Wall Street analysts predict that American Tower Corporation (REIT) (NYSE:AMT) will post sales of $1.69 billion for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for American Tower’s earnings, with the lowest sales estimate coming in at $1.68 billion and the highest estimate coming in at $1.71 billion. American Tower reported sales of $1.54 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.7%. The firm is scheduled to report its next earnings results on Monday, February 26th.

According to Zacks, analysts expect that American Tower will report full-year sales of $1.69 billion for the current financial year, with estimates ranging from $6.63 billion to $6.65 billion. For the next year, analysts expect that the firm will post sales of $7.18 billion per share, with estimates ranging from $6.96 billion to $7.40 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover American Tower.

Several research analysts have recently commented on the company. ValuEngine downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Friday. KeyCorp reaffirmed an “overweight” rating and issued a $177.00 price objective (up previously from $156.00) on shares of American Tower in a research note on Monday, November 27th. Morgan Stanley raised their price objective on American Tower from $155.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 14th. Zacks Investment Research downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, Argus raised their price objective on American Tower to $170.00 and gave the stock a “buy” rating in a research note on Thursday, November 9th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $158.50.

In other news, Chairman James D. Taiclet, Jr. sold 34,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $151.20, for a total value of $5,140,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Edmund Disanto sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $136.00, for a total value of $1,360,000.00. Following the completion of the sale, the executive vice president now directly owns 151,928 shares of the company’s stock, valued at $20,662,208. The disclosure for this sale can be found here. Insiders have sold 122,000 shares of company stock valued at $17,580,160 in the last quarter. 0.86% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the company. Alexandria Capital LLC lifted its stake in shares of American Tower by 0.5% during the 2nd quarter. Alexandria Capital LLC now owns 812 shares of the real estate investment trust’s stock worth $107,000 after acquiring an additional 4 shares during the last quarter. Cornerstone Advisors Inc. lifted its stake in shares of American Tower by 1.2% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,235 shares of the real estate investment trust’s stock worth $163,000 after acquiring an additional 15 shares during the last quarter. Baxter Bros Inc. lifted its stake in shares of American Tower by 0.4% during the 2nd quarter. Baxter Bros Inc. now owns 3,470 shares of the real estate investment trust’s stock worth $459,000 after acquiring an additional 15 shares during the last quarter. HL Financial Services LLC lifted its stake in shares of American Tower by 0.5% during the 2nd quarter. HL Financial Services LLC now owns 3,675 shares of the real estate investment trust’s stock worth $486,000 after acquiring an additional 19 shares during the last quarter. Finally, Atlantic Trust LLC lifted its stake in shares of American Tower by 0.5% during the 2nd quarter. Atlantic Trust LLC now owns 4,345 shares of the real estate investment trust’s stock worth $575,000 after acquiring an additional 21 shares during the last quarter. 91.88% of the stock is owned by institutional investors and hedge funds.

American Tower (AMT) opened at $143.61 on Friday. American Tower has a 1-year low of $100.79 and a 1-year high of $155.28. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a market capitalization of $61,725.24, a PE ratio of 22.28, a price-to-earnings-growth ratio of 1.69 and a beta of 0.73.

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American Tower Company Profile

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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Earnings History and Estimates for American Tower (NYSE:AMT)

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