American Tower Co. (NYSE:AMT) Receives $217.55 Consensus Price Target from Brokerages

American Tower Co. (NYSE:AMT) has earned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $215.90.

A number of research analysts have recently issued reports on the stock. HSBC started coverage on shares of American Tower in a research report on Thursday, December 14th. They issued a “buy” rating and a $245.00 price target on the stock. Barclays upped their price target on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. cut their price target on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Finally, BMO Capital Markets lowered their price objective on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the transaction, the chief financial officer now owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the transaction, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total transaction of $962,584.84. Following the transaction, the director now directly owns 18,545 shares in the company, valued at $3,532,080.70. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On American Tower

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMT. Pinnacle Holdings LLC purchased a new stake in shares of American Tower during the first quarter valued at approximately $29,000. Eagle Bay Advisors LLC bought a new position in American Tower in the 2nd quarter valued at $30,000. VitalStone Financial LLC purchased a new stake in shares of American Tower during the 1st quarter valued at $38,000. Gold Investment Management Ltd. bought a new stake in shares of American Tower during the 4th quarter worth $28,000. Finally, Thompson Investment Management Inc. purchased a new position in shares of American Tower in the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

AMT stock opened at $197.59 on Monday. The company has a market capitalization of $92.15 billion, a P/E ratio of 62.14, a PEG ratio of 1.37 and a beta of 0.68. The company has a fifty day moving average price of $196.08 and a 200-day moving average price of $192.13. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69. American Tower has a 52-week low of $154.58 and a 52-week high of $219.10.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($1.16). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the prior year, the business earned $2.34 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities analysts expect that American Tower will post 10.08 EPS for the current year.

American Tower Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Thursday, April 11th. American Tower’s dividend payout ratio is currently 213.84%.

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.