American Tower Corp (NYSE:AMT) SVP Robert Joseph Meyer, Jr. sold 44,959 shares of American Tower stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $156.43, for a total value of $7,032,936.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of NYSE AMT traded up $0.43 during trading hours on Friday, hitting $159.79. The company’s stock had a trading volume of 66,731 shares, compared to its average volume of 2,700,638. The company has a debt-to-equity ratio of 3.11, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $68.84 billion, a PE ratio of 25.02, a PEG ratio of 1.51 and a beta of 0.59. American Tower Corp has a 12 month low of $130.37 and a 12 month high of $161.71.
American Tower (NYSE:AMT) last posted its earnings results on Tuesday, October 30th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.02. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.76 billion. American Tower had a return on equity of 18.55% and a net margin of 17.07%. American Tower’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the firm earned $1.73 earnings per share. As a group, equities research analysts anticipate that American Tower Corp will post 7.58 earnings per share for the current year.
Several research analysts have recently commented on AMT shares. Barclays lifted their price objective on American Tower from $156.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, October 31st. Morgan Stanley lifted their price objective on American Tower from $154.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, August 16th. Citigroup cut American Tower from a “buy” rating to a “neutral” rating and raised their target price for the stock from $161.00 to $176.00 in a research note on Wednesday, October 31st. Bank of America set a $172.00 target price on American Tower and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Finally, Guggenheim cut American Tower from a “buy” rating to a “neutral” rating and set a $135.00 target price on the stock. in a research note on Monday, July 16th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $164.20.
A number of institutional investors have recently bought and sold shares of AMT. BlackRock Inc. boosted its position in American Tower by 8.9% during the 2nd quarter. BlackRock Inc. now owns 29,362,957 shares of the real estate investment trust’s stock valued at $4,233,258,000 after acquiring an additional 2,410,425 shares in the last quarter. Resolution Capital Ltd boosted its position in American Tower by 291.1% during the 3rd quarter. Resolution Capital Ltd now owns 1,522,702 shares of the real estate investment trust’s stock valued at $187,429,000 after acquiring an additional 1,133,323 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in American Tower during the 2nd quarter valued at approximately $155,992,000. Dimensional Fund Advisors LP boosted its position in American Tower by 13.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,032,192 shares of the real estate investment trust’s stock valued at $869,663,000 after acquiring an additional 713,894 shares in the last quarter. Finally, Putnam Investments LLC boosted its position in American Tower by 19.5% during the 2nd quarter. Putnam Investments LLC now owns 2,710,662 shares of the real estate investment trust’s stock valued at $390,796,000 after acquiring an additional 441,479 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.
American Tower Company Profile
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 170,000 communications sites.
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