American Tower Corporation (REIT) (AMT) Price Target Increased to $163.00 by Analysts at Jefferies Group LLC

American Tower Corporation (REIT) (NYSE:AMT) had its target price hoisted by Jefferies Group LLC from $144.00 to $163.00 in a research note released on Wednesday morning. The brokerage currently has a buy rating on the real estate investment trust’s stock.

Several other research analysts have also recently weighed in on AMT. Zacks Investment Research cut shares of American Tower Corporation (REIT) from a hold rating to a sell rating in a report on Wednesday, July 5th. Stifel Nicolaus restated a buy rating and set a $150.00 price target on shares of American Tower Corporation (REIT) in a report on Thursday, July 6th. Deutsche Bank AG boosted their price target on shares of American Tower Corporation (REIT) from $145.00 to $157.00 and gave the stock a buy rating in a report on Friday, July 14th. Cowen and Company restated a buy rating and set a $155.00 price target on shares of American Tower Corporation (REIT) in a report on Wednesday, July 19th. Finally, BidaskClub raised shares of American Tower Corporation (REIT) from a hold rating to a buy rating in a research report on Wednesday, July 19th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $153.69.

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The company also recently announced a quarterly dividend, which was paid on Tuesday, October 17th. Shareholders of record on Friday, September 29th were paid a dividend of $0.66 per share. This is a boost from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.64 dividend on an annualized basis and a yield of 1.84%. American Tower Corporation (REIT)’s dividend payout ratio (DPR) is presently 100.38%.

In other news, Director Pamela D. A. Reeve sold 5,000 shares of American Tower Corporation (REIT) stock in a transaction that occurred on 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 in the company, valued at $2,548,095.42. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of American Tower Corporation (REIT) stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $139.40, for a total transaction of $4,739,600.00. Following the sale, the chairman now owns 304,707 shares in the company, valued at approximately $42,476,155.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,747 shares of company stock worth $16,054,543. 0.86% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Alexandria Capital LLC grew its holdings in shares of American Tower Corporation (REIT) by 0.5% in the second quarter. Alexandria Capital LLC now owns 812 shares of the real estate investment trust’s stock valued at $107,000 after purchasing an additional 4 shares in the last quarter. Cornerstone Advisors Inc. grew its holdings in shares of American Tower Corporation (REIT) by 1.2% in the second quarter. Cornerstone Advisors Inc. now owns 1,235 shares of the real estate investment trust’s stock valued at $163,000 after purchasing an additional 15 shares in the last quarter. Baxter Bros Inc. grew its holdings in shares of American Tower Corporation (REIT) by 0.4% in the second quarter. Baxter Bros Inc. now owns 3,470 shares of the real estate investment trust’s stock valued at $459,000 after purchasing an additional 15 shares in the last quarter. Guardian Life Insurance Co. of America grew its holdings in shares of American Tower Corporation (REIT) by 1.2% in the first quarter. Guardian Life Insurance Co. of America now owns 1,650 shares of the real estate investment trust’s stock valued at $201,000 after purchasing an additional 19 shares in the last quarter. Finally, HL Financial Services LLC grew its holdings in shares of American Tower Corporation (REIT) by 0.5% in the second quarter. HL Financial Services LLC now owns 3,675 shares of the real estate investment trust’s stock valued at $486,000 after purchasing an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 92.05% 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.

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