Oppenheimer Comments on American Tower Corp’s Q4 2019 Earnings (NYSE:AMT)

American Tower Corp (NYSE:AMT) – Equities research analysts at Oppenheimer reduced their Q4 2019 earnings per share (EPS) estimates for shares of American Tower in a research report issued on Monday, November 4th. Oppenheimer analyst T. Horan now forecasts that the real estate investment trust will post earnings of $1.86 per share for the quarter, down from their previous forecast of $1.91.

American Tower (NYSE:AMT) last announced its earnings results on Thursday, October 31st. The real estate investment trust reported $1.12 EPS for the quarter, topping the consensus estimate of $0.95 by $0.17. American Tower had a net margin of 20.58% and a return on equity of 27.12%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the firm posted $1.85 EPS. American Tower’s revenue was up 9.5% compared to the same quarter last year.

Other equities analysts have also recently issued reports about the stock. SunTrust Banks boosted their target price on shares of American Tower to $230.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. 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 report on Tuesday, August 20th. ValuEngine lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. KeyCorp set a $242.00 price objective on shares of American Tower and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Morgan Stanley increased their target price on shares of American Tower from $201.00 to $216.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 19th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $215.79.

Shares of American Tower stock opened at $207.98 on Wednesday. The company has a 50-day simple moving average of $221.69 and a two-hundred day simple moving average of $213.29. The stock has a market capitalization of $95.41 billion, a price-to-earnings ratio of 26.03, a price-to-earnings-growth ratio of 1.72 and a beta of 0.43. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 4.40. American Tower has a twelve month low of $150.66 and a twelve month high of $242.00.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Friday, September 27th were paid a dividend of $0.95 per share. The ex-dividend date was Thursday, September 26th. This is an increase from American Tower’s previous quarterly dividend of $0.92. This represents a $3.80 annualized dividend and a dividend yield of 1.83%. American Tower’s dividend payout ratio (DPR) is 47.56%.

In other American Tower news, EVP Edmund Disanto sold 31,669 shares of American Tower stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $226.54, for a total transaction of $7,174,295.26. Following the transaction, the executive vice president now directly owns 166,730 shares of the company’s stock, valued at $37,771,014.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Craig Macnab sold 5,953 shares of American Tower stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $225.46, for a total transaction of $1,342,163.38. Following the transaction, the director now directly owns 14,341 shares in the company, valued at $3,233,321.86. The disclosure for this sale can be found here. Insiders have sold 140,524 shares of company stock worth $31,519,347 over the last three months. Insiders own 0.75% of the company’s stock.

Several hedge funds have recently bought and sold shares of AMT. TrinityPoint Wealth LLC increased its stake in shares of American Tower by 1.4% in the second quarter. TrinityPoint Wealth LLC now owns 3,479 shares of the real estate investment trust’s stock worth $712,000 after buying an additional 49 shares during the period. Biegel & Waller LLC increased its stake in shares of American Tower by 2.9% in the third quarter. Biegel & Waller LLC now owns 1,718 shares of the real estate investment trust’s stock worth $380,000 after buying an additional 49 shares during the period. BKD Wealth Advisors LLC increased its stake in shares of American Tower by 1.8% in the third quarter. BKD Wealth Advisors LLC now owns 2,747 shares of the real estate investment trust’s stock worth $607,000 after buying an additional 49 shares during the period. Hall Laurie J Trustee increased its stake in shares of American Tower by 13.3% in the second quarter. Hall Laurie J Trustee now owns 425 shares of the real estate investment trust’s stock worth $87,000 after buying an additional 50 shares during the period. Finally, Knuff & Co LLC increased its stake in shares of American Tower by 0.3% in the second quarter. Knuff & Co LLC now owns 18,390 shares of the real estate investment trust’s stock worth $3,760,000 after buying an additional 50 shares during the period. 92.54% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Company Profile

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.

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Earnings History and Estimates for American Tower (NYSE:AMT)

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