In yesterday’s Wall Street session, American Tower Corporation (NYSE:AMT) shares traded at $189.11, up 1.79% from the previous session.
As of this writing, 20 analysts cover American Tower Corporation (NYSE:AMT). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $271.00 and a low of $213.00, we find $231.50. Given the previous closing price of $185.79, this indicates a potential upside of 24.6 percent. AMT stock price is now -1.06% away from the 50-day moving average and -7.30% away from the 200-day moving average. The market capitalization of the company currently stands at $89.44B.
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There are 3 analysts who have given it a hold rating, whereas 13 have given it a buy rating. Brokers who have rated the stock have averaged $235.81 as their price target over the next twelve months.
With the price target of $230, BMO Capital Markets recently initiated with Outperform rating for American Tower Corporation (NYSE: AMT).
In other news, DOLAN RAYMOND P, Director sold 10,025 shares of the company’s stock on Feb 27. The stock was sold for $1,954,875 at an average price of $195.00. Upon completion of the transaction, the Director now directly owns 17,473 shares in the company, valued at $3.3 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 06, Director THOMPSON SAMME L sold 1,739 shares of the business’s stock. A total of $380,128 was realized by selling the stock at an average price of $218.59. This leaves the insider owning 22,099 shares of the company worth $4.18 million. Insiders disposed of 111,939 shares of company stock worth roughly $21.17 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 OFI INVEST ASSET MANAGEMENT during the first quarter worth $7,031,239,000. RESOLUTION CAPITAL LTD invested $108,054,000 in shares of AMT during the first quarter. In the first quarter, TWO SIGMA INVESTMENTS, LP acquired a new stake in American Tower Corporation valued at approximately $76,780,000. TWO SIGMA ADVISERS, LP acquired a new stake in AMT for approximately $40,659,000. SUMMIT WEALTH GROUP, LLC purchased a new stake in AMT valued at around $24,036,000 in the second quarter. In total, there are 2,282 active investors with 93.20% ownership of the company’s stock.
Wednesday morning saw American Tower Corporation (NYSE: AMT) opened at $189.33. 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 7.13, a current ratio of 0.50, and a quick ratio of 0.50. According to the stock market information, the enterprise value for the company is $133.24B, which is based on a 62.97 price-to-earnings ratio, a 6.12 price-to-earnings-growth ratio, and a beta of 0.57. The fifty day moving average price for AMT is $190.97 and a two-hundred day moving average price translates $203.89 for the stock.
The latest earnings results from American Tower Corporation (NYSE: AMT) was released for Mar, 2023. According to the REIT – Specialty Company, earnings per share came in at $0.72, missing analysts’ expectations of $1.09 by -0.37. This compares to $1.56 EPS in the same period last year. The net profit margin was 12.80% and return on equity was 23.00% for AMT. The company reported revenue of $2.77 billion for the quarter, compared to $2.66 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 4.02 percent. For the current quarter, analysts expect AMT to generate $2.73B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/10/2023. Investors who held shares on 06/16/2023 were paid a $1.57 dividend. On an annualized basis, this represents a $6.28 dividend and a 3.32% percent yield. There was an ex-dividend date of 06/15/2023 for this dividend. In terms of dividend payout ratio, AMT is presently at 194.40%.
American Tower Corporation(AMT) Company Profile
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 nearly 226,000 communications sites and a highly interconnected footprint of U.S. data center facilities.
