American Tower Corp (NYSE:AMT) SVP Robert Joseph Meyer, Jr. sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $206.78, for a total value of $206,780.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of AMT stock opened at $205.87 on Friday. The business’s fifty day moving average price is $220.99 and its 200 day moving average price is $213.42. American Tower Corp has a 1-year low of $150.66 and a 1-year high of $242.00. The firm has a market capitalization of $91.20 billion, a PE ratio of 25.77, a P/E/G ratio of 1.65 and a beta of 0.43. The company has a debt-to-equity ratio of 4.40, a current ratio of 0.53 and a quick ratio of 0.53.
American Tower (NYSE:AMT) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.17. American Tower had a return on equity of 27.12% and a net margin of 20.58%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the company posted $1.85 earnings per share. American Tower’s quarterly revenue was up 9.5% on a year-over-year basis. Equities research analysts expect that American Tower Corp will post 7.65 earnings per share for the current fiscal year.
AMT has been the subject of several recent analyst reports. Morgan Stanley boosted their target price on American Tower from $201.00 to $216.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. boosted their price objective on American Tower from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. SunTrust Banks boosted their price objective on American Tower to $230.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Cowen boosted their price objective on American Tower from $238.00 to $260.00 and gave the company an “in-line” rating in a research note on Friday, November 1st. Finally, ValuEngine cut American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. American Tower presently has an average rating of “Hold” and a consensus target price of $215.79.
A number of hedge funds have recently made changes to their positions in AMT. Northwest Investment Counselors LLC acquired a new position in American Tower during the third quarter worth $25,000. Nelson Roberts Investment Advisors LLC acquired a new position in American Tower during the second quarter worth $27,000. Next Capital Management LLC acquired a new position in American Tower during the second quarter worth $31,000. NewSquare Capital LLC boosted its position in American Tower by 192.3% during the second quarter. NewSquare Capital LLC now owns 152 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 100 shares in the last quarter. Finally, CX Institutional boosted its position in American Tower by 54.9% during the second quarter. CX Institutional now owns 158 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 56 shares in the last quarter. 92.54% of the stock is currently owned by hedge funds and other institutional investors.
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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