American Tower Co. (NYSE:AMT) Receives $235.54 Average Target Price from Analysts

Shares of American Tower Co. (NYSE:AMT) have been given a consensus recommendation of “Moderate Buy” by the thirteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $235.54.

AMT has been the topic of several analyst reports. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lifted their price target on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Royal Bank of Canada lifted their price target on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Scotiabank reduced their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. Finally, Mizuho lifted their price target on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th.

American Tower Trading Down 1.0 %

Shares of AMT stock opened at $207.10 on Friday. The stock’s fifty day moving average is $213.78 and its two-hundred day moving average is $212.73. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $96.78 billion, a P/E ratio of 87.38, a PEG ratio of 1.38 and a beta of 0.83. American Tower has a fifty-two week low of $170.46 and a fifty-two week high of $243.56.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.58 EPS. Research analysts expect that American Tower will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be issued a $1.62 dividend. The ex-dividend date is Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.13%. American Tower’s dividend payout ratio (DPR) is currently 273.42%.

Hedge Funds Weigh In On American Tower

Institutional investors have recently bought and sold shares of the company. Fortitude Family Office LLC grew its position in 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 valued at $25,000 after acquiring an additional 78 shares in the last quarter. Fairscale Capital LLC acquired a new position in American Tower in the 2nd quarter valued at about $27,000. Northwest Investment Counselors LLC acquired a new position in American Tower in the 3rd quarter valued at about $30,000. Cultivar Capital Inc. acquired a new position in American Tower in the 2nd quarter valued at about $25,000. Finally, Hara Capital LLC acquired a new position in American Tower in the 3rd quarter valued at about $31,000. 92.69% of the stock is owned by institutional investors and hedge funds.

About American Tower

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.