American Tower Corp (NYSE:AMT) has been given a consensus rating of “Hold” by the eighteen brokerages that are presently covering the stock, MarketBeat.com reports. Ten research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $204.36.

AMT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of American Tower from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Morgan Stanley raised their price target on shares of American Tower from $185.00 to $201.00 and gave the company an “equal weight” rating in a research report on Monday, May 20th. Zacks Investment Research raised shares of American Tower from a “hold” rating to a “buy” rating and set a $237.00 price target on the stock in a research report on Tuesday, August 20th. SunTrust Banks raised their price target on shares of American Tower to $230.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, KeyCorp raised their price target on shares of American Tower from $225.00 to $253.00 and gave the company an “overweight” rating in a research report on Monday, August 19th.

Shares of AMT traded up $0.31 during trading hours on Friday, reaching $230.45. 85,399 shares of the stock traded hands, compared to its average volume of 1,695,048. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 4.13. The stock has a fifty day simple moving average of $215.84 and a 200 day simple moving average of $200.65. American Tower has a 52 week low of $140.40 and a 52 week high of $231.77. The company has a market cap of $101.85 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 1.87 and a beta of 0.50.

American Tower (NYSE:AMT) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.91). American Tower had a net margin of 19.30% and a return on equity of 24.75%. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the business earned $1.74 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts predict that American Tower will post 7.67 earnings per share for the current fiscal year.

In related news, Director Craig Macnab sold 5,953 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $225.46, for a total transaction of $1,342,163.38. Following the completion of the sale, the director now owns 14,341 shares in the company, valued at $3,233,321.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James D. Taiclet, Jr. sold 57,439 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $207.93, for a total transaction of $11,943,291.27. Following the sale, the chief executive officer now owns 255,415 shares of the company’s stock, valued at approximately $53,108,440.95. The disclosure for this sale can be found here. Insiders have sold 196,973 shares of company stock valued at $40,927,162 in the last 90 days. 0.75% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Cable Hill Partners LLC increased its stake in shares of American Tower by 61.9% in the first quarter. Cable Hill Partners LLC now owns 136 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 52 shares in the last quarter. Nelson Roberts Investment Advisors LLC purchased a new position in shares of American Tower in the second quarter worth about $27,000. Next Capital Management LLC purchased a new position in shares of American Tower in the second quarter worth about $31,000. NewSquare Capital LLC increased its stake in shares of American Tower by 192.3% in the second quarter. NewSquare Capital LLC now owns 152 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 100 shares in the last quarter. Finally, CX Institutional increased its stake in shares of American Tower by 54.9% in the second quarter. CX Institutional now owns 158 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 56 shares in the last quarter. Institutional investors and hedge funds own 93.22% 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 approximately 171,000 communications sites.

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Analyst Recommendations for American Tower (NYSE:AMT)

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