American Tower Corp (NYSE:AMT) – Investment analysts at Jefferies Group dropped their Q3 2017 earnings estimates for American Tower Corp in a report released on Tuesday. Jefferies Group analyst M. Mccormack now expects that the brokerage will post earnings per share of $1.52 for the quarter, down from their previous forecast of $1.57. Jefferies Group also issued estimates for American Tower Corp’s Q4 2017 earnings at $1.54 EPS and FY2017 earnings at $6.11 EPS.
Other equities analysts also recently issued research reports about the stock. Pacific Crest boosted their price objective on shares of American Tower Corp to $132.00 in a research note on Wednesday. Zacks Investment Research raised shares of American Tower Corp from a “sell” rating to a “hold” rating in a research note on Wednesday, March 1st. Macquarie assumed coverage on shares of American Tower Corp in a research note on Tuesday, December 6th. They issued an “outperform” rating and a $125.00 price objective for the company. Finally, Guggenheim assumed coverage on shares of American Tower Corp in a research note on Thursday, December 15th. They issued a “neutral” rating for the company. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. American Tower Corp currently has a consensus rating of “Buy” and an average price target of $125.93.
American Tower Corp (NYSE:AMT) opened at 119.32 on Thursday. American Tower Corp has a 1-year low of $99.72 and a 1-year high of $119.76. The stock has a market capitalization of $50.97 billion, a P/E ratio of 60.26 and a beta of 0.61. The stock has a 50 day moving average price of $111.95 and a 200-day moving average price of $109.24.
American Tower Corp (NYSE:AMT) last released its quarterly earnings results on Monday, February 27th. The real estate investment trust reported $1.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.89. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.54 billion. American Tower Corp had a return on equity of 14.05% and a net margin of 17.37%. The company’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same period last year, the business posted $0.48 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Wednesday, April 12th will be given a dividend of $0.62 per share. The ex-dividend date is Monday, April 10th. This is an increase from American Tower Corp’s previous quarterly dividend of $0.58. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.08%. American Tower Corp’s dividend payout ratio is presently 117.17%.
In other news, Chairman James D. Taiclet, Jr. sold 40,000 shares of the company’s stock in a transaction on Tuesday, January 10th. The stock was sold at an average price of $104.13, for a total transaction of $4,165,200.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman James D. Taiclet, Jr. sold 69,760 shares of the company’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $114.62, for a total value of $7,995,891.20. Following the transaction, the chairman now directly owns 324,929 shares in the company, valued at $37,243,361.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 124,760 shares of company stock worth $13,949,541. Insiders own 0.95% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of American Tower Corp during the fourth quarter worth about $178,214,000. Janus Capital Management LLC increased its position in shares of American Tower Corp by 18.3% in the fourth quarter. Janus Capital Management LLC now owns 7,007,311 shares of the real estate investment trust’s stock worth $740,579,000 after buying an additional 1,084,942 shares during the last quarter. Matrix Capital Management Company LP acquired a new position in shares of American Tower Corp during the third quarter worth about $113,330,000. Asset Management One Co. Ltd. increased its position in shares of American Tower Corp by 811.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 716,118 shares of the real estate investment trust’s stock worth $75,717,000 after buying an additional 637,511 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its position in shares of American Tower Corp by 206.8% in the third quarter. 1832 Asset Management L.P. now owns 831,400 shares of the real estate investment trust’s stock worth $94,219,000 after buying an additional 560,400 shares during the last quarter. 93.07% of the stock is currently owned by institutional investors and hedge funds.
About American Tower Corp
American Tower Corporation is a holding company. The company owns, operates and develops wireless and broadcast communications real estate. Its primary business is leasing antenna space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data and data providers, government agencies and municipalities.
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