Stocks of American Tower Corporation (NYSE:AMT) traded higher last session on Wall Street, up 1.68% to $227.14.
According to the data, American Tower Corporation (NYSE:AMT) has 21 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $280.00 and a low of $224.00, we find $245.00. Given the previous closing price of $223.39, this indicates a potential upside of 9.67 percent. AMT stock price is now 4.28% away from the 50-day moving average and -3.73% away from the 200-day moving average. The market capitalization of the company currently stands at $105.87B.
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A total of 5 analysts have issued a hold rating and 13 have given it a buy rating. Brokers who have rated the stock have averaged $249.75 as their price target over the next twelve months.
On January 12, 2023, Deutsche Bank Upgraded its previous ‘Hold’ rating to ‘Buy’ on the stock keeping its target price maintained at $254, while ‘Goldman’ rates the stock as ‘Buy’.
In other news, DOLAN RAYMOND P, Director sold 1,619 shares of the company’s stock on Jan 17. The stock was sold for $378,716 at an average price of $233.92. Upon completion of the transaction, the Director now directly owns 17,473 shares in the company, valued at $3.97 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 17, EVP, CFO & Treasurer Smith Rodney M sold 1,574 shares of the business’s stock. A total of $368,190 was realized by selling the stock at an average price of $233.92. This leaves the insider owning 47,071 shares of the company worth $10.69 million. Insiders disposed of 119,980 shares of company stock worth roughly $27.25 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in AMT stock. A new stake in American Tower Corporation shares was purchased by GREAT WEST LIFE ASSURANCE CO /CAN/ during the first quarter worth $142,510,000. RANGER GLOBAL REAL ESTATE ADVISORS, LLC invested $133,363,000 in shares of AMT during the first quarter. In the first quarter, QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in American Tower Corporation valued at approximately $80,012,000. HRT FINANCIAL LP acquired a new stake in AMT for approximately $33,461,000. AMALGAMATED FINANCIAL CORP. purchased a new stake in AMT valued at around $27,347,000 in the second quarter. In total, there are 2,307 active investors with 93.20% ownership of the company’s stock.
Wednesday’s opening bell rang with an opening price of $221.89 for American Tower Corporation (NYSE: AMT). During the past 12 months, American Tower Corporation has had a low of $178.17 and a high of $282.47. As of last week, the company has a debt-to-equity ratio of 6.10, a current ratio of 0.60, and a quick ratio of 0.60. The fifty day moving average price for AMT is $217.82 and a two-hundred day moving average price translates $235.95 for the stock.
The latest earnings results from American Tower Corporation (NYSE: AMT) was released for Sep, 2022. According to the REIT – Specialty Company, earnings per share came in at $1.8, beating analysts’ expectations of $1.13 by 0.67. This compares to $1.58 EPS in the same period last year. The net profit margin was 27.80% and return on equity was 49.00% for AMT. The company reported revenue of $2.67 billion for the quarter, compared to $2.45 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 8.85 percent. For the current quarter, analysts expect AMT to generate $2.64B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 02/02/2023. Investors who held shares on 12/28/2022 were paid a $1.56 dividend. On an annualized basis, this represents a $6.24 dividend and a 2.75% percent yield. There was an ex-dividend date of 12/27/2022 for this dividend. In terms of dividend payout ratio, AMT is presently at 87.50%.
American Tower Corporation(AMT) Company Profile
American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.
