Brokerages Set American Tower Corporation (REIT) (AMT) Target Price at $155.55

American Tower Corporation (REIT) (NYSE:AMT) has earned an average rating of “Buy” from the eighteen ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $156.92.

A number of equities analysts recently issued reports on AMT shares. Cowen and Company reissued a “buy” rating and issued a $155.00 price objective on shares of American Tower Corporation (REIT) in a report on Wednesday, July 19th. BidaskClub raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Zacks Investment Research raised shares of American Tower Corporation (REIT) from a “sell” rating to a “hold” rating and set a $153.00 price objective on the stock in a report on Thursday, July 27th. Argus raised their price objective on shares of American Tower Corporation (REIT) from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Finally, Citigroup Inc. raised their price objective on shares of American Tower Corporation (REIT) from $142.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, August 28th.

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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, November 13th. The shares were sold at an average price of $151.20, for a total transaction of $5,140,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 147,747 shares of company stock worth $21,195,343. 0.86% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. CIBC World Markets Inc. raised its position in shares of American Tower Corporation (REIT) by 100.6% during the second quarter. CIBC World Markets Inc. now owns 21,261 shares of the real estate investment trust’s stock valued at $2,813,000 after buying an additional 10,663 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in shares of American Tower Corporation (REIT) by 33.0% during the second quarter. Oppenheimer & Co. Inc. now owns 81,470 shares of the real estate investment trust’s stock valued at $10,780,000 after buying an additional 20,222 shares during the last quarter. State of Tennessee Treasury Department raised its position in shares of American Tower Corporation (REIT) by 9.7% during the second quarter. State of Tennessee Treasury Department now owns 349,736 shares of the real estate investment trust’s stock valued at $46,277,000 after buying an additional 30,885 shares during the last quarter. BB&T Corp raised its position in shares of American Tower Corporation (REIT) by 3.1% during the third quarter. BB&T Corp now owns 37,161 shares of the real estate investment trust’s stock valued at $5,079,000 after buying an additional 1,104 shares during the last quarter. Finally, BTC Capital Management Inc. raised its position in shares of American Tower Corporation (REIT) by 1.3% during the second quarter. BTC Capital Management Inc. now owns 34,728 shares of the real estate investment trust’s stock valued at $4,592,000 after buying an additional 453 shares during the last quarter. Hedge funds and other institutional investors own 92.04% of the company’s stock.

Shares of American Tower Corporation (NYSE:AMT) traded down $0.55 during midday trading on Friday, hitting $149.49. 1,854,700 shares of the stock were exchanged, compared to its average volume of 1,980,653. 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 stock has a market cap of $64,150.00, a P/E ratio of 23.23, a PEG ratio of 1.77 and a beta of 0.74. American Tower Corporation has a 12-month low of $99.72 and a 12-month high of $155.28.

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 was Thursday, September 28th. This represents a $2.64 dividend on an annualized basis and a yield of 1.77%. American Tower Corporation (REIT)’s dividend payout ratio (DPR) is presently 100.38%.

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.

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

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