American Tower Corp (AMT) Director Sells $19,820.00 in Stock

American Tower Corp (NYSE:AMT) Director Robert D. Hormats sold 100 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $198.20, for a total value of $19,820.00. Following the completion of the transaction, the director now directly owns 5,870 shares in the company, valued at $1,163,434. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

NYSE:AMT traded up $0.41 during mid-day trading on Friday, hitting $202.43. The company had a trading volume of 1,421,363 shares, compared to its average volume of 1,255,735. The company has a debt-to-equity ratio of 4.31, a current ratio of 0.50 and a quick ratio of 0.50. American Tower Corp has a 1 year low of $134.87 and a 1 year high of $203.38. The firm has a market capitalization of $89.48 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 1.65 and a beta of 0.66.

American Tower (NYSE:AMT) last released its quarterly earnings data on Friday, May 3rd. The real estate investment trust reported $1.84 EPS for the quarter, beating the consensus estimate of $1.80 by $0.04. American Tower had a return on equity of 22.61% and a net margin of 17.95%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the company posted $0.63 earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year. Equities analysts anticipate that American Tower Corp will post 7.51 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Thursday, April 11th were given a $0.90 dividend. The ex-dividend date was Wednesday, April 10th. This is a positive change from American Tower’s previous quarterly dividend of $0.84. This represents a $3.60 annualized dividend and a yield of 1.78%. American Tower’s dividend payout ratio (DPR) is 45.06%.

A number of large investors have recently added to or reduced their stakes in the business. Quantamental Technologies LLC purchased a new stake in shares of American Tower during the fourth quarter worth about $25,000. Canton Hathaway LLC purchased a new stake in shares of American Tower during the first quarter worth about $26,000. Lavaca Capital LLC purchased a new stake in shares of American Tower during the fourth quarter worth about $27,000. Acima Private Wealth LLC purchased a new stake in shares of American Tower during the fourth quarter worth about $27,000. Finally, WESPAC Advisors SoCal LLC purchased a new stake in shares of American Tower during the fourth quarter worth about $27,000. 94.84% of the stock is currently owned by institutional investors.

Several brokerages recently weighed in on AMT. KeyCorp increased their target price on American Tower from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 12th. Royal Bank of Canada increased their target price on American Tower from $195.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. SunTrust Banks increased their target price on American Tower to $210.00 and gave the stock a “positive” rating in a research report on Monday, May 6th. Edward Jones lowered American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. Finally, Macquarie reaffirmed a “buy” rating and issued a $210.00 target price on shares of American Tower in a research report on Thursday, February 28th. Twelve analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $180.44.

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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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