American Tower Co. (NYSE:AMT – Get Free Report) Director Robert D. Hormats sold 700 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the sale, the director now owns 7,332 shares of the company’s stock, valued at $1,345,422. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
American Tower Stock Up 1.5 %
Shares of American Tower stock opened at $181.35 on Wednesday. The stock has a market capitalization of $84.57 billion, a PE ratio of 41.03, a price-to-earnings-growth ratio of 1.43 and a beta of 0.71. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.85 and a current ratio of 0.85. The company has a 50-day simple moving average of $188.86 and a two-hundred day simple moving average of $195.09. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $219.10.
American Tower (NYSE:AMT – Get Free Report) last issued its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). The business had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.54 earnings per share. On average, analysts anticipate that American Tower Co. will post 9.96 EPS for the current fiscal year.
American Tower Cuts Dividend
Wall Street Analysts Forecast Growth
Several research firms have weighed in on AMT. Barclays increased their price objective on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Mizuho began coverage on shares of American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target for the company. Morgan Stanley lifted their price objective on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Scotiabank decreased their target price on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. decreased their price objective on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and a consensus target price of $221.91.
Get Our Latest Analysis on American Tower
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the stock. Northwest Investment Counselors LLC purchased a new stake in American Tower during the 1st quarter valued at $25,000. McClarren Financial Advisors Inc. bought a new position in American Tower in the third quarter valued at about $27,000. Gold Investment Management Ltd. bought a new stake in shares of American Tower during the 4th quarter valued at about $28,000. Emerald Advisers LLC purchased a new stake in shares of American Tower during the 3rd quarter valued at about $29,000. Finally, Thompson Investment Management Inc. bought a new position in shares of American Tower in the 4th quarter worth approximately $29,000. 92.69% of the stock is 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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.
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