American Tower Co. (NYSE:AMT) – Research analysts at Jefferies Group lowered their Q4 2018 earnings per share (EPS) estimates for shares of American Tower in a note issued to investors on Wednesday, April 18th. Jefferies Group analyst S. Goldman now forecasts that the real estate investment trust will post earnings per share of $1.75 for the quarter, down from their prior forecast of $1.76.
AMT has been the topic of several other reports. KeyCorp set a $171.00 target price on American Tower and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Citigroup reduced their target price on American Tower from $162.00 to $161.00 and set a “buy” rating on the stock in a research report on Tuesday, March 27th. Zacks Investment Research downgraded American Tower from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Finally, Morgan Stanley reduced their target price on American Tower from $161.00 to $157.00 and set an “overweight” rating on the stock in a research report on Friday, March 16th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $160.38.
American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.63 by ($0.04). American Tower had a return on equity of 17.20% and a net margin of 18.31%. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter last year, the company posted $1.52 earnings per share. The business’s quarterly revenue was up 10.7% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Wednesday, April 11th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.18%. This is an increase from American Tower’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, April 10th. American Tower’s dividend payout ratio (DPR) is 47.02%.
In other news, EVP William H. Hess sold 28,291 shares of the stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $145.28, for a total value of $4,110,116.48. Following the completion of the sale, the executive vice president now owns 92,721 shares in the company, valued at $13,470,506.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Amit Sharma sold 32,943 shares of the stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $138.82, for a total value of $4,573,147.26. Following the completion of the sale, the executive vice president now owns 111,558 shares of the company’s stock, valued at approximately $15,486,481.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,579 shares of company stock worth $9,319,595. Company insiders own 0.86% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Pinebridge Investments L.P. acquired a new stake in shares of American Tower in the fourth quarter valued at about $182,000. SNS Financial Group LLC acquired a new stake in shares of American Tower in the fourth quarter valued at about $201,000. Resources Investment Advisors Inc. grew its stake in shares of American Tower by 51.1% in the fourth quarter. Resources Investment Advisors Inc. now owns 1,428 shares of the real estate investment trust’s stock valued at $203,000 after buying an additional 483 shares in the last quarter. Cypress Wealth Services LLC acquired a new stake in shares of American Tower in the fourth quarter valued at about $204,000. Finally, Moors & Cabot Inc. acquired a new stake in shares of American Tower in the fourth quarter valued at about $204,000. Institutional investors and hedge funds own 89.98% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This news story was originally published by Week Herald and is owned by of Week Herald. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The correct version of this news story can be viewed at https://weekherald.com/2018/04/20/american-tower-co-amt-forecasted-to-earn-q4-2018-earnings-of-1-75-per-share.html.
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 150,000 communications sites. For more information about American Tower, please visit the ?Earnings Materials? and ?Company & Industry Resources? sections of our investor relations website at www.americantower.com.
Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.