$2.34 EPS Expected for American Tower Co. (REIT) (NYSE:AMT) This Quarter

Wall Street analysts expect American Tower Co. (REIT) (NYSE:AMT) to report earnings of $2.34 per share for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for American Tower’s earnings, with estimates ranging from $2.26 to $2.40. American Tower reported earnings per share of $2.23 in the same quarter last year, which suggests a positive year over year growth rate of 4.9%. The company is expected to announce its next quarterly earnings results on Thursday, November 4th.

According to Zacks, analysts expect that American Tower will report full year earnings of $9.53 per share for the current fiscal year, with EPS estimates ranging from $9.35 to $9.66. For the next fiscal year, analysts anticipate that the business will post earnings of $10.30 per share, with EPS estimates ranging from $9.90 to $10.52. Zacks’ EPS averages are an average based on a survey of research analysts that cover American Tower.

American Tower (NYSE:AMT) last released its earnings results on Wednesday, July 28th. The real estate investment trust reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.62). American Tower had a return on equity of 44.60% and a net margin of 25.84%.

A number of research firms have recently weighed in on AMT. Citigroup downgraded American Tower from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 13th. Wells Fargo & Company boosted their target price on American Tower from $280.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, July 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on American Tower from $250.00 to $295.00 and gave the stock a “hold” rating in a research note on Thursday, July 8th. They noted that the move was a valuation call. Morgan Stanley lifted their price objective on American Tower from $270.00 to $316.00 and gave the stock an “equal weight” rating in a research note on Friday, September 10th. They noted that the move was a valuation call. Finally, Truist lifted their price objective on American Tower from $280.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, July 30th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $298.29.

In related news, Director Robert D. Hormats sold 100 shares of the stock in a transaction that occurred on Tuesday, July 6th. The stock was sold at an average price of $272.87, for a total transaction of $27,287.00. Following the sale, the director now owns 6,640 shares of the company’s stock, valued at $1,811,856.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David E. Sharbutt sold 739 shares of the stock in a transaction that occurred on Friday, September 3rd. The stock was sold at an average price of $300.71, for a total value of $222,224.69. The disclosure for this sale can be found here. Insiders have sold 9,085 shares of company stock worth $2,552,330 in the last quarter. 0.68% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC boosted its holdings in shares of American Tower by 5.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,645,187 shares of the real estate investment trust’s stock valued at $444,431,000 after purchasing an additional 85,879 shares in the last quarter. GoalVest Advisory LLC boosted its holdings in shares of American Tower by 695.0% in the 2nd quarter. GoalVest Advisory LLC now owns 1,431 shares of the real estate investment trust’s stock valued at $387,000 after purchasing an additional 1,251 shares in the last quarter. IronBridge Private Wealth LLC acquired a new stake in shares of American Tower in the 2nd quarter valued at $4,596,000. B. Metzler seel. Sohn & Co. Holding AG lifted its stake in shares of American Tower by 0.5% in the 2nd quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 29,092 shares of the real estate investment trust’s stock valued at $7,859,000 after acquiring an additional 139 shares during the last quarter. Finally, EP Wealth Advisors LLC lifted its stake in shares of American Tower by 7.7% in the 2nd quarter. EP Wealth Advisors LLC now owns 155,144 shares of the real estate investment trust’s stock valued at $41,911,000 after acquiring an additional 11,139 shares during the last quarter. 89.57% of the stock is currently owned by institutional investors and hedge funds.

Shares of AMT stock traded down $0.69 on Friday, reaching $295.71. 22,379 shares of the stock were exchanged, compared to its average volume of 1,857,303. The stock has a market cap of $134.59 billion, a PE ratio of 59.76, a P/E/G ratio of 2.07 and a beta of 0.24. American Tower has a one year low of $197.50 and a one year high of $303.72. The company has a debt-to-equity ratio of 4.83, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a 50 day moving average price of $286.28 and a 200 day moving average price of $260.52.

About American Tower

American Tower Corp. provides real estate investment services, and owns, operates, and develops multitenant communications real estate properties. It operates through the following segments: U.S. & Canada, Asia-Pacific, Europe, Africa Latin America, and Services. The Asia-Pacific segment refers to the operations in Australia and India.

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