American Tower Co. (NYSE:AMT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Posted by Defense World Staff on May 5th, 2023

Shares of American Tower Co. (NYSE:AMT – Get Rating) have been given a consensus recommendation of “Moderate Buy” by the nineteen brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $258.12.

A number of brokerages have recently commented on AMT. Barclays increased their price target on shares of American Tower from $229.00 to $233.00 in a report on Monday. The Goldman Sachs Group upgraded American Tower from a “neutral” rating to a “buy” rating and raised their price target for the company from $215.00 to $245.00 in a research report on Tuesday, January 10th. StockNews.com initiated coverage on American Tower in a report on Thursday, March 16th. They issued a “hold” rating for the company. Morgan Stanley decreased their price objective on American Tower from $224.00 to $215.00 in a report on Tuesday, April 18th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on American Tower from $254.00 to $245.00 in a research report on Tuesday, March 7th.

Insiders Place Their Bets

In other news, Director Samme L. Thompson sold 1,739 shares of the stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $218.59, for a total value of $380,128.01. Following the completion of the transaction, the director now owns 22,099 shares of the company’s stock, valued at approximately $4,830,620.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.24% of the stock is currently owned by company insiders.

Institutional Trading of American Tower

A number of hedge funds and other institutional investors have recently modified their holdings of AMT. EWG Elevate Inc. purchased a new stake in American Tower in the fourth quarter worth about $25,000. New England Capital Financial Advisors LLC purchased a new stake in shares of American Tower in the 4th quarter worth approximately $26,000. J.Safra Asset Management Corp increased its position in American Tower by 629.4% during the 4th quarter. J.Safra Asset Management Corp now owns 124 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 107 shares in the last quarter. Elequin Securities LLC purchased a new position in American Tower during the fourth quarter valued at $28,000. Finally, Pinnacle Holdings LLC bought a new stake in American Tower in the first quarter worth $29,000. 89.65% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Up 1.3 %

AMT opened at $194.40 on Friday. The company has a debt-to-equity ratio of 2.83, a current ratio of 0.61 and a quick ratio of 0.54. American Tower has a one year low of $178.17 and a one year high of $282.47. The firm has a market capitalization of $90.52 billion, a P/E ratio of 64.80, a price-to-earnings-growth ratio of 1.31 and a beta of 0.57. The company has a fifty day moving average price of $200.69 and a 200-day moving average price of $209.18.

American Tower (NYSE:AMT – Get Rating) last posted its earnings results on Wednesday, April 26th. The real estate investment trust reported $0.72 EPS for the quarter, missing the consensus estimate of $2.28 by ($1.56). The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.74 billion. American Tower had a return on equity of 11.65% and a net margin of 12.85%. American Tower’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.55 earnings per share. Equities research analysts expect that American Tower will post 9.26 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 28th. Investors of record on Friday, April 14th were paid a $1.56 dividend. This represents a $6.24 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Thursday, April 13th. American Tower’s payout ratio is currently 208.00%.

American Tower Company Profile

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American Tower Corp. provides real estate investment services, and owns, operates, and develops multi-tenant real estate properties. It offers leasing of space on communications sites to wireless service providers, radio and television broadcast companies. It operates through the following segments: U.S.