American Tower Corp (NYSE:AMT) – Investment analysts at Jefferies Group lowered 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 forecast of $1.54. Jefferies Group currently has a “Buy” rating and a $136.00 target price on the stock. Jefferies Group also issued estimates for American Tower Corp’s FY2018 earnings at $6.87 EPS.
Several other equities research analysts have also commented on the company. Zacks Investment Research lowered American Tower Corp from a “hold” rating to a “sell” rating in a research report on Friday, January 13th. Pacific Crest increased their price target on American Tower Corp to $132.00 in a report on Wednesday, March 22nd. Finally, Guggenheim upgraded American Tower Corp from a “neutral” rating to a “buy” rating and increased their price target for the stock from $117.00 to $135.00 in a report on Monday, April 10th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $128.26.
American Tower Corp (NYSE:AMT) traded down 0.17% during trading on Friday, reaching $124.09. The company had a trading volume of 1,029,424 shares. The firm has a market capitalization of $53.01 billion, a PE ratio of 62.67 and a beta of 0.61. American Tower Corp has a 12-month low of $99.72 and a 12-month high of $125.42. The firm’s 50 day moving average price is $118.93 and its 200 day moving average price is $110.58.
American Tower Corp (NYSE:AMT) last posted its quarterly earnings results on Monday, February 27th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by $0.11. The firm earned $1.54 billion during the quarter, compared to the consensus estimate of $1.54 billion. American Tower Corp had a net margin of 17.37% and a return on equity of 14.05%. American Tower Corp’s revenue was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.48 EPS.
A number of hedge funds have recently added to or reduced their stakes in the company. Capital Analysts LLC increased its stake in American Tower Corp by 14.7% in the fourth quarter. Capital Analysts LLC now owns 25,867 shares of the real estate investment trust’s stock worth $2,734,000 after buying an additional 3,314 shares in the last quarter. Sarasin & Partners LLP increased its stake in American Tower Corp by 1,571.3% in the third quarter. Sarasin & Partners LLP now owns 391,767 shares of the real estate investment trust’s stock worth $44,399,000 after buying an additional 368,326 shares in the last quarter. New York State Common Retirement Fund increased its stake in American Tower Corp by 6.5% in the third quarter. New York State Common Retirement Fund now owns 1,168,841 shares of the real estate investment trust’s stock worth $132,465,000 after buying an additional 71,341 shares in the last quarter. East Coast Asset Management LLC. increased its stake in American Tower Corp by 0.7% in the third quarter. East Coast Asset Management LLC. now owns 12,400 shares of the real estate investment trust’s stock worth $1,405,000 after buying an additional 90 shares in the last quarter. Finally, Ngam Advisors L.P. increased its stake in American Tower Corp by 0.6% in the third quarter. Ngam Advisors L.P. now owns 50,053 shares of the real estate investment trust’s stock worth $5,673,000 after buying an additional 319 shares in the last quarter. 93.07% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Edmund Disanto sold 15,000 shares of the stock in a transaction that occurred on Thursday, March 23rd. The stock was sold at an average price of $119.23, for a total transaction of $1,788,450.00. Following the completion of the sale, the executive vice president now directly owns 156,893 shares of the company’s stock, valued at $18,706,352.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William H. Hess sold 90,489 shares of the stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $120.96, for a total value of $10,945,549.44. Following the sale, the executive vice president now directly owns 126,987 shares of the company’s stock, valued at $15,360,347.52. The disclosure for this sale can be found here. Insiders have sold 190,249 shares of company stock valued at $22,541,591 over the last ninety days. 0.95% of the stock is currently owned by company insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Wednesday, April 12th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.00%. This is an increase from American Tower Corp’s previous quarterly dividend of $0.58. The ex-dividend date is Monday, April 10th. American Tower Corp’s dividend payout ratio (DPR) is presently 117.17%.
About American Tower Corp
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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