Shares of American Tower Corporation (REIT) (NYSE:AMT) have been given an average recommendation of “Buy” by the fifteen research firms that are currently covering the stock, Marketbeat.com reports. Fourteen investment analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $148.58.

Several brokerages have commented on AMT. SunTrust Banks, Inc. restated a “buy” rating on shares of American Tower Corporation (REIT) in a research report on Wednesday. Jefferies Group LLC restated a “buy” rating and set a $144.00 target price on shares of American Tower Corporation (REIT) in a research report on Tuesday, September 12th. BidaskClub upgraded shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Zacks Investment Research upgraded shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 target price on the stock in a research report on Thursday, August 3rd. Finally, Deutsche Bank AG boosted their target price on shares of American Tower Corporation (REIT) from $145.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, July 14th.

American Tower Corporation (NYSE AMT) opened at 137.78 on Friday. The firm has a market capitalization of $59.13 billion, a PE ratio of 55.11 and a beta of 0.70. The firm’s 50-day moving average is $142.16 and its 200-day moving average is $131.01. American Tower Corporation has a 52-week low of $99.72 and a 52-week high of $148.71.

American Tower Corporation (REIT) (NYSE:AMT) last issued its earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.75). The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.64 billion. American Tower Corporation (REIT) had a return on equity of 16.70% and a net margin of 18.58%. American Tower Corporation (REIT)’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.38 earnings per share. On average, analysts anticipate that American Tower Corporation will post $3.02 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Friday, September 29th will be paid a $0.66 dividend. This is an increase from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, September 28th. This represents a $2.64 annualized dividend and a yield of 1.92%. American Tower Corporation (REIT)’s payout ratio is presently 102.81%.

In related news, EVP Steven C. Marshall sold 20,548 shares of the business’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $134.92, for a total value of $2,772,336.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $145.89, for a total transaction of $4,960,260.00. Following the completion of the transaction, the chairman now directly owns 304,707 shares of the company’s stock, valued at approximately $44,453,704.23. The disclosure for this sale can be found here. Insiders sold a total of 80,295 shares of company stock valued at $11,347,780 in the last three months. 0.86% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Intl Fcstone Inc. acquired a new position in shares of American Tower Corporation (REIT) during the 2nd quarter valued at about $1,193,000. Gs Investments Inc. acquired a new position in shares of American Tower Corporation (REIT) during the 2nd quarter valued at about $812,000. Brookfield Asset Management Inc. increased its stake in shares of American Tower Corporation (REIT) by 10.3% during the 2nd quarter. Brookfield Asset Management Inc. now owns 2,628,643 shares of the real estate investment trust’s stock valued at $347,822,000 after acquiring an additional 244,700 shares during the last quarter. Achmea Investment Management B.V. increased its stake in shares of American Tower Corporation (REIT) by 133.8% during the 2nd quarter. Achmea Investment Management B.V. now owns 21,522 shares of the real estate investment trust’s stock valued at $2,845,000 after acquiring an additional 12,315 shares during the last quarter. Finally, Atlantic Trust LLC increased its stake in shares of American Tower Corporation (REIT) by 0.5% during the 2nd quarter. Atlantic Trust LLC now owns 4,345 shares of the real estate investment trust’s stock valued at $575,000 after acquiring an additional 21 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for American Tower Corporation (REIT) (NYSE:AMT)

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