American Tower Corp. (NYSE:AMT) Chairman James D. Taiclet, Jr. sold 40,625 shares of the stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $108.80, for a total value of $4,420,000.00. Following the transaction, the chairman now directly owns 226,517 shares in the company, valued at approximately $24,645,049.60. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of American Tower Corp. (NYSE:AMT) opened at 112.99 on Monday. American Tower Corp. has a 12-month low of $83.07 and a 12-month high of $118.26. The firm has a market capitalization of $48.08 billion, a PE ratio of 70.14 and a beta of 0.57. The stock has a 50 day moving average price of $113.40 and a 200 day moving average price of $108.93.
American Tower Corp. (NYSE:AMT) last announced its earnings results on Thursday, July 28th. The real estate investment trust reported $1.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.36 by $0.03. American Tower Corp. had a return on equity of 11.73% and a net margin of 15.21%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. The firm’s revenue was up 22.8% compared to the same quarter last year. Analysts predict that American Tower Corp. will post $5.70 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.95%. This is a positive change from American Tower Corp.’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Wednesday, September 28th. American Tower Corp.’s payout ratio is presently 131.68%.
Several equities analysts recently issued reports on the company. Jefferies Group reissued a “buy” rating on shares of American Tower Corp. in a research note on Saturday, August 6th. SunTrust Banks Inc. started coverage on American Tower Corp. in a report on Monday, September 12th. They set a “buy” rating and a $128.00 price target on the stock. BTIG Research upped their price target on American Tower Corp. to $140.00 in a report on Tuesday, July 19th. They noted that the move was a valuation call. Deutsche Bank AG restated a “buy” rating and set a $117.00 price target on shares of American Tower Corp. in a report on Tuesday, May 31st. Finally, Argus upped their price target on American Tower Corp. from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, August 17th. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. American Tower Corp. presently has a consensus rating of “Buy” and a consensus price target of $120.59.
Several hedge funds have recently made changes to their positions in AMT. WFG Advisors LP raised its stake in shares of American Tower Corp. by 1.2% in the second quarter. WFG Advisors LP now owns 1,473 shares of the real estate investment trust’s stock worth $167,000 after buying an additional 18 shares during the last quarter. Homrich & Berg raised its stake in shares of American Tower Corp. by 0.4% in the second quarter. Homrich & Berg now owns 5,625 shares of the real estate investment trust’s stock worth $639,000 after buying an additional 21 shares during the last quarter. Carroll Financial Associates Inc. raised its stake in shares of American Tower Corp. by 1.0% in the first quarter. Carroll Financial Associates Inc. now owns 2,681 shares of the real estate investment trust’s stock valued at $274,000 after buying an additional 26 shares in the last quarter. Sigma Planning Corp raised its stake in shares of American Tower Corp. by 1.2% in the second quarter. Sigma Planning Corp now owns 2,383 shares of the real estate investment trust’s stock valued at $271,000 after buying an additional 29 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of American Tower Corp. by 1.8% in the second quarter. Quadrant Capital Group LLC now owns 2,453 shares of the real estate investment trust’s stock valued at $271,000 after buying an additional 44 shares in the last quarter. 94.23% of the stock is currently owned by institutional investors and hedge funds.
American Tower Corp. Company Profile
American Tower Corporation is a holding company. The company owns, operates and develops wireless and broadcast communications real estate. Its primary business is leasing antenna space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data and data providers, government agencies and municipalities.
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