Analysts Set American Tower Co. (NYSE:AMT) PT at $221.67

American Tower Co. (NYSE:AMT) has received a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $221.67.

AMT has been the topic of several research reports. Scotiabank cut their price target on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a report on Wednesday, May 1st. BMO Capital Markets cut their price target on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Barclays cut their price target on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Raymond James upgraded shares of American Tower from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $226.00 to $248.00 in a report on Wednesday, May 1st. Finally, Morgan Stanley raised their price objective on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th.

American Tower Stock Performance

AMT opened at $195.96 on Wednesday. American Tower has a 52-week low of $154.58 and a 52-week high of $219.10. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. The company has a market cap of $91.51 billion, a P/E ratio of 44.33, a price-to-earnings-growth ratio of 1.40 and a beta of 0.81. The firm’s 50-day moving average price is $191.27 and its 200-day moving average price is $194.09.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). American Tower had a net margin of 18.42% and a return on equity of 18.45%. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same quarter last year, the company earned $2.54 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that American Tower will post 10.03 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be paid a $1.62 dividend. The ex-dividend date is Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a yield of 3.31%. American Tower’s dividend payout ratio is currently 146.61%.

Insider Activity at American Tower

In related news, EVP Sanjay Goel sold 3,504 shares of American Tower stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total value of $702,061.44. Following the sale, the executive vice president now owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other American Tower news, Director Robert D. Hormats sold 700 shares of American Tower stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the sale, the director now owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Sanjay Goel sold 3,504 shares of American Tower stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the sale, the executive vice president now directly owns 28,413 shares in the company, valued at approximately $5,692,828.68. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On American Tower

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMT. Northwest Investment Counselors LLC acquired a new stake in American Tower during the 1st quarter worth $25,000. Gold Investment Management Ltd. acquired a new stake in American Tower during the 4th quarter worth $28,000. Thompson Investment Management Inc. acquired a new stake in American Tower during the 4th quarter worth $29,000. SOA Wealth Advisors LLC. acquired a new stake in American Tower during the 1st quarter worth $30,000. Finally, Private Wealth Management Group LLC acquired a new position in shares of American Tower during the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.