American Tower Corp (NYSE:AMT) Director David E. Sharbutt sold 3,653 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $128.61, for a total transaction of $469,812.33. Following the transaction, the director now owns 10,098 shares of the company’s stock, valued at approximately $1,298,703.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of American Tower Corp (NYSE:AMT) traded up 0.32% during trading on Monday, reaching $128.73. 1,449,115 shares of the company’s stock were exchanged. The firm has a market cap of $54.71 billion, a price-to-earnings ratio of 62.16 and a beta of 0.61. American Tower Corp has a 12 month low of $99.72 and a 12 month high of $132.86. The stock has a 50-day moving average price of $125.18 and a 200 day moving average price of $112.68.

American Tower Corp (NYSE:AMT) last issued its earnings results on Thursday, April 27th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.51 by $0.84. American Tower Corp had a return on equity of 14.05% and a net margin of 17.37%. The business had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period last year, the firm posted $0.58 EPS. American Tower Corp’s quarterly revenue was up 25.4% compared to the same quarter last year. On average, analysts forecast that American Tower Corp will post $2.97 EPS for the current year.

Insider Buying and Selling by Quarter for American Tower Corp (NYSE:AMT)

The firm also recently announced a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Wednesday, April 12th were given a $0.62 dividend. This is a positive change from American Tower Corp’s previous quarterly dividend of $0.58. The ex-dividend date was Monday, April 10th. This represents a $2.48 dividend on an annualized basis and a yield of 1.93%. American Tower Corp’s payout ratio is 117.17%.

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AMT has been the subject of several research reports. Zacks Investment Research upgraded shares of American Tower Corp from a “sell” rating to a “hold” rating in a research report on Wednesday, March 1st. Royal Bank of Canada increased their price target on shares of American Tower Corp from $134.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, April 28th. Guggenheim upgraded shares of American Tower Corp from a “neutral” rating to a “buy” rating and increased their price target for the company from $117.00 to $135.00 in a research report on Monday, April 10th. Jefferies Group LLC restated a “buy” rating and set a $136.00 price target on shares of American Tower Corp in a research report on Monday, April 3rd. Finally, Pacific Crest increased their price target on shares of American Tower Corp to $132.00 in a research report on Wednesday, March 22nd. Ten analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average price target of $134.67.

A number of institutional investors have recently modified their holdings of AMT. Norges Bank purchased a new stake in American Tower Corp during the fourth quarter worth about $178,214,000. Wellington Management Group LLP increased its stake in American Tower Corp by 8.4% in the first quarter. Wellington Management Group LLP now owns 21,788,278 shares of the real estate investment trust’s stock worth $2,648,146,000 after buying an additional 1,679,615 shares in the last quarter. American Century Companies Inc. increased its stake in American Tower Corp by 60.8% in the first quarter. American Century Companies Inc. now owns 3,986,977 shares of the real estate investment trust’s stock worth $484,577,000 after buying an additional 1,507,172 shares in the last quarter. Janus Capital Management LLC increased its stake in American Tower Corp by 18.3% in the fourth quarter. Janus Capital Management LLC now owns 7,007,311 shares of the real estate investment trust’s stock worth $740,579,000 after buying an additional 1,084,942 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in American Tower Corp by 3.8% in the first quarter. Vanguard Group Inc. now owns 27,561,482 shares of the real estate investment trust’s stock worth $3,349,823,000 after buying an additional 1,008,946 shares in the last quarter. 93.07% of the stock is owned by institutional investors and hedge funds.

About American Tower Corp

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.

12 Month Chart for NYSE:AMT

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