Q3 2017 Earnings Forecast for American Tower Corporation (REIT) (NYSE:AMT) Issued By KeyCorp

American Tower Corporation (REIT) (NYSE:AMT) – Investment analysts at KeyCorp decreased their Q3 2017 earnings estimates for American Tower Corporation (REIT) in a report issued on Thursday. KeyCorp analyst B. Nispel now forecasts that the real estate investment trust will post earnings of $1.58 per share for the quarter, down from their previous estimate of $1.60. KeyCorp also issued estimates for American Tower Corporation (REIT)’s Q4 2017 earnings at $1.62 EPS and FY2017 earnings at $6.42 EPS.

Several other research firms have also issued reports on AMT. Zacks Investment Research upgraded shares of American Tower Corporation (REIT) from a “sell” rating to a “hold” rating and set a $153.00 target price on the stock in a report on Thursday, July 27th. BidaskClub lowered shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a report on Monday. Cowen and Company restated a “buy” rating and issued a $155.00 target price on shares of American Tower Corporation (REIT) in a report on Wednesday, July 19th. Deutsche Bank AG boosted their target price on shares of American Tower Corporation (REIT) from $145.00 to $157.00 and gave the company a “buy” rating in a report on Friday, July 14th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $150.00 target price on shares of American Tower Corporation (REIT) in a report on Thursday, July 6th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $141.08.

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Shares of American Tower Corporation (NYSE:AMT) opened at 135.97 on Monday. The company has a market cap of $58.36 billion, a PE ratio of 54.39 and a beta of 0.71. The company has a 50 day moving average of $133.71 and a 200-day moving average of $122.47. American Tower Corporation has a 52-week low of $99.72 and a 52-week high of $139.50.

American Tower Corporation (REIT) (NYSE:AMT) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.80 EPS for the quarter, missing the Zacks’ consensus estimate of $1.55 by $0.75. American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the company earned $1.38 EPS. American Tower Corporation (REIT)’s quarterly revenue was up 15.3% on a year-over-year basis.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, June 19th were given a dividend of $0.64 per share. The ex-dividend date of this dividend was Thursday, June 15th. This is an increase from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. This represents a $2.56 annualized dividend and a dividend yield of 1.88%. American Tower Corporation (REIT)’s payout ratio is presently 102.81%.

In other news, EVP Amit Sharma sold 61,096 shares of the business’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $126.57, for a total transaction of $7,732,920.72. Following the completion of the sale, the executive vice president now directly owns 177,556 shares of the company’s stock, valued at $22,473,262.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Steven C. Marshall sold 20,548 shares of the business’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $134.92, for a total transaction of $2,772,336.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,297 shares of company stock valued at $10,975,069. 0.86% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the company. Vontobel Asset Management Inc. increased its stake in American Tower Corporation (REIT) by 8.4% in the first quarter. Vontobel Asset Management Inc. now owns 1,412,135 shares of the real estate investment trust’s stock valued at $176,930,000 after buying an additional 109,197 shares during the last quarter. Union Bankshares Corp increased its stake in American Tower Corporation (REIT) by 2.7% in the first quarter. Union Bankshares Corp now owns 2,102 shares of the real estate investment trust’s stock valued at $255,000 after buying an additional 56 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in American Tower Corporation (REIT) by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 132,644 shares of the real estate investment trust’s stock valued at $16,121,000 after buying an additional 1,700 shares during the last quarter. GW&K Investment Management LLC increased its stake in American Tower Corporation (REIT) by 297.5% in the first quarter. GW&K Investment Management LLC now owns 316,761 shares of the real estate investment trust’s stock valued at $38,499,000 after buying an additional 237,069 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. increased its stake in American Tower Corporation (REIT) by 4.3% in the first quarter. Stock Yards Bank & Trust Co. now owns 94,511 shares of the real estate investment trust’s stock valued at $11,487,000 after buying an additional 3,916 shares during the last quarter. 93.26% of the stock is owned by institutional investors.

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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