American Tower Corp. (NYSE:AMT) has been assigned a consensus recommendation of “Buy” from the twenty-four ratings firms that are covering the company. One research analyst has rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $120.05.

Several research firms have recently commented on AMT. Zacks Investment Research upgraded shares of American Tower Corp. from a “hold” rating to a “buy” rating and set a $126.00 target price for the company in a research note on Friday. SunTrust Banks Inc. began coverage on shares of American Tower Corp. in a research note on Monday, September 12th. They issued a “buy” rating and a $128.00 target price for the company. Jefferies Group restated a “buy” rating on shares of American Tower Corp. in a research note on Monday, September 12th. Argus raised their target price on shares of American Tower Corp. from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, August 17th. Finally, Citigroup Inc. reduced their target price on shares of American Tower Corp. from $134.00 to $133.00 and set a “buy” rating for the company in a research note on Wednesday, August 10th.

Shares of American Tower Corp. (NYSE:AMT) opened at 113.34 on Thursday. American Tower Corp. has a 52 week low of $83.07 and a 52 week high of $118.26. The stock has a market cap of $48.22 billion, a PE ratio of 70.35 and a beta of 0.62. The company’s 50-day moving average is $111.69 and its 200 day moving average is $110.39.

American Tower Corp. (NYSE:AMT) last released its earnings results on Thursday, July 28th. The real estate investment trust reported $1.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.36 by $0.03. American Tower Corp. had a return on equity of 11.73% and a net margin of 15.21%. The firm earned $1.44 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the business posted $1.26 EPS. The firm’s revenue was up 22.8% on a year-over-year basis. Analysts forecast that American Tower Corp. will post $5.70 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 17th. Investors of record on Friday, September 30th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.94%. This is an increase from American Tower Corp.’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Wednesday, September 28th. American Tower Corp.’s payout ratio is presently 136.65%.

In other American Tower Corp. news, Chairman James D. Taiclet, Jr. sold 40,625 shares of American Tower Corp. stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $108.80, for a total transaction of $4,420,000.00. Following the transaction, the chairman now directly owns 226,517 shares of the company’s stock, valued at $24,645,049.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Carolyn Katz sold 5,000 shares of American Tower Corp. stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $116.34, for a total transaction of $581,700.00. Following the transaction, the director now directly owns 14,484 shares in the company, valued at $1,685,068.56. The disclosure for this sale can be found here. 0.95% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Analysts LLC boosted its position in shares of American Tower Corp. by 158.1% in the second quarter. Capital Analysts LLC now owns 2,395 shares of the real estate investment trust’s stock worth $143,000 after buying an additional 1,467 shares during the period. Financial Architects Inc boosted its position in shares of American Tower Corp. by 15.5% in the second quarter. Financial Architects Inc now owns 1,289 shares of the real estate investment trust’s stock worth $147,000 after buying an additional 173 shares during the period. Kernodle & Katon Asset Management Group LLC boosted its position in shares of American Tower Corp. by 3.3% in the second quarter. Kernodle & Katon Asset Management Group LLC now owns 1,474 shares of the real estate investment trust’s stock worth $167,000 after buying an additional 47 shares during the period. WFG Advisors LP boosted its position in shares of American Tower Corp. by 1.2% in the second quarter. WFG Advisors LP now owns 1,473 shares of the real estate investment trust’s stock worth $167,000 after buying an additional 18 shares during the period. Finally, PineBridge Investments L.P. acquired a new position in shares of American Tower Corp. during the second quarter worth $173,000. 94.15% of the stock is currently owned by hedge funds and other institutional investors.

About American Tower Corp.

American Tower Corporation is a holding company. The company owns, operates and develops wireless and broadcast communications real estate. Its primary business is leasing antenna space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data and data providers, government agencies and municipalities.

5 Day Chart for NYSE:AMT

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