American Tower Corporation (REIT) (NYSE:AMT) posted its quarterly earnings data on Tuesday. The real estate investment trust reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.10), Bloomberg Earnings reports. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.68 billion. American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.42 earnings per share.

American Tower Corporation (NYSE:AMT) traded up 0.56% during midday trading on Tuesday, reaching $143.67. 2,998,416 shares of the company traded hands. The firm has a market capitalization of $61.66 billion, a price-to-earnings ratio of 57.47 and a beta of 0.69. The firm’s 50 day moving average price is $139.39 and its 200 day moving average price is $135.18. American Tower Corporation has a 12 month low of $99.72 and a 12 month high of $148.71.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 17th. Investors of record on Friday, September 29th were paid a dividend of $0.66 per share. This is a positive change from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.64 annualized dividend and a yield of 1.84%. American Tower Corporation (REIT)’s dividend payout ratio is 106.02%.

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In other news, EVP Amit Sharma sold 20,747 shares of American Tower Corporation (REIT) stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $139.67, for a total transaction of $2,897,733.49. Following the sale, the executive vice president now directly owns 101,605 shares in the company, valued at approximately $14,191,170.35. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Pamela D. A. Reeve sold 5,000 shares of American Tower Corporation (REIT) stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $143.49, for a total transaction of $717,450.00. Following the sale, the director now owns 17,758 shares in the company, valued at $2,548,095.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,747 shares of company stock worth $16,054,543. 0.86% of the stock is owned by company insiders.

A number of equities analysts have weighed in on AMT shares. Zacks Investment Research cut shares of American Tower Corporation (REIT) from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Stifel Nicolaus reissued a “buy” rating and issued a $150.00 price objective on shares of American Tower Corporation (REIT) in a research report on Thursday, July 6th. Deutsche Bank AG upped their price objective on shares of American Tower Corporation (REIT) from $145.00 to $157.00 and gave the company a “buy” rating in a research report on Friday, July 14th. Cowen and Company reissued a “buy” rating and issued a $155.00 price objective on shares of American Tower Corporation (REIT) in a research report on Wednesday, July 19th. Finally, BidaskClub raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. American Tower Corporation (REIT) has a consensus rating of “Buy” and a consensus price target of $148.58.

American Tower Corporation (REIT) Company Profile

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.

Earnings History for American Tower Corporation (REIT) (NYSE:AMT)

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