American Tower Corporation (NYSE:AMT) Receives $218.79 Average PT from Analysts

American Tower Corporation (NYSE:AMT) has been assigned an average recommendation of “Moderate Buy” from the twenty analysts that are presently covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $218.7895.

AMT has been the topic of several research reports. Morgan Stanley dropped their price target on American Tower from $255.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, December 4th. HSBC reduced their target price on shares of American Tower from $235.00 to $205.00 in a research report on Wednesday, October 29th. Citigroup reissued a “market outperform” rating on shares of American Tower in a research report on Wednesday, October 29th. Royal Bank Of Canada dropped their price objective on shares of American Tower from $220.00 to $195.00 and set a “sector perform” rating on the stock in a research note on Monday, January 12th. Finally, BMO Capital Markets downgraded shares of American Tower from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $210.00 to $185.00 in a research note on Friday, January 9th.

American Tower Stock Down 2.3%

American Tower stock traded down $4.11 during trading hours on Thursday, hitting $172.45. 842,924 shares of the stock traded hands, compared to its average volume of 3,150,104. American Tower has a one year low of $166.88 and a one year high of $234.33. The firm’s 50-day moving average price is $177.11 and its two-hundred day moving average price is $189.29. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.24. The company has a market cap of $80.73 billion, a PE ratio of 27.53, a PEG ratio of 0.72 and a beta of 0.93.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, December 29th were paid a dividend of $1.70 per share. The ex-dividend date was Monday, December 29th. This represents a $6.80 dividend on an annualized basis and a yield of 3.9%. American Tower’s payout ratio is presently 108.63%.

Insider Activity at American Tower

In other news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the completion of the transaction, the insider directly owned 211,379 shares in the company, valued at $14,743,685.25. This trade represents a 91.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Institutional Trading of American Tower

Institutional investors and hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of American Tower by 8.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,793 shares of the real estate investment trust’s stock valued at $18,615,000 after acquiring an additional 7,872 shares during the last quarter. Eastern Bank increased its position in shares of American Tower by 69.6% during the 3rd quarter. Eastern Bank now owns 139,091 shares of the real estate investment trust’s stock valued at $26,750,000 after purchasing an additional 57,078 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in American Tower by 92.4% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 61,397 shares of the real estate investment trust’s stock valued at $11,808,000 after buying an additional 29,486 shares during the period. Stack Financial Management Inc bought a new stake in American Tower in the second quarter worth $13,020,000. Finally, Los Angeles Capital Management LLC boosted its stake in American Tower by 52.5% during the second quarter. Los Angeles Capital Management LLC now owns 321,661 shares of the real estate investment trust’s stock worth $71,094,000 after buying an additional 110,671 shares during the period. Institutional investors own 92.69% of the company’s stock.

American Tower Company Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.