A number of firms have modified their ratings and price targets on shares of American Tower Corporation (REIT) (NYSE: AMT) recently:

  • 8/3/2017 – American Tower Corporation (REIT) was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $152.00 price target on the stock. According to Zacks, “American Tower posted impressive financial results in the second quarter of 2017. Over the past three months, share price grew 8.31%, beating the industry's 3.32% gain. American Tower continues to benefit from increased investment of wireless carriers in 4G LTE and 5G networks. The company’s tower buyouts in emerging markets and long-term tower leases with major wireless carriers have driven its top line and lend it a competitive edge over rivals. American Tower’s Indian, EMEA and Latin American operations account for almost 50% of its organic core revenue growth. However, American Tower has a substantially leveraged balance sheet. High customer concentration is likely to affect the company’s top line. Expansion in the global market increases the company’s exposure to foreign currency exchange rate risks. Stiff competition, integration risks and rising operating expenses are other headwinds.”
  • 8/3/2017 – American Tower Corporation (REIT) had its price target raised by analysts at Argus from $140.00 to $150.00. They now have a “buy” rating on the stock.
  • 8/2/2017 – American Tower Corporation (REIT) was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “American Tower posted impressive financial results in the second quarter of 2017. Over the past three months, share price grew 7.24%, beating the industry's 3.09% gain. American Tower continues to benefit from increased investment of wireless carriers in 4G LTE and 5G networks. The company’s tower buyouts in emerging markets and long-term tower leases with major wireless carriers have driven its top line and lend it a competitive edge over rivals. American Tower’s Indian, EMEA and Latin American operations account for almost 50% of its organic core revenue growth. However, American Tower has a substantially leveraged balance sheet. High customer concentration is likely to affect the company’s top line. Expansion in the global market increases the company’s exposure to foreign currency exchange rate risks. Stiff competition, integration risks and rising operating expenses are other headwinds.”
  • 7/31/2017 – American Tower Corporation (REIT) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/27/2017 – American Tower Corporation (REIT) was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. They now have a $153.00 price target on the stock. According to Zacks, “Over the past three months, share price of American Tower grew 11.61%, beating the industry's 0.12% gain. Further, American Tower continues to benefit from increased investment of wireless carriers in 4G LTE and 5G networks. We further believe that American Tower’s tower buyouts in emerging markets and long-term tower leases with major wireless carriers have driven its top line and lend it a competitive edge over rivals. American Tower’s Indian, EMEA and Latin American operations account for almost 50% of its organic core revenue growth. However, American Tower has a substantially leveraged balance sheet. High customer concentration is likely to affect the company’s top line. Expansion in the global market increases the company’s exposure to foreign currency exchange rate risks. Stiff competition, integration risks and rising operating expenses are other headwinds.”
  • 7/19/2017 – American Tower Corporation (REIT) had its “buy” rating reaffirmed by analysts at Cowen and Company. They now have a $155.00 price target on the stock.
  • 7/19/2017 – American Tower Corporation (REIT) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 7/14/2017 – American Tower Corporation (REIT) had its price target raised by analysts at Deutsche Bank AG from $145.00 to $157.00. They now have a “buy” rating on the stock.
  • 7/6/2017 – American Tower Corporation (REIT) had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $150.00 price target on the stock.
  • 7/5/2017 – American Tower Corporation (REIT) was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “American Tower has a substantially leveraged balance sheet. High customer concentration is likely to affect the company’s top line. Expansion in the global market increases the company’s exposure to foreign currency exchange rate risks. Stiff competition, integration risks and rising operating expenses are other headwinds. Over the past three months, the stock price grew 7.76%, beating the Zacks Reit- Equity Trust Other industry's 2.73% gain. Further, American Tower continues to benefit from increased investment of wireless carriers in 4G LTE and 5G networks. We further believe that American Tower’s tower buyouts in emerging markets and long-term tower leases with major wireless carriers have driven its top line and lend it a competitive edge over rivals. American Tower’s Indian, EMEA and Latin American operations account for almost 50% of its organic core revenue growth.”
  • 7/1/2017 – American Tower Corporation (REIT) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 6/27/2017 – American Tower Corporation (REIT) was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Over the past three months, share price of American Tower inched up 10.37%, beating the Zacks classified Reit- Equity Trust Other industry's 5.63% gain. Further, American Tower continues to benefit from increased investment of wireless carriers in 5G networks. The company’s investments in Asia are paying off. We further believe that American Tower’s tower buyouts in emerging markets have helped drive its top line and lend it a competitive edge over rivals. American Tower’s Indian, EMEA and Latin American operations account for almost 50% of its organic core revenue growth. The company generates most of its revenues from long-term (typically 5-10 year) tower leases with major wireless carriers. However, high customer concentration, foreign currency exchange rate risks, stiff competition, integration risks, rising operating expenses and a highly leveraged balanced sheet are other risks.”
  • 6/20/2017 – American Tower Corporation (REIT) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 6/13/2017 – American Tower Corporation (REIT) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 6/12/2017 – American Tower Corporation (REIT) was downgraded by analysts at Citigroup Inc. to an “outperform” rating. They now have a $147.00 price target on the stock.
  • 6/12/2017 – American Tower Corporation (REIT) had its “outperform” rating reaffirmed by analysts at Raymond James Financial, Inc..

American Tower Corporation (AMT) traded down 0.74% during trading on Thursday, reaching $136.83. The company’s stock had a trading volume of 1,032,688 shares. The stock has a 50-day moving average price of $134.81 and a 200 day moving average price of $123.63. The company has a market cap of $58.72 billion, a PE ratio of 54.73 and a beta of 0.71. American Tower Corporation has a 52-week low of $99.72 and a 52-week high of $139.50.

American Tower Corporation (REIT) (NYSE:AMT) last posted its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by $0.75. American Tower Corporation (REIT) had a return on equity of 16.70% and a net margin of 18.58%. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the company posted $1.38 earnings per share. American Tower Corporation (REIT)’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, analysts expect that American Tower Corporation will post $3.02 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, June 19th were issued a $0.64 dividend. This is a boost from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Thursday, June 15th. American Tower Corporation (REIT)’s dividend payout ratio is presently 102.81%.

In related news, Director David E. Sharbutt sold 3,653 shares of the stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $128.61, for a total transaction of $469,812.33. Following the completion of the sale, the director now directly owns 10,098 shares in the company, valued at approximately $1,298,703.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven C. Marshall sold 20,548 shares of the stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $134.92, for a total value of $2,772,336.16. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by corporate insiders.

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.

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