American Tower (NYSE:AMT) Upgraded to Buy by Edward Jones

Edward Jones upgraded shares of American Tower (NYSE:AMT) from a hold rating to a buy rating in a report published on Tuesday morning, BenzingaRatingsTable reports.

Several other equities research analysts have also commented on the stock. New Street Research upgraded shares of American Tower from a neutral rating to a buy rating in a report on Thursday, March 12th. Goldman Sachs Group upgraded shares of American Tower from a neutral rating to a buy rating and boosted their price target for the company from $204.00 to $270.00 in a report on Monday, January 13th. KeyCorp boosted their price target on shares of American Tower from $254.00 to $273.00 and gave the company an overweight rating in a report on Wednesday, February 26th. Credit Suisse Group restated a hold rating and issued a $265.00 price target on shares of American Tower in a report on Wednesday, February 26th. Finally, Citigroup raised shares of American Tower from a neutral rating to a buy rating and set a $280.00 price objective on the stock in a research report on Thursday, March 5th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $239.50.

Shares of NYSE:AMT traded up $8.99 during trading hours on Tuesday, hitting $199.26. The company’s stock had a trading volume of 3,201,548 shares, compared to its average volume of 2,321,523. American Tower has a 52 week low of $174.32 and a 52 week high of $258.62. The company has a debt-to-equity ratio of 5.03, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market capitalization of $79.32 billion, a price-to-earnings ratio of 47.11, a P/E/G ratio of 1.21 and a beta of 0.41. The firm’s fifty day moving average price is $235.54 and its 200 day moving average price is $225.48.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $1.26 EPS for the quarter, missing the consensus estimate of $1.86 by ($0.60). American Tower had a net margin of 24.90% and a return on equity of 32.51%. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the prior year, the firm posted $0.62 EPS. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. On average, equities research analysts predict that American Tower will post 8.32 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 29th. Stockholders of record on Tuesday, April 14th will be given a $1.08 dividend. The ex-dividend date is Monday, April 13th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.17%. This is an increase from American Tower’s previous quarterly dividend of $1.01. American Tower’s payout ratio is presently 52.26%.

In other American Tower news, EVP Steven O. Vondran sold 1,261 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $229.68, for a total transaction of $289,626.48. Following the sale, the executive vice president now owns 28,705 shares of the company’s stock, valued at approximately $6,592,964.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Samme L. Thompson sold 3,000 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $227.56, for a total transaction of $682,680.00. Following the completion of the sale, the director now directly owns 22,598 shares in the company, valued at $5,142,400.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,144 shares of company stock worth $2,332,308. Insiders own 0.75% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Country Trust Bank lifted its stake in shares of American Tower by 289.3% in the 4th quarter. Country Trust Bank now owns 109 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 81 shares during the period. CXI Advisors acquired a new position in American Tower during the fourth quarter worth $27,000. Brooktree Capital Management acquired a new position in American Tower during the fourth quarter worth $29,000. TI Trust Inc. acquired a new position in American Tower during the fourth quarter worth $34,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in American Tower during the fourth quarter worth $34,000. 92.24% of the stock is currently owned by institutional investors and hedge funds.

American Tower Company Profile

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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