American Tower (NYSE:AMT) Now Covered by Analysts at Mizuho

Mizuho assumed coverage on shares of American Tower (NYSE:AMT - Free Report) in a research note released on Monday, MarketBeat Ratings reports. The firm issued a neutral rating and a $205.00 price target on the real estate investment trust's stock.

AMT has been the subject of several other reports. StockNews.com cut American Tower from a buy rating to a hold rating in a research note on Friday, March 1st. Barclays raised their price objective on American Tower from $224.00 to $234.00 and gave the stock an overweight rating in a research note on Tuesday, March 5th. HSBC began coverage on American Tower in a research report on Thursday, December 14th. They set a buy rating and a $245.00 price target for the company. BMO Capital Markets reduced their price target on American Tower from $235.00 to $228.00 and set an outperform rating for the company in a research report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. reduced their price target on American Tower from $236.00 to $230.00 and set an overweight rating for the company in a research report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, American Tower has an average rating of Moderate Buy and a consensus target price of $214.91.

American Tower Stock Down 1.0 %

American Tower stock traded down $1.85 during midday trading on Monday, reaching $188.32. The company's stock had a trading volume of 2,296,787 shares, compared to its average volume of 2,335,198. The stock's 50-day simple moving average is $195.10 and its 200-day simple moving average is $192.89. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.69. American Tower has a 52-week low of $154.58 and a 52-week high of $219.10. The stock has a market capitalization of $87.82 billion, a P/E ratio of 59.80, a PEG ratio of 1.32 and a beta of 0.67.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $2.10 by ($1.16). American Tower had a net margin of 13.31% and a return on equity of 12.80%. The business had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.74 billion. During the same quarter last year, the business posted $2.34 earnings per share. The company's quarterly revenue was up 3.0% compared to the same quarter last year. On average, sell-side 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. Shareholders of record on Friday, April 12th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower's payout ratio is currently 213.84%.

Insider Buying and Selling at American Tower

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

Hedge Funds Weigh In On American Tower

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Personal Capital Advisors Corp boosted its stake in American Tower by 1.7% during the first quarter. Personal Capital Advisors Corp now owns 2,510 shares of the real estate investment trust's stock worth $631,000 after buying an additional 43 shares during the last quarter. Lumature Wealth Partners LLC raised its position in American Tower by 40.3% in the first quarter. Lumature Wealth Partners LLC now owns 174 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 50 shares during the period. Alera Investment Advisors LLC raised its position in American Tower by 1.3% in the fourth quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust's stock valued at $886,000 after purchasing an additional 51 shares during the period. McIlrath & Eck LLC raised its position in American Tower by 18.5% in the fourth quarter. McIlrath & Eck LLC now owns 333 shares of the real estate investment trust's stock valued at $71,000 after purchasing an additional 52 shares during the period. Finally, Allstate Corp raised its holdings in shares of American Tower by 3.1% in the 4th quarter. Allstate Corp now owns 1,750 shares of the real estate investment trust's stock valued at $378,000 after buying an additional 53 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

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.