American Tower Corp (NYSE:AMT) EVP Steven O. Vondran sold 1,388 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $259.50, for a total transaction of $360,186.00. Following the completion of the transaction, the executive vice president now owns 24,386 shares in the company, valued at approximately $6,328,167. The sale was disclosed in a legal filing with the SEC, which is available through this link.
AMT opened at $264.21 on Monday. The business has a 50 day moving average of $253.48 and a 200-day moving average of $239.16. The stock has a market capitalization of $117.13 billion, a price-to-earnings ratio of 61.88, a P/E/G ratio of 2.24 and a beta of 0.45. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 5.40. American Tower Corp has a 1-year low of $174.32 and a 1-year high of $269.25.
American Tower (NYSE:AMT) last announced its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.93 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.05 by ($0.12). American Tower had a return on equity of 35.63% and a net margin of 24.55%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same period last year, the firm posted $1.84 EPS. The company’s revenue was up 9.9% compared to the same quarter last year. Equities analysts predict that American Tower Corp will post 8 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 19th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $4.40 dividend on an annualized basis and a yield of 1.67%. This is an increase from American Tower’s previous quarterly dividend of $1.08. American Tower’s payout ratio is currently 56.92%.
A number of equities research analysts have recently issued reports on the stock. Oppenheimer upgraded shares of American Tower from a “market perform” rating to an “outperform” rating and set a $270.00 target price on the stock in a research note on Friday, May 22nd. Edward Jones upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research note on Tuesday, March 24th. Wells Fargo & Co increased their price objective on American Tower from $265.00 to $272.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. New Street Research upgraded American Tower from a “neutral” rating to a “buy” rating in a research report on Thursday, March 12th. Finally, Raymond James upgraded American Tower from a “market perform” rating to an “outperform” rating and set a $211.00 price target for the company in a research report on Thursday, March 26th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $261.86.
Large investors have recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in American Tower by 9.1% during the 4th quarter. Victory Capital Management Inc. now owns 177,454 shares of the real estate investment trust’s stock worth $40,782,000 after purchasing an additional 14,804 shares during the last quarter. Vident Investment Advisory LLC lifted its position in American Tower by 9.5% during the 4th quarter. Vident Investment Advisory LLC now owns 5,779 shares of the real estate investment trust’s stock worth $1,328,000 after buying an additional 503 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of American Tower by 88.7% during the 4th quarter. Schroder Investment Management Group now owns 131,200 shares of the real estate investment trust’s stock worth $30,152,000 after purchasing an additional 61,673 shares during the last quarter. Atria Investments LLC increased its stake in shares of American Tower by 60.7% during the 4th quarter. Atria Investments LLC now owns 9,684 shares of the real estate investment trust’s stock worth $2,226,000 after purchasing an additional 3,657 shares during the last quarter. Finally, Ieq Capital LLC acquired a new position in shares of American Tower during the 4th quarter worth about $1,258,000. Institutional investors own 91.12% of the company’s stock.
About American Tower
American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 171,000 communications sites.
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