American Tower Corp CEO Sells $3,958,400 in Stock (AMT)
American Tower Corp (NYSE:AMT) CEO James D. Taiclet, Jr. unloaded 40,000 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $98.96, for a total transaction of $3,958,400.00. Following the completion of the sale, the chief executive officer now directly owns 36,497 shares of the company’s stock, valued at approximately $3,611,743. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
American Tower Corp (NYSE:AMT) traded up 0.52% on Wednesday, hitting $97.21. The stock had a trading volume of 1,797,645 shares. American Tower Corp has a 52-week low of $67.89 and a 52-week high of $99.56. The stock has a 50-day moving average of $92.73 and a 200-day moving average of $86.31. The company has a market cap of $38.509 billion and a price-to-earnings ratio of 54.33.
American Tower Corp (NYSE:AMT) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.54 by $0.04. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $999.15 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. The company’s quarterly revenue was up 27.5% on a year-over-year basis. Analysts expect that American Tower Corp will post $2.25 EPS for the current fiscal year.
AMT has been the subject of a number of recent research reports. Analysts at RBC Capital raised their price target on shares of American Tower Corp from $105.00 to $108.00 in a research note on Friday, August 1st. Separately, analysts at Raymond James reiterated a “strong-buy” rating on shares of American Tower Corp in a research note on Thursday, July 31st. They now have a $112.00 price target on the stock, up previously from $106.00. Finally, analysts at Barclays reiterated an “overweight” rating on shares of American Tower Corp in a research note on Thursday, July 31st. They now have a $104.00 price target on the stock, up previously from $95.00. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $102.73.
American Tower Corporation is a holding company. The Company conducts its operations through its directly and indirectly owned subsidiaries and joint ventures.
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