American Tower (NYSE:AMT - Free Report) had its price objective decreased by Scotiabank from $243.00 to $223.00 in a research report report published on Wednesday, Benzinga reports. Scotiabank currently has a sector outperform rating on the real estate investment trust's stock.
Several other research analysts have also recently issued reports on the stock. Raymond James upgraded shares of American Tower from an outperform rating to a strong-buy rating and raised their target price for the stock from $226.00 to $248.00 in a report on Wednesday. BMO Capital Markets cut their target price on shares of American Tower from $228.00 to $220.00 and set an outperform rating on the stock in a report on Wednesday. Morgan Stanley raised their target price on shares of American Tower from $183.00 to $196.00 and gave the stock an equal weight rating in a report on Monday, April 15th. Mizuho assumed coverage on shares of American Tower in a report on Monday, April 8th. They issued a neutral rating and a $205.00 target price on the stock. Finally, Barclays lifted their price target on shares of American Tower from $224.00 to $234.00 and gave the company an overweight rating in a report on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $221.91.
Check Out Our Latest Report on American Tower
American Tower Price Performance
NYSE AMT traded up $5.24 on Wednesday, reaching $176.80. 3,877,084 shares of the company's stock traded hands, compared to its average volume of 2,449,003. American Tower has a 12 month low of $154.58 and a 12 month high of $219.10. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a 50-day simple moving average of $189.49 and a 200 day simple moving average of $194.40. The stock has a market cap of $82.45 billion, a PE ratio of 55.60, a P/E/G ratio of 1.38 and a beta of 0.67.
American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing analysts' consensus estimates of $2.43 by ($0.47). American Tower had a net margin of 13.31% and a return on equity of 12.80%. The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter in the previous year, the business earned $2.54 earnings per share. The firm's revenue was up 2.4% on a year-over-year basis. As a group, research analysts predict that American Tower will post 9.94 earnings per share for the current year.
American Tower Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend was Thursday, April 11th. American Tower's dividend payout ratio is currently 203.77%.
Insider Buying and Selling at American Tower
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 completion of the transaction, the chief financial officer now owns 62,969 shares of the company's stock, valued at $12,953,352.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction dated 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 transaction, the chief financial officer now owns 62,969 shares of the company's stock, valued at approximately $12,953,352.99. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the transaction, the director now directly owns 18,545 shares of the company's stock, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.
Hedge Funds Weigh In On American Tower
Large investors have recently modified their holdings of the stock. Northwest Investment Counselors LLC purchased a new position in shares of American Tower in the 1st quarter worth about $25,000. Gold Investment Management Ltd. purchased a new position in American Tower in the 4th quarter worth about $28,000. Thompson Investment Management Inc. purchased a new position in American Tower in the 4th quarter worth about $29,000. Private Wealth Management Group LLC purchased a new position in American Tower in the 4th quarter worth about $31,000. Finally, SOA Wealth Advisors LLC. purchased a new position in American Tower in the 1st quarter worth about $30,000. Hedge funds and other institutional investors own 92.69% of the company's stock.
American Tower Company Profile
(
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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.
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