Analysts Set American Tower Co. (NYSE:AMT) PT at $235.85

American Tower Co. (NYSE:AMT) has been given a consensus recommendation of “Moderate Buy” by the thirteen research firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $235.85.

Several research analysts recently commented on the company. TD Cowen boosted their target price on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company downgraded American Tower from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Finally, BMO Capital Markets reduced their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th.

Institutional Trading of American Tower

Institutional investors and hedge funds have recently made changes to their positions in the company. NBT Bank N A NY lifted its stake in shares of American Tower by 3.3% during the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock worth $329,000 after purchasing an additional 54 shares in the last quarter. CX Institutional lifted its position in American Tower by 2.9% during the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after acquiring an additional 54 shares in the last quarter. O Brien Greene & Co. Inc boosted its holdings in American Tower by 2.3% in the 2nd quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock worth $481,000 after acquiring an additional 55 shares during the period. CFO4Life Group LLC grew its position in American Tower by 5.4% in the first quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $221,000 after acquiring an additional 57 shares in the last quarter. Finally, Palumbo Wealth Management LLC raised its stake in shares of American Tower by 1.6% during the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock valued at $864,000 after purchasing an additional 57 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Up 2.0 %

Shares of AMT opened at $201.80 on Tuesday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market capitalization of $94.30 billion, a PE ratio of 85.15, a P/E/G ratio of 1.38 and a beta of 0.84. The company’s 50-day simple moving average is $226.12 and its 200-day simple moving average is $209.83. American Tower has a 1 year low of $170.46 and a 1 year high of $243.56.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.58 earnings per share. Analysts forecast that American Tower will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.21%. The ex-dividend date was Wednesday, October 9th. American Tower’s payout ratio is 273.42%.

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.