Wall Street analysts expect that American Tower Co. (NYSE:AMT) will report earnings per share of $1.64 for the current quarter, Zacks reports. Six analysts have provided estimates for American Tower’s earnings. The lowest EPS estimate is $0.84 and the highest is $1.89. American Tower posted earnings of $1.58 per share in the same quarter last year, which indicates a positive year over year growth rate of 3.8%. The business is expected to issue its next earnings report before the market opens on Tuesday, May 1st.
According to Zacks, analysts expect that American Tower will report full year earnings of $7.37 per share for the current year, with EPS estimates ranging from $7.20 to $7.72. For the next year, analysts forecast that the business will report earnings of $7.79 per share, with EPS estimates ranging from $3.39 to $8.60. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow American Tower.
American Tower (NYSE:AMT) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.04). American Tower had a net margin of 18.31% and a return on equity of 17.20%. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the prior year, the firm earned $1.52 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis.
Several equities analysts recently issued reports on AMT shares. Zacks Investment Research upgraded shares of American Tower from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a research note on Tuesday, January 2nd. Morgan Stanley decreased their target price on shares of American Tower from $161.00 to $157.00 and set an “overweight” rating for the company in a research note on Friday, March 16th. Oppenheimer boosted their target price on shares of American Tower from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, December 20th. KeyCorp set a $171.00 target price on shares of American Tower and gave the company a “buy” rating in a research note on Tuesday, February 27th. Finally, Citigroup decreased their target price on shares of American Tower from $169.00 to $162.00 and set a “buy” rating for the company in a research note on Monday, March 5th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. American Tower presently has an average rating of “Buy” and an average price target of $160.38.
In other news, EVP William H. Hess sold 28,291 shares of the company’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $145.28, for a total transaction of $4,110,116.48. Following the completion of the sale, the executive vice president now owns 92,721 shares of the company’s stock, valued at $13,470,506.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Samme L. Thompson sold 3,500 shares of the company’s stock in a transaction on Tuesday, March 20th. The stock was sold at an average price of $146.36, for a total transaction of $512,260.00. Following the sale, the director now directly owns 22,125 shares of the company’s stock, valued at approximately $3,238,215. The disclosure for this sale can be found here. Insiders have sold 32,636 shares of company stock valued at $4,746,448 over the last 90 days. 0.86% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in AMT. Atlantic Trust Group LLC grew its holdings in shares of American Tower by 89.8% during the third quarter. Atlantic Trust Group LLC now owns 1,896,026 shares of the real estate investment trust’s stock worth $259,148,000 after buying an additional 897,138 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of American Tower by 24.4% during the fourth quarter. Renaissance Technologies LLC now owns 2,703,900 shares of the real estate investment trust’s stock worth $385,765,000 after buying an additional 530,200 shares in the last quarter. Brookfield Asset Management Inc. grew its holdings in shares of American Tower by 18.1% during the fourth quarter. Brookfield Asset Management Inc. now owns 2,810,143 shares of the real estate investment trust’s stock worth $400,923,000 after buying an additional 430,500 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of American Tower during the fourth quarter worth $60,810,000. Finally, Rivulet Capital LLC purchased a new stake in shares of American Tower during the fourth quarter worth $45,241,000. 89.98% of the stock is owned by institutional investors and hedge funds.
AMT opened at $141.02 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 2.85. American Tower has a 1 year low of $122.73 and a 1 year high of $155.28. The firm has a market capitalization of $61,066.68, a P/E ratio of 21.05, a PEG ratio of 1.56 and a beta of 0.78.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Wednesday, April 11th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, April 10th. This is a boost from American Tower’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a yield of 2.13%. American Tower’s dividend payout ratio is currently 47.02%.
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About American Tower
American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 150,000 communications sites. For more information about American Tower, please visit the ?Earnings Materials? and ?Company & Industry Resources? sections of our investor relations website at www.americantower.com.
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