Q3 2022 EPS Estimates for American Tower Co. (NYSE:AMT) Lowered by KeyCorp

American Tower Co. (NYSE:AMTGet Rating) – Investment analysts at KeyCorp decreased their Q3 2022 EPS estimates for American Tower in a report issued on Monday, August 1st. KeyCorp analyst B. Nispel now anticipates that the real estate investment trust will post earnings of $2.31 per share for the quarter, down from their previous forecast of $2.52. KeyCorp has a “Overweight” rating and a $300.00 price target on the stock. The consensus estimate for American Tower’s current full-year earnings is $9.37 per share. KeyCorp also issued estimates for American Tower’s Q4 2022 earnings at $2.28 EPS, FY2022 earnings at $9.47 EPS, Q1 2023 earnings at $2.52 EPS and Q2 2023 earnings at $2.57 EPS.

American Tower (NYSE:AMTGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.99. The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.64 billion. American Tower had a return on equity of 28.93% and a net margin of 27.23%. American Tower’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.42 EPS.

Several other research firms also recently weighed in on AMT. Jefferies Financial Group dropped their price target on American Tower from $308.00 to $293.00 and set a “buy” rating for the company in a research note on Thursday, June 30th. Citigroup decreased their price target on American Tower from $300.00 to $290.00 and set a “buy” rating on the stock in a report on Monday, July 18th. Deutsche Bank Aktiengesellschaft increased their price target on American Tower from $260.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, July 14th. Bank of America began coverage on American Tower in a research report on Sunday, June 5th. They issued a “buy” rating and a $315.00 price objective on the stock. Finally, Credit Suisse Group began coverage on American Tower in a research report on Wednesday, June 22nd. They set an “outperform” rating and a $313.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $291.69.

American Tower Trading Up 0.3 %

American Tower stock opened at $272.19 on Thursday. The business has a 50-day simple moving average of $256.59 and a two-hundred day simple moving average of $248.36. The company has a market cap of $126.49 billion, a P/E ratio of 44.77, a P/E/G ratio of 2.67 and a beta of 0.46. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 3.47. American Tower has a 52-week low of $220.00 and a 52-week high of $303.72.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 8th. Investors of record on Friday, June 17th were paid a $1.43 dividend. The ex-dividend date of this dividend was Thursday, June 16th. This represents a $5.72 dividend on an annualized basis and a yield of 2.10%. This is a boost from American Tower’s previous quarterly dividend of $1.40. American Tower’s payout ratio is presently 94.08%.

Insider Activity at American Tower

In related news, Director Robert D. Hormats sold 150 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $254.53, for a total value of $38,179.50. Following the transaction, the director now directly owns 6,571 shares in the company, valued at $1,672,516.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Robert D. Hormats sold 150 shares of American Tower stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $254.53, for a total value of $38,179.50. Following the completion of the transaction, the director now owns 6,571 shares of the company’s stock, valued at approximately $1,672,516.63. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert D. Hormats sold 200 shares of American Tower stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $235.40, for a total transaction of $47,080.00. Following the completion of the sale, the director now owns 6,721 shares of the company’s stock, valued at approximately $1,582,123.40. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Cassady Schiller Wealth Management LLC purchased a new stake in shares of American Tower in the fourth quarter worth about $25,000. Rational Advisors LLC raised its position in shares of American Tower by 140.0% in the 4th quarter. Rational Advisors LLC now owns 84 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 49 shares during the last quarter. Charter Oak Capital Management LLC purchased a new position in shares of American Tower in the 2nd quarter worth about $26,000. Sandy Cove Advisors LLC purchased a new position in American Tower in the 4th quarter worth about $27,000. Finally, Crewe Advisors LLC bought a new stake in shares of American Tower during the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

American Tower Company Profile

(Get Rating)

American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.

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

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