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.
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.
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.
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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.
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