American Tower Corp (AMT) Director Sells $469,812.33 in Stock
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.
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.
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