Brokerages Set American Tower Co. (NYSE:AMT) Target Price at $240.25

American Tower Co. (NYSE:AMT - Get Free Report) has been given a consensus recommendation of "Buy" by the eighteen brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $240.25.

AMT has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Citigroup upped their price target on shares of American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Bank of America started coverage on shares of American Tower in a report on Monday, May 19th. They issued a "buy" rating and a $255.00 target price on the stock. Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a report on Thursday, February 27th. Finally, Raymond James boosted their target price on shares of American Tower from $231.00 to $251.00 and gave the stock a "strong-buy" rating in a report on Wednesday, April 30th.

American Tower Stock Performance

NYSE AMT traded down $1.92 during trading hours on Friday, hitting $211.78. 793,442 shares of the company's stock traded hands, compared to its average volume of 2,507,036. The business's fifty day moving average price is $215.16 and its two-hundred day moving average price is $201.86. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market capitalization of $99.14 billion, a P/E ratio of 89.18, a P/E/G ratio of 1.29 and a beta of 0.86. American Tower has a 52 week low of $172.51 and a 52 week high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.34. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm's quarterly revenue was down 9.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.79 earnings per share. Equities research analysts predict that American Tower will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 13th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Friday, June 13th. American Tower's payout ratio is presently 174.81%.

Hedge Funds Weigh In On American Tower

Hedge funds and other institutional investors have recently modified their holdings of the stock. North Capital Inc. purchased a new position in American Tower during the 1st quarter worth approximately $25,000. Hopwood Financial Services Inc. raised its position in American Tower by 100.0% during the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock worth $26,000 after buying an additional 60 shares during the last quarter. Minot DeBlois Advisors LLC purchased a new position in American Tower during the 4th quarter worth approximately $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in American Tower during the 1st quarter worth approximately $31,000. Finally, Roxbury Financial LLC purchased a new position in American Tower during the 4th quarter worth approximately $32,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Company Profile

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.