American Tower Corporation (REIT) (NYSE:AMT) has earned a consensus recommendation of “Buy” from the fifteen brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $148.27.

Several equities analysts have recently weighed in on AMT shares. Citigroup Inc. lifted their price target on American Tower Corporation (REIT) from $142.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, August 28th. Zacks Investment Research upgraded American Tower Corporation (REIT) from a “sell” rating to a “hold” rating and set a $153.00 target price for the company in a research report on Thursday, July 27th. Royal Bank Of Canada restated a “buy” rating and set a $153.00 target price on shares of American Tower Corporation (REIT) in a research report on Friday, September 1st. Deutsche Bank AG boosted their target price on 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. Finally, BidaskClub upgraded American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th.

Shares of American Tower Corporation (NYSE AMT) opened at 139.13 on Wednesday. The stock’s 50 day moving average price is $141.41 and its 200-day moving average price is $133.81. American Tower Corporation has a 52-week low of $99.72 and a 52-week high of $148.71. The company has a market capitalization of $59.71 billion, a P/E ratio of 55.65 and a beta of 0.69.

American Tower Corporation (REIT) (NYSE:AMT) last announced its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by ($0.75). The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.64 billion. American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. American Tower Corporation (REIT)’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.38 earnings per share. On average, equities analysts expect that American Tower Corporation will post $3.03 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 17th. Shareholders of record on Friday, September 29th were paid a dividend of $0.66 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.64 annualized dividend and a yield of 1.90%. This is a positive change from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. American Tower Corporation (REIT)’s payout ratio is 106.02%.

In other news, EVP Amit Sharma sold 20,747 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $139.67, for a total value of $2,897,733.49. Following the completion of the sale, the executive vice president now owns 101,605 shares of the company’s stock, valued at approximately $14,191,170.35. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Pamela D. A. Reeve sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $143.49, for a total value of $717,450.00. Following the completion of the sale, the director now directly owns 17,758 shares of the company’s stock, valued at approximately $2,548,095.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,747 shares of company stock valued at $11,314,943. Corporate insiders own 0.86% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMT. Waldron LP bought a new stake in shares of American Tower Corporation (REIT) in the 1st quarter valued at about $307,000. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of American Tower Corporation (REIT) by 0.3% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 25,198 shares of the real estate investment trust’s stock valued at $3,063,000 after acquiring an additional 75 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of American Tower Corporation (REIT) in the 1st quarter valued at about $2,272,000. Muzinich & Co. Inc. lifted its stake in shares of American Tower Corporation (REIT) by 23.0% in the 1st quarter. Muzinich & Co. Inc. now owns 1,788 shares of the real estate investment trust’s stock valued at $217,000 after acquiring an additional 334 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in shares of American Tower Corporation (REIT) by 6.0% in the 1st quarter. Asset Management One Co. Ltd. now owns 758,769 shares of the real estate investment trust’s stock valued at $92,143,000 after acquiring an additional 42,651 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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