Wall Street brokerages predict that American Tower Corp (NYSE:AMT) will post $1.93 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for American Tower’s earnings. The lowest sales estimate is $1.91 billion and the highest is $1.96 billion. American Tower posted sales of $2.13 billion in the same quarter last year, which would indicate a negative year over year growth rate of 9.4%. The company is scheduled to issue its next quarterly earnings report on Wednesday, February 26th.

According to Zacks, analysts expect that American Tower will report full-year sales of $7.59 billion for the current financial year, with estimates ranging from $7.57 billion to $7.61 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $8.10 billion, with estimates ranging from $7.92 billion to $8.25 billion. Zacks’ sales averages are an average based on a survey of analysts that follow American Tower.

American Tower (NYSE:AMT) last released its earnings results on Thursday, October 31st. The real estate investment trust reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.17. American Tower had a net margin of 20.58% and a return on equity of 27.12%. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the firm earned $1.85 EPS. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year.

AMT has been the topic of several recent research reports. Morgan Stanley reaffirmed a “hold” rating and set a $218.00 target price (up previously from $216.00) on shares of American Tower in a report on Friday, November 22nd. Zacks Investment Research raised shares of American Tower from a “hold” rating to a “buy” rating and set a $237.00 target price on the stock in a report on Tuesday, August 20th. ValuEngine lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Cowen increased their target price on shares of American Tower from $238.00 to $260.00 and gave the company an “in-line” rating in a report on Friday, November 1st. Finally, KeyCorp set a $242.00 target price on shares of American Tower and gave the company a “buy” rating in a report on Friday, November 1st. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. American Tower has a consensus rating of “Hold” and a consensus price target of $219.92.

Shares of AMT stock traded up $2.83 on Thursday, hitting $212.52. 1,988,571 shares of the company’s stock traded hands, compared to its average volume of 1,284,237. The company has a debt-to-equity ratio of 4.40, a quick ratio of 0.53 and a current ratio of 0.53. American Tower has a one year low of $150.66 and a one year high of $242.00. The company’s fifty day simple moving average is $212.50 and its 200 day simple moving average is $216.13. The stock has a market capitalization of $92.88 billion, a price-to-earnings ratio of 26.60, a P/E/G ratio of 1.68 and a beta of 0.40.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Friday, December 27th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.90%. This is a positive change from American Tower’s previous quarterly dividend of $0.95. American Tower’s dividend payout ratio (DPR) is 47.56%.

In other American Tower news, SVP Robert Joseph Meyer, Jr. sold 1,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $206.78, for a total value of $206,780.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Edmund Disanto sold 34,949 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.00, for a total transaction of $7,898,474.00. Following the completion of the sale, the executive vice president now directly owns 212,292 shares in the company, valued at approximately $47,977,992. The disclosure for this sale can be found here. In the last three months, insiders sold 131,404 shares of company stock worth $29,380,550. Insiders own 0.75% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of American Tower by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 57,494,934 shares of the real estate investment trust’s stock valued at $11,754,838,000 after purchasing an additional 248,968 shares in the last quarter. BlackRock Inc. raised its holdings in American Tower by 4.0% in the 2nd quarter. BlackRock Inc. now owns 31,549,686 shares of the real estate investment trust’s stock valued at $6,450,332,000 after buying an additional 1,213,664 shares during the period. State Street Corp increased its stake in American Tower by 1.3% during the third quarter. State Street Corp now owns 18,612,680 shares of the real estate investment trust’s stock worth $4,133,390,000 after purchasing an additional 238,036 shares during the period. Northern Trust Corp increased its stake in American Tower by 1.5% during the second quarter. Northern Trust Corp now owns 6,772,952 shares of the real estate investment trust’s stock worth $1,384,730,000 after purchasing an additional 96,999 shares during the period. Finally, Invesco Ltd. increased its stake in American Tower by 8.3% during the second quarter. Invesco Ltd. now owns 4,140,203 shares of the real estate investment trust’s stock worth $846,465,000 after purchasing an additional 316,054 shares during the period. 91.73% of the stock is currently owned by institutional investors and hedge funds.

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 approximately 171,000 communications sites.

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Earnings History and Estimates for American Tower (NYSE:AMT)

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