American Tower Corp (NYSE:AMT) Director David E. Sharbutt sold 973 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $255.27, for a total value of $248,377.71. Following the sale, the director now directly owns 763 shares of the company’s stock, valued at $194,771.01. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
NYSE AMT traded down $0.46 during mid-day trading on Wednesday, hitting $263.29. The stock had a trading volume of 2,316,153 shares, compared to its average volume of 2,058,583. American Tower Corp has a 52-week low of $174.32 and a 52-week high of $272.20. The company has a market cap of $116.79 billion, a price-to-earnings ratio of 61.54, a P/E/G ratio of 2.21 and a beta of 0.38. The company has a 50 day simple moving average of $252.74 and a 200 day simple moving average of $246.67. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 5.38.
American Tower (NYSE:AMT) last released its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.99). American Tower had a net margin of 24.70% and a return on equity of 39.62%. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same period in the previous year, the business earned $2.01 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities analysts anticipate that American Tower Corp will post 8 earnings per share for the current fiscal year.
A number of research firms have weighed in on AMT. Morgan Stanley increased their price objective on American Tower from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Barclays assumed coverage on American Tower in a report on Wednesday, July 15th. They issued an “overweight” rating and a $296.00 price target for the company. Credit Suisse Group reissued a “buy” rating and issued a $300.00 price target on shares of American Tower in a report on Friday, July 31st. Deutsche Bank assumed coverage on American Tower in a report on Friday, June 5th. They issued a “buy” rating and a $287.00 price target for the company. Finally, Wells Fargo & Company reduced their price target on American Tower from $290.00 to $285.00 and set an “overweight” rating for the company in a report on Wednesday. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $272.69.
A number of institutional investors have recently added to or reduced their stakes in AMT. Fisher Asset Management LLC purchased a new position in American Tower during the second quarter worth $455,454,000. BlackRock Inc. grew its position in shares of American Tower by 5.2% in the second quarter. BlackRock Inc. now owns 32,875,452 shares of the real estate investment trust’s stock valued at $8,499,618,000 after purchasing an additional 1,636,978 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of American Tower by 73.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,811,329 shares of the real estate investment trust’s stock valued at $985,381,000 after purchasing an additional 1,619,316 shares during the period. Brookfield Asset Management Inc. purchased a new stake in shares of American Tower in the second quarter valued at $283,036,000. Finally, Cohen & Steers Inc. grew its position in shares of American Tower by 10.6% in the first quarter. Cohen & Steers Inc. now owns 9,985,028 shares of the real estate investment trust’s stock valued at $2,174,240,000 after purchasing an additional 953,901 shares during the period. 90.60% of the stock is owned by institutional investors.
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 171,000 communications sites.
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