American Tower Corp. (AMT) Chairman James D. Taiclet, Jr. Sells 40,625 Shares
American Tower Corp. (NYSE:AMT) Chairman James D. Taiclet, Jr. sold 40,625 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $108.80, for a total transaction of $4,420,000.00. Following the transaction, the chairman now owns 226,517 shares of the company’s stock, valued at approximately $24,645,049.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
American Tower Corp. (NYSE:AMT) opened at 108.65 on Wednesday. The stock has a market cap of $46.23 billion, a P/E ratio of 67.44 and a beta of 0.57. The stock has a 50 day moving average of $113.79 and a 200-day moving average of $108.78. American Tower Corp. has a one year low of $83.07 and a one year high of $118.26.
American Tower Corp. (NYSE:AMT) last released its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by $0.03. The business earned $1.44 billion during the quarter, compared to analyst estimates of $1.44 billion. American Tower Corp. had a return on equity of 11.73% and a net margin of 15.21%. The business’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.26 EPS. Analysts anticipate that American Tower Corp. will post $5.70 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Wednesday, September 28th. This is an increase from American Tower Corp.’s previous quarterly dividend of $0.53. American Tower Corp.’s payout ratio is currently 131.68%.
Several research analysts have commented on AMT shares. SunTrust Banks Inc. started coverage on shares of American Tower Corp. in a report on Monday, September 12th. They set a “buy” rating and a $128.00 price target for the company. Jefferies Group reiterated a “buy” rating on shares of American Tower Corp. in a report on Saturday, August 6th. Deutsche Bank AG reiterated a “buy” rating and set a $117.00 price target on shares of American Tower Corp. in a report on Tuesday, May 31st. Citigroup Inc. upped their target price on shares of American Tower Corp. from $121.00 to $134.00 and gave the company a “buy” rating in a report on Monday, July 11th. Finally, BTIG Research upped their target price on shares of American Tower Corp. to $140.00 in a report on Tuesday, July 19th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $120.59.
A number of institutional investors have recently added to or reduced their stakes in the company. WFG Advisors LP increased its position in 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 in the last quarter. Homrich & Berg increased its position in 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 in the last quarter. Carroll Financial Associates Inc. increased its position in 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 worth $274,000 after buying an additional 26 shares in the last quarter. Sigma Planning Corp increased its position in 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 worth $271,000 after buying an additional 29 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its position in 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 worth $271,000 after buying an additional 44 shares in the last quarter. 94.23% of the stock is owned by hedge funds and other institutional investors.
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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