American Tower Corp (NYSE:AMT) has been given a consensus recommendation of “Buy” by the nineteen analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $162.07.

A number of equities analysts have issued reports on AMT shares. Zacks Investment Research cut American Tower from a “hold” rating to a “sell” rating in a report on Friday, April 20th. Raymond James cut American Tower from an “outperform” rating to a “market perform” rating in a report on Monday, July 9th. SunTrust Banks reiterated a “buy” rating and set a $167.00 target price on shares of American Tower in a report on Friday, July 20th. Guggenheim cut American Tower from a “buy” rating to a “neutral” rating and set a $135.00 price objective for the company. in a report on Monday, July 16th. Finally, Morgan Stanley decreased their price objective on American Tower from $157.00 to $154.00 and set an “overweight” rating for the company in a report on Thursday, May 31st.

In other news, CEO James D. Taiclet, Jr. sold 43,843 shares of the firm’s stock in a transaction dated Tuesday, May 29th. The stock was sold at an average price of $135.53, for a total value of $5,942,041.79. Following the completion of the transaction, the chief executive officer now owns 223,227 shares in the company, valued at approximately $30,253,955.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David E. Sharbutt sold 1,321 shares of the firm’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $150.48, for a total transaction of $198,784.08. Following the completion of the sale, the director now owns 4,781 shares of the company’s stock, valued at $719,444.88. The disclosure for this sale can be found here. Insiders sold a total of 198,810 shares of company stock valued at $28,393,839 in the last 90 days. 0.87% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of AMT. Global X Management Co. LLC lifted its stake in American Tower by 5.9% in the 1st quarter. Global X Management Co. LLC now owns 9,842 shares of the real estate investment trust’s stock valued at $1,430,000 after purchasing an additional 545 shares during the last quarter. FDx Advisors Inc. lifted its stake in American Tower by 49.4% in the 1st quarter. FDx Advisors Inc. now owns 24,734 shares of the real estate investment trust’s stock valued at $3,595,000 after purchasing an additional 8,178 shares during the last quarter. Rhumbline Advisers lifted its stake in American Tower by 1.9% in the 1st quarter. Rhumbline Advisers now owns 832,668 shares of the real estate investment trust’s stock valued at $121,020,000 after purchasing an additional 15,318 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its stake in American Tower by 120.7% in the 1st quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 82,702 shares of the real estate investment trust’s stock valued at $11,883,000 after purchasing an additional 45,225 shares during the last quarter. Finally, D.B. Root & Company LLC acquired a new stake in American Tower in the 1st quarter valued at about $231,000. Institutional investors and hedge funds own 92.20% of the company’s stock.

AMT stock traded up $0.72 during trading hours on Tuesday, reaching $150.44. 48,357 shares of the stock were exchanged, compared to its average volume of 2,367,990. The stock has a market cap of $65.76 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 1.59 and a beta of 0.83. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.99. American Tower has a 12 month low of $130.37 and a 12 month high of $155.28.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, July 31st. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($1.04). The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.75 billion. American Tower had a return on equity of 16.72% and a net margin of 16.34%. American Tower’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the company posted $1.58 EPS. analysts forecast that American Tower will post 7.1 earnings per share for the current fiscal year.

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 160,000 communications sites. For more information about American Tower, please visit the ?Earnings Materials? and ?Company & Industry Resources? sections of our investor relations website at www.americantower.com.

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Analyst Recommendations for American Tower (NYSE:AMT)

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