Shares of American Tower Corp (NYSE:AMT) have received an average rating of “Buy” from the eighteen research firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $158.67.

AMT has been the subject of a number of recent analyst reports. Jefferies Group reissued a “buy” rating and set a $144.00 price target on shares of American Tower in a research report on Tuesday, September 12th. Macquarie raised their price target on shares of American Tower from $162.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 1st. BidaskClub raised shares of American Tower from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Zacks Investment Research downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, KeyCorp set a $156.00 price target on shares of American Tower and gave the stock an “overweight” rating in a research report on Wednesday, November 1st.

In related news, EVP Edmund Disanto sold 10,000 shares of American Tower stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $136.00, for a total transaction of $1,360,000.00. Following the sale, the executive vice president now directly owns 151,928 shares in the company, valued at $20,662,208. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of American Tower stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $145.89, for a total transaction of $4,960,260.00. Following the sale, the chairman now owns 304,707 shares in the company, valued at $44,453,704.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 122,000 shares of company stock valued at $17,580,160. Corporate insiders own 0.86% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of American Tower by 3.2% during the second quarter. Vanguard Group Inc. now owns 28,442,502 shares of the real estate investment trust’s stock valued at $3,763,512,000 after purchasing an additional 881,020 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of American Tower by 5.4% during the third quarter. Janus Henderson Group PLC now owns 7,868,533 shares of the real estate investment trust’s stock valued at $1,075,458,000 after purchasing an additional 400,117 shares in the last quarter. Northern Trust Corp raised its stake in shares of American Tower by 9.2% during the second quarter. Northern Trust Corp now owns 6,566,346 shares of the real estate investment trust’s stock valued at $868,858,000 after purchasing an additional 550,608 shares in the last quarter. Edgewood Management LLC raised its stake in shares of American Tower by 1.6% during the third quarter. Edgewood Management LLC now owns 6,326,717 shares of the real estate investment trust’s stock valued at $864,736,000 after purchasing an additional 99,052 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of American Tower by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,164,598 shares of the real estate investment trust’s stock valued at $432,537,000 after purchasing an additional 166,910 shares in the last quarter. Institutional investors and hedge funds own 91.89% of the company’s stock.

American Tower (NYSE AMT) traded down $1.63 during mid-day trading on Thursday, hitting $142.47. 1,700,000 shares of the stock were exchanged, compared to its average volume of 2,170,000. American Tower has a twelve month low of $102.43 and a twelve month high of $155.28. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a market capitalization of $61,100.00, a P/E ratio of 22.05, a P/E/G ratio of 1.68 and a beta of 0.72.

American Tower declared that its Board of Directors has initiated a stock repurchase plan on Thursday, December 7th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Thursday, December 28th will be issued a dividend of $0.70 per share. This is an increase from American Tower’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Wednesday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 1.97%. American Tower’s payout ratio is 100.38%.

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American Tower Company Profile

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 (NYSE:AMT)

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