American Tower Co. (REIT) (NYSE:AMT) Expected to Earn Q4 2021 Earnings of $2.23 Per Share

American Tower Co. (REIT) (NYSE:AMT) – Research analysts at Jefferies Financial Group upped their Q4 2021 earnings per share (EPS) estimates for shares of American Tower in a report issued on Monday, January 10th. Jefferies Financial Group analyst J. Petersen now expects that the real estate investment trust will post earnings of $2.23 per share for the quarter, up from their previous estimate of $2.22. Jefferies Financial Group also issued estimates for American Tower’s Q3 2022 earnings at $2.62 EPS, Q4 2022 earnings at $2.54 EPS and FY2022 earnings at $10.14 EPS.

American Tower (NYSE:AMT) last posted its earnings results on Wednesday, October 27th. The real estate investment trust reported $1.58 EPS for the quarter, missing the Zacks’ consensus estimate of $2.27 by ($0.69). The company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.41 billion. American Tower had a net margin of 27.44% and a return on equity of 39.34%. The company’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period last year, the business earned $2.23 earnings per share.

A number of other analysts have also recently weighed in on AMT. Credit Suisse Group increased their price target on shares of American Tower from $324.00 to $328.00 and gave the stock an “outperform” rating in a research note on Friday, October 29th. The Goldman Sachs Group cut shares of American Tower from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $298.00 to $281.00 in a research note on Tuesday. KeyCorp raised their target price on shares of American Tower from $302.00 to $311.00 and gave the stock an “overweight” rating in a research note on Friday, October 29th. Raymond James reduced their target price on shares of American Tower from $296.00 to $294.00 and set an “outperform” rating for the company in a research note on Monday, November 1st. Finally, Morgan Stanley reduced their target price on shares of American Tower from $316.00 to $294.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $293.63.

Shares of NYSE:AMT opened at $260.49 on Wednesday. The stock has a market cap of $118.63 billion, a P/E ratio of 48.07, a P/E/G ratio of 2.03 and a beta of 0.37. The firm has a fifty day moving average price of $273.01 and a 200 day moving average price of $278.55. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.30 and a quick ratio of 1.30. American Tower has a 1-year low of $197.50 and a 1-year high of $303.72.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 14th. Shareholders of record on Monday, December 27th will be given a dividend of $1.39 per share. This represents a $5.56 dividend on an annualized basis and a yield of 2.13%. This is a boost from American Tower’s previous quarterly dividend of $1.31. The ex-dividend date of this dividend is Thursday, December 23rd. American Tower’s payout ratio is 101.09%.

In other news, Director Pamela D. A. Reeve sold 3,590 shares of the business’s stock in a transaction on Thursday, December 9th. The shares were sold at an average price of $273.02, for a total transaction of $980,141.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joann A. Reed sold 866 shares of American Tower stock in a transaction on Tuesday, November 16th. The stock was sold at an average price of $260.50, for a total transaction of $225,593.00. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.

Several large investors have recently modified their holdings of the stock. WINTON GROUP Ltd bought a new stake in American Tower during the second quarter valued at $1,306,000. Intersect Capital LLC bought a new stake in American Tower during the second quarter valued at $271,000. Van ECK Associates Corp increased its stake in American Tower by 11.5% during the second quarter. Van ECK Associates Corp now owns 65,876 shares of the real estate investment trust’s stock valued at $17,796,000 after purchasing an additional 6,792 shares during the last quarter. Tower Bridge Advisors bought a new stake in American Tower during the second quarter valued at $214,000. Finally, Avantax Planning Partners Inc. grew its position in shares of American Tower by 10.0% during the second quarter. Avantax Planning Partners Inc. now owns 3,847 shares of the real estate investment trust’s stock worth $1,039,000 after acquiring an additional 350 shares during the last quarter. Institutional investors and hedge funds own 89.57% of the company’s stock.

American Tower Company Profile

American Tower Corp. provides real estate investment services, and owns, operates, and develops multitenant communications real estate properties. It operates through the following segments: U.S. & Canada, Asia-Pacific, Europe, Africa Latin America, and Services. The Asia-Pacific segment refers to the operations in Australia and India.

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