American Tower Corp (NYSE:AMT) SVP Robert Joseph Meyer, Jr. Sells 1,000 Shares

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.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Friday, September 27th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Thursday, September 26th. This is a positive change from American Tower’s previous quarterly dividend of $0.92. American Tower’s dividend payout ratio is currently 47.56%.

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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