Analysts expect that American Tower Corporation (REIT) (NYSE:AMT) will announce $1.68 billion in sales for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for American Tower Corporation (REIT)’s earnings, with estimates ranging from $1.67 billion to $1.68 billion. American Tower Corporation (REIT) reported sales of $1.51 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 11.3%. The business is expected to report its next quarterly earnings results on Thursday, October 26th.

On average, analysts expect that American Tower Corporation (REIT) will report full-year sales of $1.68 billion for the current financial year, with estimates ranging from $6.63 billion to $6.67 billion. For the next financial year, analysts expect that the company will post sales of $7.15 billion per share, with estimates ranging from $6.99 billion to $7.43 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow American Tower Corporation (REIT).

American Tower Corporation (REIT) (NYSE:AMT) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.55 by ($0.75). American Tower Corporation (REIT) had a return on equity of 16.70% and a net margin of 18.58%. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period last year, the company earned $1.38 earnings per share. The firm’s revenue was up 15.3% compared to the same quarter last year.

A number of analysts recently issued reports on the company. Jefferies Group LLC restated a “buy” rating and set a $144.00 target price on shares of American Tower Corporation (REIT) in a report on Tuesday. UBS AG raised their target price on American Tower Corporation (REIT) from $150.00 to $163.00 and gave the company a “buy” rating in a report on Monday. Royal Bank Of Canada restated a “buy” rating and set a $153.00 target price on shares of American Tower Corporation (REIT) in a report on Friday, September 1st. Citigroup Inc. raised their target price on American Tower Corporation (REIT) from $142.00 to $167.00 and gave the company a “buy” rating in a report on Monday, August 28th. Finally, BidaskClub upgraded American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Thirteen equities research analysts have rated the stock with a buy rating, American Tower Corporation (REIT) currently has a consensus rating of “Buy” and an average target price of $148.58.

In other news, Director Pamela D. A. Reeve sold 5,000 shares of American Tower Corporation (REIT) stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $143.49, for a total value of $717,450.00. Following the completion of the transaction, the director now owns 17,758 shares in the company, valued at approximately $2,548,095.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Amit Sharma sold 20,747 shares of American Tower Corporation (REIT) stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $139.67, for a total value of $2,897,733.49. Following the completion of the transaction, the executive vice president now owns 101,605 shares of the company’s stock, valued at approximately $14,191,170.35. The disclosure for this sale can be found here. Insiders sold a total of 46,295 shares of company stock valued at $6,387,520 in the last quarter. Company insiders own 0.86% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Intl Fcstone Inc. purchased a new position in shares of American Tower Corporation (REIT) in the 2nd quarter valued at about $1,193,000. Gs Investments Inc. purchased a new position in shares of American Tower Corporation (REIT) in the 2nd quarter valued at about $812,000. Brookfield Asset Management Inc. boosted its stake in shares of American Tower Corporation (REIT) by 10.3% in the 2nd quarter. Brookfield Asset Management Inc. now owns 2,628,643 shares of the real estate investment trust’s stock valued at $347,822,000 after buying an additional 244,700 shares during the period. Achmea Investment Management B.V. boosted its stake in shares of American Tower Corporation (REIT) by 133.8% in the 2nd quarter. Achmea Investment Management B.V. now owns 21,522 shares of the real estate investment trust’s stock valued at $2,845,000 after buying an additional 12,315 shares during the period. Finally, Atlantic Trust LLC boosted its stake in shares of American Tower Corporation (REIT) by 0.5% in the 2nd quarter. Atlantic Trust LLC now owns 4,345 shares of the real estate investment trust’s stock valued at $575,000 after buying an additional 21 shares during the period. Institutional investors and hedge funds own 92.09% of the company’s stock.

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Shares of American Tower Corporation (NYSE:AMT) opened at 144.83 on Wednesday. The company has a 50-day moving average of $140.99 and a 200-day moving average of $129.72. The stock has a market capitalization of $62.16 billion, a price-to-earnings ratio of 57.93 and a beta of 0.70. American Tower Corporation has a 1-year low of $99.72 and a 1-year high of $148.71.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Friday, September 29th will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 1.82%. This is a boost from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. American Tower Corporation (REIT)’s dividend payout ratio (DPR) is presently 102.81%.

About American Tower Corporation (REIT)

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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