Brokerages predict that American Tower Corp (NYSE:AMT) will report $1.64 earnings per share (EPS) for the current quarter, according to Zacks. Six analysts have provided estimates for American Tower’s earnings, with estimates ranging from $0.84 to $1.89. American Tower reported earnings of $1.58 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.8%. The business is expected to report its next quarterly earnings report on Thursday, April 26th.
According to Zacks, analysts expect that American Tower will report full year earnings of $7.41 per share for the current fiscal year, with EPS estimates ranging from $7.20 to $7.72. For the next fiscal year, analysts anticipate that the business will post earnings of $7.82 per share, with EPS estimates ranging from $3.39 to $8.60. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that cover American Tower.
American Tower (NYSE:AMT) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.59 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.04). The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. American Tower had a return on equity of 17.20% and a net margin of 18.31%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same period last year, the company posted $1.52 EPS.
American Tower (AMT) traded up $1.51 during mid-day trading on Monday, hitting $145.08. 2,440,000 shares of the stock were exchanged, compared to its average volume of 3,090,000. The company has a market capitalization of $61,580.00, a PE ratio of 55.16, a P/E/G ratio of 1.61 and a beta of 0.80. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.25 and a quick ratio of 1.25. American Tower has a 52-week low of $113.11 and a 52-week high of $155.28.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Wednesday, April 11th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Tuesday, April 10th. This is an increase from American Tower’s previous quarterly dividend of $0.70. American Tower’s dividend payout ratio is currently 106.46%.
American Tower announced that its board has authorized a share repurchase plan on Thursday, December 7th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
In other American Tower news, Director David E. Sharbutt sold 1,584 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $144.44, for a total transaction of $228,792.96. Following the completion of the sale, the director now owns 4,861 shares of the company’s stock, valued at approximately $702,122.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Samme L. Thompson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $143.16, for a total transaction of $715,800.00. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its position in American Tower by 5.4% during the 3rd quarter. Janus Henderson Group PLC now owns 7,868,533 shares of the real estate investment trust’s stock valued at $1,075,458,000 after purchasing an additional 400,117 shares during the period. Edgewood Management LLC grew its position in shares of American Tower by 1.6% during the 3rd quarter. Edgewood Management LLC now owns 6,326,717 shares of the real estate investment trust’s stock worth $864,736,000 after buying an additional 99,052 shares during the period. Geode Capital Management LLC grew its position in shares of American Tower by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 4,113,653 shares of the real estate investment trust’s stock worth $585,539,000 after buying an additional 136,669 shares during the period. American Century Companies Inc. grew its position in shares of American Tower by 1.5% during the 4th quarter. American Century Companies Inc. now owns 3,248,232 shares of the real estate investment trust’s stock worth $463,425,000 after buying an additional 46,708 shares during the period. Finally, Brookfield Asset Management Inc. grew its position in shares of American Tower by 18.1% during the 4th quarter. Brookfield Asset Management Inc. now owns 2,810,143 shares of the real estate investment trust’s stock worth $400,923,000 after buying an additional 430,500 shares during the period. 92.52% of the stock is owned by institutional investors and hedge funds.
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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