Wall Street analysts expect that American Tower Corp (NYSE:AMT) will post $1.64 billion in sales for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for American Tower Corp’s earnings, with estimates ranging from $1.63 billion to $1.65 billion. American Tower Corp reported sales of $1.44 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 13.9%. The business is scheduled to issue its next earnings results on Thursday, July 27th.

On average, analysts expect that American Tower Corp will report full-year sales of $1.64 billion for the current year, with estimates ranging from $6.6 billion to $6.68 billion. For the next financial year, analysts expect that the business will post sales of $7.13 billion per share, with estimates ranging from $6.98 billion to $7.35 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for American Tower Corp.

American Tower Corp (NYSE:AMT) last issued its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.51 by $0.84. The business had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.58 billion. American Tower Corp had a net margin of 17.37% and a return on equity of 14.05%. The company’s revenue was up 25.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.58 earnings per share.

Several equities research analysts recently commented on AMT shares. Zacks Investment Research upgraded shares of American Tower Corp from a “hold” rating to a “buy” rating and set a $142.00 price target for the company in a research report on Thursday, May 4th. Royal Bank of Canada upped their price target on shares of American Tower Corp from $134.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, April 28th. Pacific Crest upped their price target on shares of American Tower Corp to $132.00 in a research report on Wednesday, March 22nd. Guggenheim upgraded shares of American Tower Corp from a “neutral” rating to a “buy” rating and upped their price target for the company from $117.00 to $135.00 in a research report on Monday, April 10th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $136.00 target price on shares of American Tower Corp in a research report on Monday, April 3rd. Ten equities research analysts have rated the stock with a buy rating, American Tower Corp currently has a consensus rating of “Buy” and a consensus price target of $134.67.

Shares of American Tower Corp (NYSE:AMT) opened at 131.11 on Friday. American Tower Corp has a 52 week low of $99.72 and a 52 week high of $132.86. The stock’s 50 day moving average is $126.28 and its 200 day moving average is $113.27. The stock has a market capitalization of $55.72 billion, a PE ratio of 63.31 and a beta of 0.61.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Wednesday, April 12th were paid a dividend of $0.62 per share. This is a positive change from American Tower Corp’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Monday, April 10th. This represents a $2.48 annualized dividend and a dividend yield of 1.89%. American Tower Corp’s dividend payout ratio is 117.17%.

In other news, Chairman James D. Taiclet, Jr. sold 69,760 shares of the stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $114.62, for a total transaction of $7,995,891.20. Following the transaction, the chairman now owns 324,929 shares in the company, valued at approximately $37,243,361.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Edmund Disanto sold 15,000 shares of the stock in a transaction on Thursday, March 23rd. The stock was sold at an average price of $119.23, for a total transaction of $1,788,450.00. Following the transaction, the executive vice president now owns 156,893 shares in the company, valued at approximately $18,706,352.39. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 303,051 shares of company stock worth $36,811,944. 0.95% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in American Tower Corp during the fourth quarter worth about $178,214,000. Wellington Management Group LLP raised its position in American Tower Corp by 8.4% in the first quarter. Wellington Management Group LLP now owns 21,788,278 shares of the real estate investment trust’s stock worth $2,648,146,000 after buying an additional 1,679,615 shares during the last quarter. American Century Companies Inc. raised its position in American Tower Corp by 60.8% in the first quarter. American Century Companies Inc. now owns 3,986,977 shares of the real estate investment trust’s stock worth $484,577,000 after buying an additional 1,507,172 shares during the last quarter. Janus Capital Management LLC raised its position in American Tower Corp by 18.3% in the fourth quarter. Janus Capital Management LLC now owns 7,007,311 shares of the real estate investment trust’s stock worth $740,579,000 after buying an additional 1,084,942 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in American Tower Corp by 3.8% in the first quarter. Vanguard Group Inc. now owns 27,561,482 shares of the real estate investment trust’s stock worth $3,349,823,000 after buying an additional 1,008,946 shares during the last quarter. Institutional investors and hedge funds own 93.07% of the company’s stock.

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About American Tower Corp

American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

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