American Tower Corporation (REIT) (NYSE:AMT) had its price objective raised by UBS AG from $150.00 to $163.00 in a report issued on Monday morning, 99wallstreet.com reports. The firm currently has a buy rating on the real estate investment trust’s stock.

Other research analysts also recently issued research reports about the company. BidaskClub upgraded American Tower Corporation (REIT) from a hold rating to a buy rating in a report on Wednesday, July 19th. Cowen and Company reiterated a buy rating and set a $155.00 target price on shares of American Tower Corporation (REIT) in a report on Wednesday, July 19th. Deutsche Bank AG upped their target price on American Tower Corporation (REIT) from $145.00 to $157.00 and gave the stock a buy rating in a report on Friday, July 14th. Stifel Nicolaus reiterated a buy rating and set a $150.00 target price on shares of American Tower Corporation (REIT) in a report on Thursday, July 6th. Finally, Zacks Investment Research upgraded American Tower Corporation (REIT) from a hold rating to a buy rating and set a $152.00 target price on the stock in a report on Thursday, August 3rd. Thirteen research analysts have rated the stock with a buy rating, The company currently has an average rating of Buy and a consensus target price of $148.58.

American Tower Corporation (NYSE AMT) opened at 142.87 on Monday. The company has a market cap of $61.32 billion, a price-to-earnings ratio of 57.15 and a beta of 0.70. American Tower Corporation has a one year low of $99.72 and a one year high of $148.71. The firm has a 50-day moving average price of $141.56 and a 200 day moving average price of $130.15.

American Tower Corporation (REIT) (NYSE:AMT) last posted its earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share 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 for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter last year, the company posted $1.38 EPS. The firm’s revenue was up 15.3% on a year-over-year basis. Equities analysts expect that American Tower Corporation will post $3.02 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Friday, September 29th will be paid a $0.66 dividend. The ex-dividend date is Thursday, September 28th. This represents a $2.64 annualized dividend and a dividend yield of 1.85%. This is an increase from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. American Tower Corporation (REIT)’s dividend payout ratio is presently 102.81%.

In related news, EVP Amit Sharma sold 20,747 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $139.67, for a total value of $2,897,733.49. Following the transaction, the executive vice president now directly owns 101,605 shares of the company’s stock, valued at approximately $14,191,170.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Steven C. Marshall sold 20,548 shares of the company’s stock in a transaction that occurred on 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. Insiders sold a total of 80,295 shares of company stock worth $11,347,780 over the last ninety days. 0.86% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. lifted its position in American Tower Corporation (REIT) by 33.0% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 81,470 shares of the real estate investment trust’s stock valued at $10,780,000 after acquiring an additional 20,222 shares in the last quarter. Acadian Asset Management LLC lifted its position in American Tower Corporation (REIT) by 296.4% in the 1st quarter. Acadian Asset Management LLC now owns 4,761 shares of the real estate investment trust’s stock valued at $579,000 after acquiring an additional 3,560 shares in the last quarter. Telos Capital Management Inc. lifted its position in American Tower Corporation (REIT) by 17.0% in the 1st quarter. Telos Capital Management Inc. now owns 13,033 shares of the real estate investment trust’s stock valued at $1,584,000 after acquiring an additional 1,897 shares in the last quarter. Wellington Management Group LLP lifted its position in American Tower Corporation (REIT) by 8.4% in the 1st quarter. Wellington Management Group LLP now owns 21,788,278 shares of the real estate investment trust’s stock valued at $2,648,146,000 after acquiring an additional 1,679,615 shares in the last quarter. Finally, State of Tennessee Treasury Department lifted its position in American Tower Corporation (REIT) by 9.7% in the 2nd 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 acquiring an additional 30,885 shares in the last quarter. 92.09% of the stock is currently owned by institutional investors and hedge funds.

About American Tower Corporation (REIT)

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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