American Tower Corporation (REIT) (AMT) Lifted to Buy at ValuEngine

ValuEngine upgraded shares of American Tower Corporation (REIT) (NYSE:AMT) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Other equities analysts have also recently issued research reports about the company. BidaskClub upgraded American Tower Corporation (REIT) from a hold rating to a buy rating in a report on Wednesday, July 19th. Cowen and Company restated a buy rating and set a $155.00 target price on shares of American Tower Corporation (REIT) in a report on Wednesday, July 19th. Deutsche Bank AG raised their price target on American Tower Corporation (REIT) from $145.00 to $157.00 and gave the stock a buy rating in a research report on Friday, July 14th. Jefferies Group LLC reaffirmed a buy rating and set a $144.00 price target on shares of American Tower Corporation (REIT) in a research report on Tuesday, September 12th. Finally, UBS AG raised their price target on American Tower Corporation (REIT) from $150.00 to $163.00 and gave the stock a buy rating in a research report on Monday, September 11th. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $155.85.

American Tower Corporation (AMT) opened at $150.54 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.61. American Tower Corporation has a 1-year low of $99.72 and a 1-year high of $155.28. The stock has a market capitalization of $64,559.98, a PE ratio of 23.30, a price-to-earnings-growth ratio of 1.77 and a beta of 0.74.

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The company also recently announced a quarterly dividend, which was paid on Tuesday, October 17th. Investors of record on Friday, September 29th were given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date was Thursday, September 28th. This is a positive change from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. American Tower Corporation (REIT)’s dividend payout ratio (DPR) is currently 100.38%.

In related news, EVP Amit Sharma sold 20,747 shares of American Tower Corporation (REIT) stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $139.67, for a total value of $2,897,733.49. Following the sale, the executive vice president now owns 101,605 shares of the company’s stock, valued at approximately $14,191,170.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $139.40, for a total value of $4,739,600.00. Following the transaction, the chairman now directly 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 three months, insiders sold 113,747 shares of company stock worth $16,054,543. 0.86% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of AMT. Janus Henderson Group PLC increased its position in shares of American Tower Corporation (REIT) by 1,886.3% during the 2nd quarter. Janus Henderson Group PLC now owns 7,468,416 shares of the real estate investment trust’s stock worth $988,214,000 after purchasing an additional 7,092,413 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of American Tower Corporation (REIT) by 823.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,606,119 shares of the real estate investment trust’s stock worth $212,525,000 after purchasing an additional 1,432,155 shares during the last quarter. Vanguard Group Inc. increased its position in shares of American Tower Corporation (REIT) by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 28,442,502 shares of the real estate investment trust’s stock worth $3,763,512,000 after purchasing an additional 881,020 shares during the last quarter. Prudential Financial Inc. increased its position in shares of American Tower Corporation (REIT) by 56.7% during the 2nd quarter. Prudential Financial Inc. now owns 1,963,407 shares of the real estate investment trust’s stock worth $259,798,000 after purchasing an additional 710,130 shares during the last quarter. Finally, Winslow Capital Management LLC increased its position in shares of American Tower Corporation (REIT) by 36.5% during the 2nd quarter. Winslow Capital Management LLC now owns 2,539,716 shares of the real estate investment trust’s stock worth $336,055,000 after purchasing an additional 679,096 shares during the last quarter. 92.04% of the stock is currently owned by hedge funds and other institutional investors.

About American Tower Corporation (REIT)

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for American Tower Corporation (REIT) (NYSE:AMT)

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