American Tower Corp (NYSE:AMT) Director Robert D. Hormats sold 100 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $225.74, for a total transaction of $22,574.00. Following the sale, the director now owns 5,570 shares of the company’s stock, valued at approximately $1,257,371.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
American Tower stock opened at $229.09 on Friday. American Tower Corp has a fifty-two week low of $146.90 and a fifty-two week high of $242.00. The company has a debt-to-equity ratio of 4.13, a quick ratio of 0.49 and a current ratio of 0.49. The firm has a 50 day moving average price of $224.88 and a 200 day moving average price of $211.14. The company has a market capitalization of $100.01 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 1.80 and a beta of 0.44.
American Tower (NYSE:AMT) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.87 by ($0.91). American Tower had a net margin of 19.30% and a return on equity of 24.75%. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the business posted $1.74 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities research analysts forecast that American Tower Corp will post 7.67 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Friday, September 27th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 1.66%. The ex-dividend date was Thursday, September 26th. This is a boost from American Tower’s previous quarterly dividend of $0.92. American Tower’s dividend payout ratio (DPR) is currently 47.56%.
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in American Tower by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 57,494,934 shares of the real estate investment trust’s stock valued at $11,754,838,000 after buying an additional 248,968 shares during the period. BlackRock Inc. boosted its position in American Tower by 4.0% in the 2nd quarter. BlackRock Inc. now owns 31,549,686 shares of the real estate investment trust’s stock valued at $6,450,332,000 after buying an additional 1,213,664 shares during the period. Northern Trust Corp boosted its position in American Tower by 1.5% in the 2nd quarter. Northern Trust Corp now owns 6,772,952 shares of the real estate investment trust’s stock valued at $1,384,730,000 after buying an additional 96,999 shares during the period. Invesco Ltd. boosted its position in American Tower by 8.3% in the 2nd quarter. Invesco Ltd. now owns 4,140,203 shares of the real estate investment trust’s stock valued at $846,465,000 after buying an additional 316,054 shares during the period. Finally, Nuveen Asset Management LLC boosted its position in American Tower by 16,153.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,848,439 shares of the real estate investment trust’s stock valued at $786,813,000 after buying an additional 3,824,762 shares during the period. 92.56% of the stock is owned by institutional investors.
AMT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of American Tower from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. SunTrust Banks lifted their target price on shares of American Tower to $230.00 and gave the company a “buy” rating in a report on Thursday, August 1st. ValuEngine downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. KeyCorp lifted their target price on shares of American Tower from $225.00 to $253.00 and gave the company an “overweight” rating in a report on Monday, August 19th. Finally, Zacks Investment Research upgraded shares of American Tower from a “hold” rating to a “buy” rating and set a $237.00 target price for the company in a report on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. American Tower has an average rating of “Hold” and a consensus price target of $206.87.
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 approximately 171,000 communications sites.
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