American Tower (NYSE:AMT) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of American Tower (NYSE:AMT) in a research report released on Monday, MarketBeat reports. The brokerage issued a buy rating and a $230.00 price objective on the real estate investment trust’s stock.

A number of other brokerages have also weighed in on AMT. Barclays cut their price target on shares of American Tower from $234.00 to $223.00 and set an overweight rating on the stock in a research note on Thursday, May 30th. Raymond James upgraded shares of American Tower from an outperform rating to a strong-buy rating and lifted their price objective for the company from $226.00 to $248.00 in a report on Wednesday, May 1st. Scotiabank lowered their price objective on shares of American Tower from $243.00 to $223.00 and set a sector outperform rating on the stock in a report on Wednesday, May 1st. Mizuho started coverage on shares of American Tower in a report on Monday, April 8th. They issued a neutral rating and a $205.00 price objective on the stock. Finally, Morgan Stanley lifted their price objective on shares of American Tower from $183.00 to $196.00 and gave the company an equal weight rating in a report on Monday, April 15th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, American Tower presently has a consensus rating of Moderate Buy and a consensus target price of $221.67.

American Tower Stock Down 0.2 %

American Tower stock opened at $194.05 on Monday. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.85. American Tower has a fifty-two week low of $154.58 and a fifty-two week high of $219.10. The company’s 50 day simple moving average is $188.22 and its 200 day simple moving average is $194.95. The firm has a market capitalization of $90.62 billion, a price-to-earnings ratio of 43.90, a PEG ratio of 1.39 and a beta of 0.81.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a net margin of 18.42% and a return on equity of 18.45%. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same period in the previous year, the firm posted $2.54 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that American Tower will post 10.03 EPS for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be issued a dividend of $1.62 per share. The ex-dividend date is Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a yield of 3.34%. American Tower’s payout ratio is 146.61%.

Insiders Place Their Bets

In other American Tower news, EVP Sanjay Goel sold 3,504 shares of American Tower stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the transaction, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other American Tower news, Director Robert D. Hormats sold 700 shares of American Tower stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the completion of the transaction, the director now directly owns 7,332 shares of the company’s stock, valued at $1,345,422. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Sanjay Goel sold 3,504 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the sale, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On American Tower

Institutional investors have recently modified their holdings of the business. Northwest Investment Counselors LLC bought a new stake in shares of American Tower in the first quarter valued at about $25,000. Gold Investment Management Ltd. bought a new stake in shares of American Tower in the fourth quarter valued at about $28,000. Thompson Investment Management Inc. bought a new stake in shares of American Tower in the fourth quarter valued at about $29,000. Private Wealth Management Group LLC bought a new stake in shares of American Tower in the fourth quarter valued at about $31,000. Finally, SOA Wealth Advisors LLC. bought a new stake in shares of American Tower in the first quarter valued at about $30,000. Institutional investors own 92.69% of the company’s stock.

American Tower 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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.