KeyCorp set a $156.00 price target on American Tower Corporation (REIT) (NYSE:AMT) in a research note issued to investors on Wednesday. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

Several other equities research analysts have also recently issued reports on the stock. Royal Bank Of Canada reaffirmed a buy rating and set a $153.00 target price on shares of American Tower Corporation (REIT) in a research note on Friday, September 1st. Citigroup Inc. lifted their target price on shares of American Tower Corporation (REIT) from $142.00 to $167.00 and gave the stock a buy rating in a research note on Monday, August 28th. UBS AG lifted their target price on shares of American Tower Corporation (REIT) from $150.00 to $163.00 and gave the stock a buy rating in a research note on Monday, September 11th. BidaskClub upgraded American Tower Corporation (REIT) from a hold rating to a buy rating in a report on Saturday, August 26th. Finally, Zacks Investment Research lowered American Tower Corporation (REIT) from a hold rating to a sell rating in a report on Wednesday, July 5th. Fifteen analysts have rated the stock with a buy rating, American Tower Corporation (REIT) has an average rating of Buy and a consensus target price of $154.31.

Shares of American Tower Corporation (NYSE AMT) traded down $0.34 on Wednesday, reaching $142.10. 1,577,242 shares of the company’s stock traded hands, compared to its average volume of 1,998,578. American Tower Corporation has a 52 week low of $99.72 and a 52 week high of $148.71. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.78 and a current ratio of 1.42. The firm has a market cap of $60,940.44, a PE ratio of 22.00, a PEG ratio of 1.67 and a beta of 0.74.

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The company also recently announced a quarterly dividend, which was paid on Tuesday, October 17th. Shareholders of record on Friday, September 29th were given a $0.66 dividend. This is an increase from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. This represents a $2.64 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Thursday, September 28th. American Tower Corporation (REIT)’s payout ratio is currently 100.38%.

In other American Tower Corporation (REIT) news, Director Pamela D. A. Reeve sold 5,000 shares of American Tower Corporation (REIT) stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $143.49, for a total value of $717,450.00. Following the completion of the transaction, the director now directly owns 17,758 shares of the company’s stock, valued at approximately $2,548,095.42. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of American Tower Corporation (REIT) stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $145.89, for a total value of $4,960,260.00. Following the completion of the transaction, the chairman now directly owns 304,707 shares of the company’s stock, valued at $44,453,704.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,747 shares of company stock valued at $16,054,543. 0.86% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMT. Waldron LP acquired a new position in American Tower Corporation (REIT) in the 1st quarter valued at about $307,000. Cleararc Capital Inc. grew its position in American Tower Corporation (REIT) by 0.8% in the 1st quarter. Cleararc Capital Inc. now owns 10,443 shares of the real estate investment trust’s stock valued at $1,269,000 after acquiring an additional 81 shares in the last quarter. Edgewood Management LLC grew its position in American Tower Corporation (REIT) by 2.6% in the 1st quarter. Edgewood Management LLC now owns 5,925,839 shares of the real estate investment trust’s stock valued at $720,226,000 after acquiring an additional 151,527 shares in the last quarter. Croft Leominster Inc. grew its position in American Tower Corporation (REIT) by 1.7% in the 1st quarter. Croft Leominster Inc. now owns 44,031 shares of the real estate investment trust’s stock valued at $5,352,000 after acquiring an additional 745 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd acquired a new position in shares of American Tower Corporation (REIT) during the first quarter worth about $3,092,000. 92.05% of the stock is owned by institutional investors.

American Tower Corporation (REIT) 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 Corporation (REIT) (NYSE:AMT)

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