American Tower Co. (AMT) EVP Sells 32,943 Shares of Stock

American Tower Co. (NYSE:AMT) EVP Amit Sharma sold 32,943 shares of the stock in a transaction that occurred on Monday, April 16th. The stock was sold at an average price of $138.82, for a total transaction of $4,573,147.26. Following the sale, the executive vice president now owns 111,558 shares in the company, valued at approximately $15,486,481.56. The transaction was disclosed in a document filed with the SEC, which is available at this link.

American Tower stock traded down $1.21 during mid-day trading on Wednesday, reaching $139.81. The company had a trading volume of 1,773,119 shares, compared to its average volume of 2,772,809. American Tower Co. has a fifty-two week low of $122.73 and a fifty-two week high of $155.28. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $61,066.68, a P/E ratio of 21.91, a P/E/G ratio of 1.56 and a beta of 0.78.

How to Become a New Pot Stock Millionaire

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.04). American Tower had a net margin of 18.31% and a return on equity of 17.20%. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the prior year, the business earned $1.52 EPS. The business’s quarterly revenue was up 10.7% on a year-over-year basis. analysts expect that American Tower Co. will post 7.09 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Wednesday, April 11th will be given a $0.75 dividend. The ex-dividend date is Tuesday, April 10th. This represents a $3.00 dividend on an annualized basis and a yield of 2.15%. This is a positive change from American Tower’s previous quarterly dividend of $0.70. American Tower’s dividend payout ratio (DPR) is currently 47.02%.

Several analysts recently issued reports on AMT shares. Oppenheimer increased their price target on shares of American Tower from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 20th. KeyCorp set a $171.00 price target on shares of American Tower and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Citigroup reduced their price target on shares of American Tower from $162.00 to $161.00 and set a “buy” rating on the stock in a research report on Tuesday, March 27th. Zacks Investment Research lowered shares of American Tower from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Finally, Morgan Stanley reduced their price target on shares of American Tower from $161.00 to $157.00 and set an “overweight” rating on the stock in a research report on Friday, March 16th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. American Tower has a consensus rating of “Buy” and a consensus price target of $160.38.

Institutional investors have recently modified their holdings of the business. LVM Capital Management Ltd. MI boosted its position in American Tower by 11.6% in the fourth quarter. LVM Capital Management Ltd. MI now owns 57,741 shares of the real estate investment trust’s stock valued at $8,238,000 after buying an additional 5,986 shares in the last quarter. Chemical Bank raised its stake in shares of American Tower by 50.6% during the fourth quarter. Chemical Bank now owns 3,235 shares of the real estate investment trust’s stock valued at $461,000 after acquiring an additional 1,087 shares during the last quarter. TRUE Private Wealth Advisors raised its stake in shares of American Tower by 148.0% during the fourth quarter. TRUE Private Wealth Advisors now owns 5,257 shares of the real estate investment trust’s stock valued at $753,000 after acquiring an additional 3,137 shares during the last quarter. Westpac Banking Corp raised its stake in shares of American Tower by 5.7% during the fourth quarter. Westpac Banking Corp now owns 124,810 shares of the real estate investment trust’s stock valued at $17,807,000 after acquiring an additional 6,682 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of American Tower by 1.8% during the fourth quarter. US Bancorp DE now owns 825,926 shares of the real estate investment trust’s stock valued at $117,835,000 after acquiring an additional 14,440 shares during the last quarter. Hedge funds and other institutional investors own 89.98% of the company’s stock.

TRADEMARK VIOLATION WARNING: “American Tower Co. (AMT) EVP Sells 32,943 Shares of Stock” was originally reported by Week Herald and is the property of of Week Herald. If you are reading this story on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://weekherald.com/2018/04/18/american-tower-co-amt-evp-sells-32943-shares-of-stock.html.

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 over 150,000 communications sites. For more information about American Tower, please visit the ?Earnings Materials? and ?Company & Industry Resources? sections of our investor relations website at www.americantower.com.

Insider Buying and Selling by Quarter for American Tower (NYSE:AMT)

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply