Brokerages forecast that American Tower Corporation (REIT) (NYSE:AMT) will report sales of $1.68 billion for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for American Tower Corporation (REIT)’s earnings, with the highest sales estimate coming in at $1.68 billion and the lowest estimate coming in at $1.67 billion. American Tower Corporation (REIT) reported sales of $1.51 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 11.3%. The company is expected to announce its next earnings results on Thursday, October 26th.
On average, analysts expect that American Tower Corporation (REIT) will report full year sales of $1.68 billion for the current fiscal year, with estimates ranging from $6.63 billion to $6.67 billion. For the next year, analysts expect that the business will post sales of $7.15 billion per share, with estimates ranging from $6.99 billion to $7.43 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for American Tower Corporation (REIT).
American Tower Corporation (REIT) (NYSE:AMT) last announced its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by $0.75. American Tower Corporation (REIT) had a return on equity of 16.70% and a net margin of 18.58%. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the company posted $1.38 earnings per share. The company’s quarterly revenue was up 15.3% compared to the same quarter last year.
A number of brokerages have recently issued reports on AMT. BidaskClub raised American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Investment Research raised American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 price target on the stock in a research note on Thursday, August 3rd. Argus lifted their price target on American Tower Corporation (REIT) from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Cowen and Company reaffirmed a “buy” rating and issued a $155.00 price target on shares of American Tower Corporation (REIT) in a research note on Wednesday, July 19th. Finally, Deutsche Bank AG lifted their price target on American Tower Corporation (REIT) from $145.00 to $157.00 and gave the stock a “buy” rating in a research note on Friday, July 14th. Thirteen research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus price target of $142.67.
Shares of American Tower Corporation (NYSE AMT) traded up 0.31% during midday trading on Friday, hitting $144.24. 1,253,977 shares of the stock were exchanged. The stock has a market cap of $61.90 billion, a P/E ratio of 57.70 and a beta of 0.71. The firm’s 50 day moving average price is $137.50 and its 200-day moving average price is $126.63. American Tower Corporation has a 52-week low of $99.72 and a 52-week high of $146.09.
In other American Tower Corporation (REIT) news, EVP Steven C. Marshall sold 20,548 shares of American Tower Corporation (REIT) stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $134.92, for a total value of $2,772,336.16. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Amit Sharma sold 20,747 shares of American Tower Corporation (REIT) stock in a transaction on Friday, August 18th. The shares were sold at an average price of $139.67, for a total value of $2,897,733.49. Following the completion of the sale, the executive vice president now owns 101,605 shares in the company, valued at approximately $14,191,170.35. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Alexandria Capital LLC increased its stake in American Tower Corporation (REIT) by 0.5% in the second quarter. Alexandria Capital LLC now owns 812 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 4 shares in the last quarter. Cornerstone Advisors Inc. increased its stake in American Tower Corporation (REIT) by 1.2% in the second quarter. Cornerstone Advisors Inc. now owns 1,235 shares of the real estate investment trust’s stock worth $163,000 after buying an additional 15 shares in the last quarter. Baxter Bros Inc. increased its stake in American Tower Corporation (REIT) by 0.4% in the second quarter. Baxter Bros Inc. now owns 3,470 shares of the real estate investment trust’s stock worth $459,000 after buying an additional 15 shares in the last quarter. Guardian Life Insurance Co. of America increased its stake in American Tower Corporation (REIT) by 1.2% in the first quarter. Guardian Life Insurance Co. of America now owns 1,650 shares of the real estate investment trust’s stock worth $201,000 after buying an additional 19 shares in the last quarter. Finally, HL Financial Services LLC increased its stake in American Tower Corporation (REIT) by 0.5% in the second quarter. HL Financial Services LLC now owns 3,675 shares of the real estate investment trust’s stock worth $486,000 after buying an additional 19 shares in the last quarter. Institutional investors own 92.36% of the company’s stock.
American Tower Corporation (REIT) Company Profile
American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.
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