American Tower Corporation (REIT) (NYSE:AMT) Price Target Increased to $163.00 by Analysts at UBS AG

American Tower Corporation (REIT) (NYSE:AMT) had its price target lifted by UBS AG from $150.00 to $163.00 in a research note published on Monday, September 11th, 99wallstreet.com reports. UBS AG currently has a buy rating on the real estate investment trust’s stock.

AMT has been the subject of a number of other reports. Zacks Investment Research lowered American Tower Corporation (REIT) from a buy rating to a hold rating in a report on Wednesday, August 2nd. Raymond James Financial, Inc. restated an outperform rating on shares of American Tower Corporation (REIT) in a research note on Monday, June 12th. Citigroup Inc. downgraded American Tower Corporation (REIT) to an outperform rating and set a $147.00 target price on the stock. in a research note on Monday, June 12th. BidaskClub downgraded American Tower Corporation (REIT) from a buy rating to a hold rating in a research note on Saturday, July 1st. Finally, Argus upped their price objective on American Tower Corporation (REIT) from $140.00 to $150.00 and gave the company a buy rating in a research note on Thursday, August 3rd. Fourteen investment analysts have rated the stock with a buy rating, The company has a consensus rating of Buy and a consensus price target of $148.58.

American Tower Corporation (AMT) opened at 139.40 on Monday. The firm has a market capitalization of $59.83 billion, a price-to-earnings ratio of 55.76 and a beta of 0.70. The stock’s 50 day moving average price is $142.16 and its 200-day moving average price is $131.01. American Tower Corporation has a one year low of $99.72 and a one year high of $148.71.

American Tower Corporation (REIT) (NYSE:AMT) last posted its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by ($0.75). American Tower Corporation (REIT) had a return on equity of 16.70% and a net margin of 18.58%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the business posted $1.38 earnings per share. The business’s revenue was up 15.3% on a year-over-year basis. On average, equities research analysts anticipate that American Tower Corporation will post $3.02 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Friday, September 29th will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, September 28th. This is a boost from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. American Tower Corporation (REIT)’s dividend payout ratio is currently 102.81%.

In other American Tower Corporation (REIT) news, Chairman James D. Taiclet, Jr. sold 34,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $145.89, for a total transaction of $4,960,260.00. Following the completion of the sale, the chairman now directly owns 304,707 shares in the company, valued at $44,453,704.23. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Pamela D. A. Reeve sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $143.49, for a total transaction of $717,450.00. Following the sale, the director now owns 17,758 shares of the company’s stock, valued at $2,548,095.42. The disclosure for this sale can be found here. In the last three months, insiders sold 80,295 shares of company stock worth $11,347,780. 0.86% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Alexandria Capital LLC boosted its holdings in shares of American Tower Corporation (REIT) by 0.5% during the second quarter. Alexandria Capital LLC now owns 812 shares of the real estate investment trust’s stock worth $107,000 after purchasing an additional 4 shares during the period. Cornerstone Advisors Inc. boosted its holdings in shares of American Tower Corporation (REIT) by 1.2% during the second quarter. Cornerstone Advisors Inc. now owns 1,235 shares of the real estate investment trust’s stock worth $163,000 after purchasing an additional 15 shares during the period. Baxter Bros Inc. boosted its holdings in shares of American Tower Corporation (REIT) by 0.4% during the second quarter. Baxter Bros Inc. now owns 3,470 shares of the real estate investment trust’s stock worth $459,000 after purchasing an additional 15 shares during the period. Guardian Life Insurance Co. of America boosted its holdings in shares of American Tower Corporation (REIT) by 1.2% during the first quarter. Guardian Life Insurance Co. of America now owns 1,650 shares of the real estate investment trust’s stock worth $201,000 after purchasing an additional 19 shares during the period. Finally, HL Financial Services LLC boosted its holdings in shares of American Tower Corporation (REIT) by 0.5% during the second quarter. HL Financial Services LLC now owns 3,675 shares of the real estate investment trust’s stock worth $486,000 after purchasing an additional 19 shares during the period. Institutional investors own 92.06% of the company’s stock.

American Tower Corporation (REIT) Company Profile

American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

Analyst Recommendations for American Tower Corporation (REIT) (NYSE:AMT)

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