American Tower (NYSE:AMT – Get Rating) is set to issue its quarterly earnings data before the market opens on Thursday, February 23rd. Analysts expect the company to announce earnings of $2.15 per share for the quarter. Investors that wish to register for the company's conference call can do so using this link.
American Tower Trading Up 0.7 %
American Tower stock opened at $216.60 on Thursday. The stock has a market cap of $100.85 billion, a price-to-earnings ratio of 34.38, a price-to-earnings-growth ratio of 1.98 and a beta of 0.55. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 2.87. The business has a 50 day moving average price of $218.46 and a two-hundred day moving average price of $226.42. American Tower has a 12 month low of $178.17 and a 12 month high of $282.47.
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American Tower Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, February 2nd. Investors of record on Wednesday, December 28th were given a dividend of $1.56 per share. This represents a $6.24 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Tuesday, December 27th. This is an increase from American Tower's previous quarterly dividend of $1.47. American Tower's dividend payout ratio (DPR) is 99.05%.
Wall Street Analyst Weigh In
AMT has been the subject of several recent analyst reports. KeyCorp dropped their price objective on shares of American Tower from $264.00 to $252.00 and set an "overweight" rating for the company in a report on Friday, October 28th. Cowen cut their price objective on shares of American Tower to $279.00 in a research report on Tuesday, November 1st. Morgan Stanley lifted their target price on American Tower from $219.00 to $224.00 and gave the stock an "equal weight" rating in a research note on Monday, January 23rd. Raymond James increased their price target on American Tower from $219.00 to $233.00 and gave the stock a "market outperform" rating in a research report on Wednesday, November 23rd. Finally, Royal Bank of Canada reduced their price target on American Tower from $265.00 to $240.00 and set an "outperform" rating on the stock in a report on Tuesday, November 1st. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $266.00.
Insider Activity at American Tower
In other news, CFO Rodney M. Smith sold 2,035 shares of the stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $220.85, for a total transaction of $449,429.75. Following the sale, the chief financial officer now owns 48,645 shares of the company's stock, valued at $10,743,248.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other American Tower news, CFO Rodney M. Smith sold 2,035 shares of the stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $220.85, for a total value of $449,429.75. Following the sale, the chief financial officer now directly owns 48,645 shares of the company's stock, valued at approximately $10,743,248.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Raymond P. Dolan sold 1,619 shares of the business's stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $233.92, for a total value of $378,716.48. Following the completion of the sale, the director now directly owns 17,473 shares of the company's stock, valued at $4,087,284.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,587 shares of company stock worth $1,947,849. 0.24% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On American Tower
A number of large investors have recently made changes to their positions in AMT. Pinnacle Holdings LLC acquired a new stake in American Tower during the 1st quarter valued at $29,000. Eagle Bay Advisors LLC acquired a new stake in shares of American Tower during the 2nd quarter worth about $30,000. Lumature Wealth Partners LLC grew its holdings in shares of American Tower by 40.3% during the first quarter. Lumature Wealth Partners LLC now owns 174 shares of the real estate investment trust's stock worth $44,000 after buying an additional 50 shares in the last quarter. McIlrath & Eck LLC raised its position in shares of American Tower by 18.5% in the fourth quarter. McIlrath & Eck LLC now owns 333 shares of the real estate investment trust's stock valued at $71,000 after buying an additional 52 shares during the last quarter. Finally, ICA Group Wealth Management LLC purchased a new position in shares of American Tower during the fourth quarter valued at approximately $108,000. Hedge funds and other institutional investors own 89.65% of the company's stock.
About American Tower
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American Tower Corp. provides real estate investment services, and owns, operates, and develops multi-tenant real estate properties. It operates through the following segments: U.S. & Canada, Asia-Pacific, Europe, Africa Latin America, and Services. The Asia-Pacific segment refers to the operations in Australia and India.
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