American Tower (NYSE:AMT) Price Target Raised to $221.00 at Mizuho

American Tower (NYSE:AMT) had its price target upped by Mizuho from $205.00 to $221.00 in a research report report published on Thursday, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

AMT has been the subject of a number of other reports. StockNews.com raised shares of American Tower from a hold rating to a buy rating in a research note on Wednesday, July 31st. Scotiabank increased their price target on American Tower from $223.00 to $248.00 and gave the company a sector outperform rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised their price target on American Tower from $225.00 to $245.00 and gave the stock an overweight rating in a research report on Wednesday, July 31st. BMO Capital Markets reiterated an outperform rating and issued a $246.00 price objective (up previously from $225.00) on shares of American Tower in a report on Wednesday, July 31st. Finally, Royal Bank of Canada raised their target price on American Tower from $225.00 to $236.00 and gave the stock an outperform rating in a report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, American Tower has an average rating of Moderate Buy and an average target price of $233.29.

American Tower Trading Up 0.6 %

Shares of AMT opened at $238.50 on Thursday. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $111.40 billion, a price-to-earnings ratio of 53.96, a PEG ratio of 1.57 and a beta of 0.83. The stock has a fifty day moving average price of $221.05 and a two-hundred day moving average price of $201.23. American Tower has a 52-week low of $154.58 and a 52-week high of $243.56.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.46 EPS. Analysts predict that American Tower will post 10.18 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be paid a dividend of $1.62 per share. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 2.72%. American Tower’s payout ratio is 146.61%.

Insider Buying and Selling at American Tower

In related news, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the sale, the executive vice president now directly owns 51,746 shares in the company, valued at $12,070,789.42. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the sale, the chief executive officer now owns 61,843 shares in the company, valued at approximately $14,223,890. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the transaction, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,723 shares of company stock valued at $7,795,397. 0.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Northwest Investment Counselors LLC bought a new stake in American Tower during the 1st quarter worth about $25,000. Cultivar Capital Inc. bought a new stake in American Tower during the second quarter worth about $25,000. Fairscale Capital LLC acquired a new position in American Tower during the second quarter valued at approximately $27,000. Gold Investment Management Ltd. bought a new position in American Tower in the fourth quarter valued at approximately $28,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of American Tower during the 2nd quarter worth approximately $29,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

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