American Tower Corp (NYSE:AMT) – Jefferies Group dropped their Q1 2017 earnings per share estimates for American Tower Corp in a note issued to investors on Tuesday, according to Zacks Investment Research. Jefferies Group analyst M. Mccormack now anticipates that the real estate investment trust will post earnings per share of $1.51 for the quarter, down from their prior estimate of $1.54. Jefferies Group has a “Buy” rating and a $136.00 price objective on the stock. Jefferies Group also issued estimates for American Tower Corp’s FY2018 earnings at $6.87 EPS.
American Tower Corp (NYSE:AMT) last issued its earnings results on Monday, February 27th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.11. American Tower Corp had a return on equity of 14.05% and a net margin of 17.37%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the business earned $0.48 EPS. The company’s revenue for the quarter was up 20.3% on a year-over-year basis. ILLEGAL ACTIVITY NOTICE: This story was originally posted by BBNS and is the sole property of of BBNS. If you are accessing this story on another publication, it was illegally stolen and republished in violation of U.S. and international copyright legislation. The correct version of this story can be read at https://baseballnewssource.com/markets/jefferies-group-analysts-decrease-earnings-estimates-for-american-tower-corp-amt-2-updated-updated/525305.html.
Other equities analysts also recently issued reports about the stock. Guggenheim upgraded shares of American Tower Corp from a “neutral” rating to a “buy” rating and raised their target price for the company from $117.00 to $135.00 in a report on Monday, April 10th. Pacific Crest lifted their price target on shares of American Tower Corp to $132.00 in a report on Wednesday, March 22nd. Finally, Zacks Investment Research upgraded shares of American Tower Corp from a “sell” rating to a “hold” rating in a report on Wednesday, March 1st. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $128.26.
Shares of American Tower Corp (NYSE:AMT) traded down 0.17% on Friday, hitting $124.09. 1,029,424 shares of the company traded hands. American Tower Corp has a 12 month low of $99.72 and a 12 month high of $125.42. The company has a market capitalization of $53.01 billion, a PE ratio of 62.67 and a beta of 0.61. The stock’s 50-day moving average price is $118.93 and its 200-day moving average price is $110.58.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Wednesday, April 12th will be given a dividend of $0.62 per share. This is a boost from American Tower Corp’s previous quarterly dividend of $0.58. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Monday, April 10th. American Tower Corp’s payout ratio is presently 117.17%.
In related news, EVP Edmund Disanto sold 15,000 shares of American Tower Corp stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $120.78, for a total value of $1,811,700.00. Following the completion of the sale, the executive vice president now owns 156,893 shares in the company, valued at $18,949,536.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William H. Hess sold 90,489 shares of the business’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $120.96, for a total transaction of $10,945,549.44. Following the sale, the executive vice president now owns 126,987 shares of the company’s stock, valued at approximately $15,360,347.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 190,249 shares of company stock worth $22,541,591. Corporate insiders own 0.95% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Ancora Advisors LLC purchased a new position in shares of American Tower Corp during the fourth quarter valued at about $104,000. Cornerstone Advisors Inc. increased its position in shares of American Tower Corp by 95.6% in the third quarter. Cornerstone Advisors Inc. now owns 988 shares of the real estate investment trust’s stock valued at $112,000 after buying an additional 483 shares during the period. Hemenway Trust Co LLC purchased a new position in shares of American Tower Corp during the fourth quarter valued at about $124,000. FNY Partners Fund LP purchased a new position in shares of American Tower Corp during the fourth quarter valued at about $137,000. Finally, Financial Architects Inc increased its position in shares of American Tower Corp by 1.0% in the third quarter. Financial Architects Inc now owns 1,302 shares of the real estate investment trust’s stock valued at $148,000 after buying an additional 13 shares during the period. Hedge funds and other institutional investors own 93.07% of the company’s stock.
American Tower Corp Company Profile
American Tower Corporation is a holding company. The company owns, operates and develops wireless and broadcast communications real estate. Its primary business is leasing antenna space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data and data providers, government agencies and municipalities.
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