns 19,497 shares of the real estate investment trust’s stock worth $4,209,000 after acquiring an additional 178 shares during the period. Finally, Guardian Wealth Advisors LLC NC increased its holdings in shares of American Tower by 1.2% during the 4th quarter. Guardian Wealth Advisors LLC NC now owns 7,966 shares of the real estate investment trust’s stock worth $1,720,000 after acquiring an additional 92 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Stock Performance

Shares of AMT opened at $219.27 on Friday. American Tower has a 52 week low of $157.25 and a 52 week high of $243.56. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $102.39 billion, a PE ratio of 49.61, a PEG ratio of 1.00 and a beta of 0.83. The company’s 50 day moving average price is $228.56 and its 200 day moving average price is $205.51.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.52). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the prior year, the business posted $2.46 earnings per share. American Tower’s revenue was up 4.7% on a year-over-year basis. Research analysts expect that American Tower will post 10.13 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be given a dividend of $1.62 per share. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 2.96%. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

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.