American Tower Corp (NYSE:AMT) – Equities researchers at KeyCorp issued their Q1 2020 earnings per share estimates for American Tower in a note issued to investors on Wednesday, July 31st, according to Zacks Investment Research. KeyCorp analyst B. Nispel expects that the real estate investment trust will post earnings per share of $2.14 for the quarter. KeyCorp has a “Overweight” rating and a $253.00 price objective on the stock. KeyCorp also issued estimates for American Tower’s Q2 2020 earnings at $2.23 EPS, Q3 2020 earnings at $2.30 EPS and Q4 2020 earnings at $2.32 EPS.
Several other equities research analysts also recently weighed in on the stock. UBS Group downgraded shares of American Tower from a “buy” rating to a “neutral” rating and upped their target price for the stock from $195.00 to $222.00 in a research note on Friday, June 7th. Morgan Stanley upped their target price on shares of American Tower from $185.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Monday, May 20th. 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 research note on Tuesday, August 20th. SunTrust Banks upped their target price on shares of American Tower to $230.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada upped their target price on shares of American Tower from $195.00 to $203.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $202.27.
Shares of American Tower stocktraded up $0.35 on Monday, reaching $230.14. The company had a trading volume of 1,122,591 shares, compared to its average volume of 1,751,848. The firm’s 50 day moving average price is $215.84 and its two-hundred day moving average price is $200.65. The firm has a market cap of $102.36 billion, a PE ratio of 28.80, a PEG ratio of 1.84 and a beta of 0.50. American Tower has a 52-week low of $140.40 and a 52-week high of $231.77. The company has a debt-to-equity ratio of 4.13, a quick ratio of 0.49 and a current ratio of 0.49.
American Tower (NYSE:AMT) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.91). The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.83 billion. American Tower had a net margin of 19.30% and a return on equity of 24.75%. American Tower’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $1.74 earnings per share.
Several institutional investors have recently modified their holdings of AMT. Atria Investments LLC purchased a new position in American Tower in the second quarter valued at approximately $1,300,000. Keudell Morrison Wealth Management bought a new position in American Tower during the second quarter worth about $1,987,000. Treasurer of the State of North Carolina boosted its holdings in American Tower by 0.3% during the second quarter. Treasurer of the State of North Carolina now owns 286,481 shares of the real estate investment trust’s stock worth $58,571,000 after buying an additional 985 shares during the last quarter. BlackRock Inc. boosted its holdings in American Tower by 4.0% during the second quarter. BlackRock Inc. now owns 31,549,686 shares of the real estate investment trust’s stock worth $6,450,332,000 after buying an additional 1,213,664 shares during the last quarter. Finally, Natixis boosted its holdings in American Tower by 24.5% during the second quarter. Natixis now owns 5,844 shares of the real estate investment trust’s stock worth $1,195,000 after buying an additional 1,151 shares during the last quarter. Institutional investors and hedge funds own 93.22% of the company’s stock.
In other American Tower news, Director Craig Macnab sold 5,953 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $225.46, for a total transaction of $1,342,163.38. Following the completion of the transaction, the director now owns 14,341 shares in the company, valued at approximately $3,233,321.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James D. Taiclet, Jr. sold 57,438 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $201.40, for a total transaction of $11,568,013.20. Following the transaction, the chief executive officer now owns 255,414 shares of the company’s stock, valued at approximately $51,440,379.60. The disclosure for this sale can be found here. Insiders have sold a total of 196,973 shares of company stock valued at $40,927,162 in the last quarter. 0.75% of the stock is currently owned by company insiders.
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.