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

American Tower Co. (NYSE:AMTGet Free Report) 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.

View Our Latest Report on American Tower

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:AMTGet Free Report) 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

(Get Free Report

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.

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Analyst Recommendations for American Tower (NYSE:AMT)

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