American Tower Corp (NYSE:AMT) – Investment analysts at Jefferies Group dropped their Q3 2017 EPS estimates for American Tower Corp in a research note issued to investors on Tuesday, Zacks Investment Research reports. Jefferies Group analyst M. Mccormack now expects that the real estate investment trust will post earnings per share of $1.52 for the quarter, down from their previous estimate of $1.57. 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 Q4 2017 earnings at $1.54 EPS and FY2017 earnings at $6.11 EPS.
A number of other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of American Tower Corp from a “hold” rating to a “sell” rating in a research note on Friday, January 13th. Pacific Crest upped their price objective on shares of American Tower Corp to $132.00 in a research note on Wednesday, March 22nd. Finally, Guggenheim raised shares of American Tower Corp from a “neutral” rating to a “buy” rating and upped their price objective for the company from $117.00 to $135.00 in a research note on Monday, April 10th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. American Tower Corp presently has a consensus rating of “Buy” and a consensus price target of $128.26.
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Shares of American Tower Corp (NYSE:AMT) traded up 0.10% during midday trading on Thursday, hitting $124.43. 1,623,033 shares of the stock were exchanged. The firm has a 50-day moving average price of $118.93 and a 200 day moving average price of $110.58. American Tower Corp has a 12-month low of $99.72 and a 12-month high of $125.42. The firm has a market cap of $53.16 billion, a PE ratio of 62.84 and a beta of 0.61.
American Tower Corp (NYSE:AMT) last posted its quarterly earnings data on Monday, February 27th. The real estate investment trust reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.11. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.54 billion. American Tower Corp had a return on equity of 14.05% and a net margin of 17.37%. The business’s revenue was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.48 earnings per share.
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 issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, April 10th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.99%. This is a boost from American Tower Corp’s previous quarterly dividend of $0.58. American Tower Corp’s payout ratio is presently 117.17%.
In other American Tower Corp news, Chairman James D. Taiclet, Jr. sold 69,760 shares of the company’s stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $114.62, for a total value of $7,995,891.20. Following the completion of the transaction, the chairman now owns 324,929 shares in the company, valued at approximately $37,243,361.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP William H. Hess sold 90,489 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $120.96, for a total value of $10,945,549.44. Following the completion of the transaction, 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. Insiders have sold a total of 190,249 shares of company stock valued at $22,541,591 in the last quarter. Company insiders own 0.95% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in AMT. Capital Analysts LLC boosted its position 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 boosted its position 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 boosted its position 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. boosted its position 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. boosted its position 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. 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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