Wall Street brokerages expect that American Tower Corporation (REIT) (NYSE:AMT) will report sales of $1.68 billion for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for American Tower Corporation (REIT)’s earnings, with the lowest sales estimate coming in at $1.67 billion and the highest estimate coming in at $1.68 billion. American Tower Corporation (REIT) reported sales of $1.51 billion in the same quarter last year, which indicates a positive year over year growth rate of 11.3%. The firm is expected to announce its next quarterly earnings results on Thursday, October 26th.

On average, analysts expect that American Tower Corporation (REIT) will report full year sales of $1.68 billion for the current year, with estimates ranging from $6.63 billion to $6.67 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $7.15 billion per share, with estimates ranging from $6.99 billion to $7.43 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for American Tower Corporation (REIT).

American Tower Corporation (REIT) (NYSE:AMT) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.55 by $0.75. American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the firm earned $1.38 EPS. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year.

AMT has been the subject of a number of recent research reports. Zacks Investment Research raised American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $142.00 target price for the company in a report on Thursday, May 4th. Royal Bank Of Canada increased their target price on American Tower Corporation (REIT) from $134.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, April 28th. BidaskClub cut American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Citigroup Inc. cut American Tower Corporation (REIT) to an “outperform” rating and set a $147.00 target price for the company. in a report on Monday, June 12th. Finally, Guggenheim raised American Tower Corporation (REIT) from a “neutral” rating to a “buy” rating and increased their target price for the stock from $117.00 to $135.00 in a report on Monday, April 10th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $142.67.

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In other American Tower Corporation (REIT) news, Director David E. Sharbutt sold 3,653 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $128.61, for a total value of $469,812.33. Following the transaction, the director now directly owns 10,098 shares in the company, valued at approximately $1,298,703.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steven C. Marshall sold 20,548 shares of the stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $134.92, for a total value of $2,772,336.16. The disclosure for this sale can be found here. Insiders sold a total of 85,297 shares of company stock worth $10,975,069 over the last quarter. Corporate insiders own 0.86% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BLB&B Advisors LLC raised its position in shares of American Tower Corporation (REIT) by 27.5% in the first quarter. BLB&B Advisors LLC now owns 5,655 shares of the real estate investment trust’s stock worth $687,000 after buying an additional 1,220 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of American Tower Corporation (REIT) by 296.4% in the first quarter. Acadian Asset Management LLC now owns 4,761 shares of the real estate investment trust’s stock worth $579,000 after buying an additional 3,560 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of American Tower Corporation (REIT) by 19.9% in the first quarter. Janney Montgomery Scott LLC now owns 43,143 shares of the real estate investment trust’s stock worth $5,244,000 after buying an additional 7,152 shares during the last quarter. Telos Capital Management Inc. raised its position in shares of American Tower Corporation (REIT) by 17.0% in the first quarter. Telos Capital Management Inc. now owns 13,033 shares of the real estate investment trust’s stock worth $1,584,000 after buying an additional 1,897 shares during the last quarter. Finally, Cullinan Associates Inc. raised its position in shares of American Tower Corporation (REIT) by 8.1% in the first quarter. Cullinan Associates Inc. now owns 38,360 shares of the real estate investment trust’s stock worth $4,662,000 after buying an additional 2,880 shares during the last quarter. Hedge funds and other institutional investors own 93.40% of the company’s stock.

American Tower Corporation (NYSE AMT) opened at 137.57 on Monday. American Tower Corporation has a 52-week low of $99.72 and a 52-week high of $139.50. The company’s 50-day moving average price is $133.71 and its 200-day moving average price is $122.47. The firm has a market cap of $59.04 billion, a price-to-earnings ratio of 55.03 and a beta of 0.71.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, June 19th were given a dividend of $0.64 per share. The ex-dividend date was Thursday, June 15th. This is a positive change from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. This represents a $2.56 dividend on an annualized basis and a yield of 1.86%. American Tower Corporation (REIT)’s dividend payout ratio is 102.81%.

About American Tower Corporation (REIT)

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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