American Tower Corporation (REIT) (NYSE:AMT) had its price objective raised by UBS AG from $150.00 to $163.00 in a research report released on Monday morning, 99wallstreet.com reports. The firm currently has a buy rating on the real estate investment trust’s stock.

Several other research firms have also commented on AMT. BidaskClub lowered shares of American Tower Corporation (REIT) from a buy rating to a hold rating in a report on Tuesday, June 13th. Zacks Investment Research upgraded shares of American Tower Corporation (REIT) from a hold rating to a buy rating and set a $152.00 price target for the company in a report on Thursday, August 3rd. Cowen and Company restated a buy rating and issued a $155.00 price target on shares of American Tower Corporation (REIT) in a report on Wednesday, July 19th. Deutsche Bank AG boosted their price target on shares of American Tower Corporation (REIT) from $145.00 to $157.00 and gave the company a buy rating in a report on Friday, July 14th. Finally, Stifel Nicolaus restated a buy rating and issued a $150.00 price target on shares of American Tower Corporation (REIT) in a report on Thursday, July 6th. Thirteen equities research analysts have rated the stock with a buy rating, The company has a consensus rating of Buy and an average price target of $148.58.

Shares of American Tower Corporation (AMT) opened at 143.70 on Monday. The firm has a 50-day moving average of $141.21 and a 200-day moving average of $129.96. American Tower Corporation has a one year low of $99.72 and a one year high of $148.71. The stock has a market cap of $61.67 billion, a PE ratio of 57.48 and a beta of 0.70.

American Tower Corporation (REIT) (NYSE:AMT) last posted its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.75). American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the firm posted $1.38 EPS. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, equities research analysts expect that American Tower Corporation will post $3.02 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Friday, September 29th will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Thursday, September 28th. This is a positive change from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. American Tower Corporation (REIT)’s payout ratio is 102.81%.

In other American Tower Corporation (REIT) news, EVP Amit Sharma sold 20,747 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $139.67, for a total transaction of $2,897,733.49. Following the sale, the executive vice president now owns 101,605 shares of the company’s stock, valued at approximately $14,191,170.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Steven C. Marshall sold 20,548 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $134.92, for a total transaction of $2,772,336.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 80,295 shares of company stock valued at $11,347,780. 0.86% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. grew its position in American Tower Corporation (REIT) by 33.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 81,470 shares of the real estate investment trust’s stock worth $10,780,000 after purchasing an additional 20,222 shares during the last quarter. Acadian Asset Management LLC grew its position in American Tower Corporation (REIT) by 296.4% during the 1st quarter. Acadian Asset Management LLC now owns 4,761 shares of the real estate investment trust’s stock worth $579,000 after purchasing an additional 3,560 shares during the last quarter. Telos Capital Management Inc. grew its position in American Tower Corporation (REIT) by 17.0% during the 1st quarter. Telos Capital Management Inc. now owns 13,033 shares of the real estate investment trust’s stock worth $1,584,000 after purchasing an additional 1,897 shares during the last quarter. Wellington Management Group LLP grew its position in American Tower Corporation (REIT) by 8.4% during the 1st quarter. Wellington Management Group LLP now owns 21,788,278 shares of the real estate investment trust’s stock worth $2,648,146,000 after purchasing an additional 1,679,615 shares during the last quarter. Finally, State of Tennessee Treasury Department grew its position in American Tower Corporation (REIT) by 9.7% during the 2nd quarter. State of Tennessee Treasury Department now owns 349,736 shares of the real estate investment trust’s stock worth $46,277,000 after purchasing an additional 30,885 shares during the last quarter. 92.09% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for American Tower Corporation (REIT) (NYSE:AMT)

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