FY2017 Earnings Forecast for American Tower Corp (AMT) Issued By Oppenheimer

American Tower Corp (NYSE:AMT) – Equities research analysts at Oppenheimer dropped their FY2017 earnings per share (EPS) estimates for American Tower in a research note issued on Wednesday. Oppenheimer analyst T. Horan now anticipates that the real estate investment trust will post earnings of $6.57 per share for the year, down from their prior estimate of $6.58. Oppenheimer currently has a “Outperform” rating and a $160.00 target price on the stock. Oppenheimer also issued estimates for American Tower’s Q4 2017 earnings at $1.67 EPS, FY2018 earnings at $7.75 EPS and FY2019 earnings at $8.96 EPS.

Several other research analysts have also issued reports on the company. Royal Bank of Canada reaffirmed a “buy” rating and set a $153.00 target price on shares of American Tower in a research report on Friday, September 1st. Citigroup increased their price objective on American Tower from $142.00 to $167.00 and gave the company a “buy” rating in a report on Monday, August 28th. UBS Group increased their price objective on American Tower from $150.00 to $163.00 and gave the company a “buy” rating in a report on Monday, September 11th. BidaskClub raised American Tower from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Finally, Argus increased their price objective on American Tower to $170.00 and gave the company a “buy” rating in a report on Thursday, November 9th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. American Tower currently has an average rating of “Buy” and an average price target of $158.60.

Shares of American Tower (NYSE:AMT) opened at $140.66 on Friday. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market capitalization of $59,872.59, a price-to-earnings ratio of 53.48, a P/E/G ratio of 1.64 and a beta of 0.73. American Tower has a 12 month low of $102.51 and a 12 month high of $155.28.

A number of large investors have recently added to or reduced their stakes in the stock. Howe & Rusling Inc. lifted its holdings in shares of American Tower by 1,608.0% in the 3rd quarter. Howe & Rusling Inc. now owns 854 shares of the real estate investment trust’s stock valued at $117,000 after purchasing an additional 804 shares during the last quarter. Legacy Advisors LLC acquired a new position in American Tower in the 3rd quarter valued at about $132,000. Glassman Wealth Services increased its position in American Tower by 28.9% in the 2nd quarter. Glassman Wealth Services now owns 1,029 shares of the real estate investment trust’s stock valued at $136,000 after acquiring an additional 231 shares during the period. Fieldpoint Private Securities LLC increased its position in American Tower by 69.6% in the 3rd quarter. Fieldpoint Private Securities LLC now owns 1,060 shares of the real estate investment trust’s stock valued at $145,000 after acquiring an additional 435 shares during the period. Finally, Americafirst Capital Management LLC acquired a new position in American Tower in the 3rd quarter valued at about $173,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

In related news, Director David E. Sharbutt sold 1,584 shares of American Tower stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $144.44, for a total value of $228,792.96. Following the completion of the transaction, the director now directly owns 4,861 shares in the company, valued at $702,122.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Edmund Disanto sold 10,000 shares of American Tower stock in a transaction on Friday, September 29th. The shares were sold at an average price of $136.00, for a total value of $1,360,000.00. Following the completion of the transaction, the executive vice president now owns 151,928 shares of the company’s stock, valued at $20,662,208. The disclosure for this sale can be found here. In the last three months, insiders have sold 114,251 shares of company stock valued at $16,409,934. 0.86% of the stock is owned by insiders.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Thursday, December 28th will be paid a dividend of $0.70 per share. This is a boost from American Tower’s previous quarterly dividend of $0.66. The ex-dividend date is Wednesday, December 27th. This represents a $2.80 annualized dividend and a yield of 1.99%. American Tower’s dividend payout ratio (DPR) is 100.38%.

American Tower declared that its Board of Directors has initiated a stock buyback plan on Thursday, December 7th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

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American Tower 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.

Earnings History and Estimates for American Tower (NYSE:AMT)

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