American Tower Co. (NYSE:AMT – Get Rating) CFO Rodney M. Smith sold 25,389 shares of the business’s stock in a transaction on Thursday, April 21st. The shares were sold at an average price of $270.00, for a total value of $6,855,030.00. Following the completion of the sale, the chief financial officer now owns 52,398 shares of the company’s stock, valued at $14,147,460. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
AMT traded down $2.38 during trading on Monday, hitting $259.52. The stock had a trading volume of 1,650,796 shares, compared to its average volume of 2,021,808. American Tower Co. has a twelve month low of $220.00 and a twelve month high of $303.72. The stock has a 50 day simple moving average of $243.99 and a two-hundred day simple moving average of $258.62. The company has a debt-to-equity ratio of 4.27, a quick ratio of 0.53 and a current ratio of 0.53. The company has a market capitalization of $118.31 billion, a PE ratio of 46.19, a PEG ratio of 2.15 and a beta of 0.48.
American Tower (NYSE:AMT – Get Rating) last released its quarterly earnings data on Wednesday, February 23rd. The real estate investment trust reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.16). American Tower had a net margin of 27.44% and a return on equity of 34.57%. The firm had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the firm posted $2.07 EPS. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. On average, equities research analysts anticipate that American Tower Co. will post 9.78 EPS for the current year.
AMT has been the topic of a number of research reports. TheStreet lowered American Tower from a “b” rating to a “c+” rating in a research report on Thursday, February 24th. Wells Fargo & Company upped their price target on American Tower from $250.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, March 11th. Deutsche Bank Aktiengesellschaft dropped their price target on American Tower from $288.00 to $260.00 and set a “hold” rating on the stock in a research note on Monday, February 28th. Barclays lowered their price objective on American Tower from €295.00 ($317.20) to €284.00 ($305.38) in a research note on Friday, March 18th. Finally, StockNews.com started coverage on American Tower in a research report on Thursday, March 31st. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, American Tower has an average rating of “Hold” and a consensus target price of $288.29.
Several institutional investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its holdings in shares of American Tower by 5.1% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 154,314 shares of the real estate investment trust’s stock valued at $40,955,000 after buying an additional 7,446 shares in the last quarter. Oxbow Advisors LLC raised its position in American Tower by 3.6% during the 3rd quarter. Oxbow Advisors LLC now owns 31,886 shares of the real estate investment trust’s stock worth $8,463,000 after buying an additional 1,106 shares during the last quarter. IndexIQ Advisors LLC increased its holdings in shares of American Tower by 7.5% in the 3rd quarter. IndexIQ Advisors LLC now owns 7,870 shares of the real estate investment trust’s stock valued at $2,089,000 after purchasing an additional 551 shares in the last quarter. LPL Financial LLC increased its holdings in shares of American Tower by 13.0% in the 3rd quarter. LPL Financial LLC now owns 172,154 shares of the real estate investment trust’s stock valued at $45,692,000 after purchasing an additional 19,784 shares in the last quarter. Finally, US Asset Management LLC acquired a new position in American Tower during the third quarter worth about $1,023,000. 89.98% of the stock is currently owned by institutional investors and hedge funds.
About American Tower (Get Rating)
American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the ÂEarnings MaterialsÂ and ÂInvestor PresentationsÂ sections of our investor relations website at www.americantower.com.
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