StockNews.com lowered shares of American Tower (NYSE:AMT – Free Report) from a buy rating to a hold rating in a research report released on Wednesday.
AMT has been the topic of a number of other reports. Barclays raised their price target on American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their price target on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Royal Bank of Canada raised their price target on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Mizuho raised their price target on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, BMO Capital Markets dropped their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $235.85.
Get Our Latest Research Report on American Tower
American Tower Stock Performance
American Tower (NYSE:AMT – Get Free Report) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the prior year, the business posted $2.58 earnings per share. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. Research analysts anticipate that American Tower will post 10.08 earnings per share for the current fiscal year.
American Tower Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Wednesday, October 9th. American Tower’s payout ratio is currently 121.80%.
Insider Buying and Selling
In related news, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the transaction, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,723 shares of company stock worth $7,795,397. 0.18% of the stock is owned by insiders.
Hedge Funds Weigh In On American Tower
Institutional investors and hedge funds have recently made changes to their positions in the business. Cultivar Capital Inc. purchased a new position in shares of American Tower in the 2nd quarter worth $25,000. Fortitude Family Office LLC grew its stake in shares of American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares in the last quarter. Fairscale Capital LLC purchased a new position in shares of American Tower in the 2nd quarter worth $27,000. Hobbs Group Advisors LLC purchased a new position in shares of American Tower in the 2nd quarter worth $29,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of American Tower in the 3rd quarter worth $30,000. 92.69% of the stock is owned by hedge funds and other institutional investors.
American Tower Company Profile
American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.
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