American Tower Co. (NYSE:AMT – Get Free Report) EVP Olivier Puech sold 10,005 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the sale, the executive vice president now directly owns 51,746 shares in the company, valued at $12,070,789.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
American Tower Trading Down 1.1 %
Shares of NYSE:AMT opened at $223.58 on Friday. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $236.13. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. The firm has a market cap of $104.41 billion, a P/E ratio of 50.58, a P/E/G ratio of 1.60 and a beta of 0.81. The company has a 50 day moving average of $204.16 and a 200-day moving average of $194.87.
American Tower (NYSE:AMT – Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.46 earnings per share. As a group, analysts anticipate that American Tower Co. will post 10.04 earnings per share for the current fiscal year.
American Tower Announces Dividend
Hedge Funds Weigh In On American Tower
Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in American Tower by 1.6% in the first quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock worth $12,248,812,000 after buying an additional 965,938 shares during the last quarter. Cohen & Steers Inc. lifted its holdings in shares of American Tower by 3.7% during the fourth quarter. Cohen & Steers Inc. now owns 16,440,715 shares of the real estate investment trust’s stock valued at $3,549,366,000 after purchasing an additional 583,892 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of American Tower by 21.9% in the 4th quarter. Wellington Management Group LLP now owns 15,823,622 shares of the real estate investment trust’s stock valued at $3,416,004,000 after purchasing an additional 2,839,570 shares during the period. Principal Financial Group Inc. increased its stake in American Tower by 36.2% in the 1st quarter. Principal Financial Group Inc. now owns 8,794,776 shares of the real estate investment trust’s stock worth $1,737,760,000 after purchasing an additional 2,336,501 shares in the last quarter. Finally, Akre Capital Management LLC raised its holdings in American Tower by 0.5% during the 4th quarter. Akre Capital Management LLC now owns 6,804,599 shares of the real estate investment trust’s stock worth $1,468,977,000 after buying an additional 36,375 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.
Analyst Upgrades and Downgrades
AMT has been the topic of several research reports. Raymond James upgraded shares of American Tower from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $226.00 to $248.00 in a research note on Wednesday, May 1st. The Goldman Sachs Group initiated coverage on American Tower in a report on Monday, July 1st. They issued a “buy” rating and a $230.00 price target on the stock. BMO Capital Markets restated an “outperform” rating and set a $246.00 price objective (up from $225.00) on shares of American Tower in a research note on Wednesday, July 31st. Morgan Stanley raised their target price on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Finally, Barclays lowered their price target on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $230.42.
Read Our Latest Stock Report on AMT
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 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.
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