Insider Selling: American Tower Corp Director Unloads 5,000 Shares of Stock (AMT)
American Tower Corp (NYSE:AMT) Director Carolyn Katz unloaded 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $99.08, for a total value of $495,400.00. Following the completion of the transaction, the director now directly owns 19,177 shares of the company’s stock, valued at approximately $1,900,057. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. 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 research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $102.73.
Shares of 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’s 50-day moving average is $92.73 and its 200-day moving average is $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 posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.58 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.25 earnings per share. American Tower Corp’s revenue was up 27.5% compared to the same quarter last year. Analysts expect that American Tower Corp will post $2.25 EPS for the current fiscal year.
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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