American Tower Corp (NYSE:AMT) EVP William H. Hess sold 28,291 shares of the firm’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $145.28, for a total transaction of $4,110,116.48. Following the completion of the sale, the executive vice president now owns 92,721 shares in the company, valued at approximately $13,470,506.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
American Tower Corp (NYSE AMT) opened at $146.25 on Wednesday. The company has a market capitalization of $63,958.66, a price-to-earnings ratio of 54.78, a P/E/G ratio of 1.63 and a beta of 0.80. American Tower Corp has a 12-month low of $113.66 and a 12-month high of $155.28. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.25 and a quick ratio of 1.25.
American Tower (NYSE:AMT) last issued its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.59 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.04). The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. American Tower had a return on equity of 17.20% and a net margin of 18.31%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the business earned $1.52 earnings per share. analysts predict that American Tower Corp will post 7.09 EPS for the current year.
American Tower declared that its Board of Directors has initiated a share buyback plan on Thursday, December 7th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
Several equities research analysts have recently issued reports on AMT shares. Zacks Investment Research upgraded shares of American Tower from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research note on Tuesday, January 2nd. Oppenheimer raised their target price on American Tower from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 20th. Morgan Stanley reaffirmed an “overweight” rating and issued a $172.00 target price on shares of American Tower in a research report on Wednesday, December 13th. ValuEngine cut American Tower from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $177.00 target price (up from $156.00) on shares of American Tower in a research report on Monday, November 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $157.87.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Investment Centers of America Inc. lifted its holdings in shares of American Tower by 5.6% during the third quarter. Investment Centers of America Inc. now owns 6,495 shares of the real estate investment trust’s stock valued at $887,000 after acquiring an additional 343 shares during the period. IFM Investors Pty Ltd lifted its holdings in shares of American Tower by 3.0% during the third quarter. IFM Investors Pty Ltd now owns 11,978 shares of the real estate investment trust’s stock valued at $1,637,000 after acquiring an additional 353 shares during the period. Security National Trust Co. lifted its holdings in shares of American Tower by 7.7% during the fourth quarter. Security National Trust Co. now owns 5,035 shares of the real estate investment trust’s stock valued at $718,000 after acquiring an additional 360 shares during the period. ETRADE Capital Management LLC lifted its holdings in shares of American Tower by 9.5% during the fourth quarter. ETRADE Capital Management LLC now owns 4,253 shares of the real estate investment trust’s stock valued at $607,000 after acquiring an additional 368 shares during the period. Finally, CAPROCK Group Inc. lifted its holdings in shares of American Tower by 19.2% during the fourth quarter. CAPROCK Group Inc. now owns 2,352 shares of the real estate investment trust’s stock valued at $313,000 after acquiring an additional 379 shares during the period. 92.52% of the stock is owned by institutional investors.
TRADEMARK VIOLATION WARNING: This piece was published by Ticker Report and is the sole property of of Ticker Report. If you are reading this piece on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be accessed at https://www.tickerreport.com/banking-finance/3261710/insider-selling-american-tower-corp-amt-evp-sells-28291-shares-of-stock.html.
American Tower 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.
Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.