American Tower Corp (NYSE:AMT) Director Samme L. Thompson sold 3,500 shares of the stock in a transaction on Tuesday, March 20th. The stock was sold at an average price of $146.36, for a total value of $512,260.00. Following the completion of the transaction, the director now directly owns 22,125 shares in the company, valued at $3,238,215. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of American Tower stock traded up $0.68 during mid-day trading on Thursday, hitting $143.01. 2,454,064 shares of the stock were exchanged, compared to its average volume of 2,837,330. American Tower Corp has a 12 month low of $118.07 and a 12 month high of $155.28. The firm has a market capitalization of $64,500.91, a price-to-earnings ratio of 53.56, a price-to-earnings-growth ratio of 1.64 and a beta of 0.80. 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 announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.63 by ($0.04). American Tower had a net margin of 18.31% and a return on equity of 17.20%. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the prior year, the company earned $1.52 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. equities research analysts anticipate that American Tower Corp will post 7.09 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Wednesday, April 11th will be issued a $0.75 dividend. This is a positive change from American Tower’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Tuesday, April 10th. American Tower’s dividend payout ratio is currently 104.87%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Chemical Bank lifted its holdings in American Tower by 50.6% in the fourth quarter. Chemical Bank now owns 3,235 shares of the real estate investment trust’s stock valued at $461,000 after buying an additional 1,087 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in American Tower by 28.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 22,639 shares of the real estate investment trust’s stock valued at $3,230,000 after buying an additional 4,963 shares during the period. Xact Kapitalforvaltning AB lifted its holdings in American Tower by 8.3% in the fourth quarter. Xact Kapitalforvaltning AB now owns 70,425 shares of the real estate investment trust’s stock valued at $10,048,000 after buying an additional 5,382 shares during the period. CNB Bank acquired a new position in American Tower in the fourth quarter valued at approximately $325,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in American Tower by 17.0% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 278,258 shares of the real estate investment trust’s stock valued at $39,699,000 after buying an additional 40,384 shares during the period. Institutional investors and hedge funds own 89.94% of the company’s stock.
AMT has been the topic of several research reports. Morgan Stanley reissued an “overweight” rating and issued a $172.00 price objective on shares of American Tower in a research report on Wednesday, December 13th. KeyCorp reiterated an “overweight” rating and issued a $177.00 price target (up from $156.00) on shares of American Tower in a research note on Monday, November 27th. Zacks Investment Research raised shares of American Tower from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a report on Tuesday, January 2nd. ValuEngine cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Citigroup cut their price target on American Tower from $169.00 to $162.00 and set a “buy” rating on the stock in a report on Monday, March 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have assigned a buy rating to the stock. American Tower has a consensus rating of “Buy” and an average target price of $156.87.
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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.
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