Jefferies Group LLC reiterated their buy rating on shares of American Tower Corporation (REIT) (NYSE:AMT) in a research note released on Tuesday. The brokerage currently has a $144.00 price objective on the real estate investment trust’s stock.

Other equities research analysts also recently issued reports about the company. BidaskClub raised American Tower Corporation (REIT) from a hold rating to a buy rating in a report on Wednesday, July 19th. Cowen and Company reissued a buy rating and issued a $155.00 target price on shares of American Tower Corporation (REIT) in a report on Wednesday, July 19th. Deutsche Bank AG boosted their target price on American Tower Corporation (REIT) from $145.00 to $157.00 and gave the stock a buy rating in a report on Friday, July 14th. Stifel Nicolaus reissued a buy rating and issued a $150.00 target price on shares of American Tower Corporation (REIT) in a report on Thursday, July 6th. Finally, Zacks Investment Research raised American Tower Corporation (REIT) from a hold rating to a buy rating and set a $152.00 target price on the stock in a report on Thursday, August 3rd. Thirteen analysts have rated the stock with a buy rating, American Tower Corporation (REIT) has an average rating of Buy and an average price target of $148.58.

Shares of American Tower Corporation (AMT) opened at 145.01 on Tuesday. American Tower Corporation has a 52-week low of $99.72 and a 52-week high of $148.71. The company has a 50-day moving average price of $141.85 and a 200-day moving average price of $130.37. The stock has a market capitalization of $62.23 billion, a price-to-earnings ratio of 58.00 and a beta of 0.70.

American Tower Corporation (REIT) (NYSE:AMT) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the firm posted $1.38 earnings per share. The company’s revenue was up 15.3% compared to the same quarter last year. On average, equities analysts anticipate that American Tower Corporation will post $3.02 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.66 per share. This is an increase from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Thursday, September 28th. American Tower Corporation (REIT)’s dividend payout ratio is presently 102.81%.

In other news, EVP Steven C. Marshall sold 20,548 shares of the company’s stock in a transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Pamela D. A. Reeve sold 5,000 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $143.49, for a total value of $717,450.00. Following the transaction, the director now directly owns 17,758 shares in the company, valued at $2,548,095.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 80,295 shares of company stock worth $11,347,780. Corporate insiders own 0.86% of the company’s stock.

A number of institutional investors have recently bought and sold shares of AMT. Janus Henderson Group PLC increased its position in American Tower Corporation (REIT) by 1,886.3% during the second quarter. Janus Henderson Group PLC now owns 7,468,416 shares of the real estate investment trust’s stock valued at $988,214,000 after acquiring an additional 7,092,413 shares during the last quarter. Wellington Management Group LLP increased its position in American Tower Corporation (REIT) by 8.4% during the first quarter. Wellington Management Group LLP now owns 21,788,278 shares of the real estate investment trust’s stock valued at $2,648,146,000 after acquiring an additional 1,679,615 shares during the last quarter. American Century Companies Inc. increased its position in American Tower Corporation (REIT) by 60.8% during the first quarter. American Century Companies Inc. now owns 3,986,977 shares of the real estate investment trust’s stock valued at $484,577,000 after acquiring an additional 1,507,172 shares during the last quarter. Dimensional Fund Advisors LP increased its position in American Tower Corporation (REIT) by 823.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,606,119 shares of the real estate investment trust’s stock valued at $212,525,000 after acquiring an additional 1,432,155 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in American Tower Corporation (REIT) by 3.8% during the first quarter. Vanguard Group Inc. now owns 27,561,482 shares of the real estate investment trust’s stock valued at $3,349,823,000 after acquiring an additional 1,008,946 shares during the last quarter. Institutional investors own 92.09% of the company’s stock.

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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