American Tower Corp (NYSE:AMT) has been assigned a consensus recommendation of “Hold” from the twenty-one research firms that are currently covering the stock, Marketbeat reports. Twelve investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $182.00.

AMT has been the subject of several analyst reports. Bank of America raised their target price on shares of American Tower from $172.00 to $208.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Macquarie reissued a “buy” rating and issued a $210.00 target price on shares of American Tower in a research note on Thursday, February 28th. Morgan Stanley raised their target price on shares of American Tower from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Monday, March 11th. Edward Jones cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. Finally, Wells Fargo & Co cut shares of American Tower from an “outperform” rating to a “market perform” rating and raised their target price for the company from $190.00 to $196.00 in a research note on Monday, April 15th. They noted that the move was a valuation call.

Shares of NYSE AMT traded up $2.25 during midday trading on Thursday, reaching $202.92. The company’s stock had a trading volume of 1,382,146 shares, compared to its average volume of 1,411,943. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 4.31. American Tower has a fifty-two week low of $134.87 and a fifty-two week high of $203.38. The company has a market capitalization of $89.69 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 1.62 and a beta of 0.66.

American Tower (NYSE:AMT) last released its earnings results on Friday, May 3rd. The real estate investment trust reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.04. American Tower had a net margin of 17.95% and a return on equity of 22.61%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the business earned $0.63 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts expect that American Tower will post 7.51 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Wednesday, June 19th will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.81%. This is a boost from American Tower’s previous quarterly dividend of $0.90. The ex-dividend date is Tuesday, June 18th. American Tower’s payout ratio is 45.06%.

In other American Tower news, SVP Robert Joseph Meyer, Jr. sold 44,168 shares of American Tower stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $198.33, for a total transaction of $8,759,839.44. Following the completion of the transaction, the senior vice president now directly owns 54,460 shares of the company’s stock, valued at $10,801,051.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James D. Taiclet, Jr. sold 11,863 shares of American Tower stock in a transaction on Monday, April 15th. The stock was sold at an average price of $195.88, for a total transaction of $2,323,724.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 215,986 shares of company stock valued at $41,954,910. Company insiders own 0.75% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in AMT. Moors & Cabot Inc. bought a new stake in shares of American Tower in the first quarter valued at about $456,000. Cetera Investment Advisers boosted its position in shares of American Tower by 14.7% in the fourth quarter. Cetera Investment Advisers now owns 2,312 shares of the real estate investment trust’s stock valued at $362,000 after acquiring an additional 296 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of American Tower by 12.4% in the first quarter. Nisa Investment Advisors LLC now owns 205,747 shares of the real estate investment trust’s stock valued at $40,545,000 after acquiring an additional 22,765 shares during the period. Ruggie Capital Group boosted its position in shares of American Tower by 113.3% in the fourth quarter. Ruggie Capital Group now owns 546 shares of the real estate investment trust’s stock valued at $86,000 after acquiring an additional 290 shares during the period. Finally, Coldstream Capital Management Inc. boosted its position in shares of American Tower by 3.0% in the fourth quarter. Coldstream Capital Management Inc. now owns 20,035 shares of the real estate investment trust’s stock valued at $3,169,000 after acquiring an additional 585 shares during the period. 94.23% of the stock is owned by hedge funds and other institutional investors.

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 approximately 171,000 communications sites.

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Analyst Recommendations for American Tower (NYSE:AMT)

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