American Tower (NYSE:AMT) Receives New Coverage from Analysts at Jefferies Financial Group


Share on StockTwits

Jefferies Financial Group initiated coverage on shares of American Tower (NYSE:AMT) in a research note released on Monday, Benzinga reports. The brokerage issued a buy rating and a $278.00 price target on the real estate investment trust’s stock.

AMT has been the topic of several other reports. Credit Suisse Group lowered their target price on shares of American Tower from $307.00 to $296.00 and set an outperform rating on the stock in a research note on Thursday, March 4th. Royal Bank of Canada lowered their target price on shares of American Tower from $275.00 to $250.00 and set an outperform rating on the stock in a research note on Monday, March 15th. Cowen decreased their price target on shares of American Tower from $334.00 to $324.00 and set an outperform rating on the stock in a research note on Friday, February 26th. Wolfe Research initiated coverage on shares of American Tower in a research note on Thursday, March 18th. They issued an outperform rating on the stock. Finally, KeyCorp raised shares of American Tower from a sector weight rating to an overweight rating and set a $275.00 price target on the stock in a research note on Wednesday, March 31st. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. American Tower has a consensus rating of Buy and a consensus price target of $272.67.

NYSE:AMT opened at $248.54 on Monday. American Tower has a one year low of $197.50 and a one year high of $272.20. The company has a debt-to-equity ratio of 5.73, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a market cap of $110.45 billion, a price-to-earnings ratio of 58.76, a PEG ratio of 1.57 and a beta of 0.25. The firm’s fifty day moving average is $227.60 and its two-hundred day moving average is $229.02.

American Tower (NYSE:AMT) last posted its earnings results on Wednesday, February 24th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.45). American Tower had a return on equity of 42.42% and a net margin of 24.08%. The firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the previous year, the company earned $1.95 earnings per share. The company’s revenue was up 10.3% compared to the same quarter last year. As a group, equities research analysts predict that American Tower will post 8.16 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 29th. Shareholders of record on Tuesday, April 13th will be issued a $1.24 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.21. The ex-dividend date is Monday, April 12th. This represents a $4.96 dividend on an annualized basis and a yield of 2.00%. American Tower’s dividend payout ratio is presently 64.17%.

In other American Tower news, EVP Olivier Puech sold 3,268 shares of the stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $220.00, for a total value of $718,960.00. Following the completion of the sale, the executive vice president now owns 19,531 shares in the company, valued at approximately $4,296,820. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.65% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Arlington Partners LLC increased its holdings in shares of American Tower by 214.2% during the 1st quarter. Arlington Partners LLC now owns 839 shares of the real estate investment trust’s stock worth $201,000 after buying an additional 572 shares during the last quarter. IFG Advisory LLC increased its holdings in shares of American Tower by 4.2% during the 1st quarter. IFG Advisory LLC now owns 7,301 shares of the real estate investment trust’s stock worth $1,745,000 after buying an additional 292 shares during the last quarter. Sugarloaf Wealth Management LLC increased its holdings in shares of American Tower by 26.7% during the 1st quarter. Sugarloaf Wealth Management LLC now owns 6,795 shares of the real estate investment trust’s stock worth $1,624,000 after buying an additional 1,431 shares during the last quarter. RFG Advisory LLC increased its holdings in shares of American Tower by 5.3% during the 1st quarter. RFG Advisory LLC now owns 2,508 shares of the real estate investment trust’s stock worth $600,000 after buying an additional 127 shares during the last quarter. Finally, Gyroscope Capital Management Group LLC acquired a new stake in shares of American Tower during the 1st quarter worth approximately $1,255,000. Institutional investors and hedge funds own 89.97% of the company’s stock.

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 181,000 communications sites.

Further Reading: Different Types of Derivatives

Analyst Recommendations for American Tower (NYSE:AMT)

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.