American Tower (NYSE:AMT) Price Target Raised to $223.00

American Tower (NYSE:AMT) had its price objective hoisted by Barclays from $214.00 to $223.00 in a report released on Friday,Benzinga reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

A number of other analysts also recently weighed in on the company. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a report on Monday, January 27th. Citigroup lifted their target price on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, March 10th. JMP Securities initiated coverage on American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target on the stock. Scotiabank lowered their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday, January 23rd. Finally, Mizuho cut their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $229.43.

American Tower Trading Up 1.0 %

NYSE AMT opened at $216.41 on Friday. The business’s 50-day moving average price is $195.99 and its two-hundred day moving average price is $205.61. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market capitalization of $101.16 billion, a PE ratio of 91.31, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. American Tower has a 12 month low of $170.46 and a 12 month high of $243.56.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter last year, the business earned $2.29 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. On average, analysts expect that American Tower will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be issued a dividend of $1.70 per share. The ex-dividend date is Friday, April 11th. This represents a $6.80 annualized dividend and a yield of 3.14%. This is an increase from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio is 141.37%.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On American Tower

Institutional investors have recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new position in shares of American Tower in the 3rd quarter worth approximately $34,000. Minot DeBlois Advisors LLC purchased a new position in American Tower in the fourth quarter worth $29,000. Graney & King LLC bought a new position in American Tower in the 4th quarter valued at $32,000. Roxbury Financial LLC purchased a new stake in shares of American Tower during the 4th quarter valued at $32,000. Finally, Crowley Wealth Management Inc. bought a new stake in shares of American Tower during the 4th quarter worth $37,000. 92.69% of the stock is owned by institutional investors.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.