American Tower Co. (NYSE:AMT) Director Sells $128,450.00 in Stock

American Tower Co. (NYSE:AMT) Director Robert D. Hormats sold 700 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the transaction, the director now owns 7,332 shares in the company, valued at approximately $1,345,422. The transaction was disclosed in a document filed with the SEC, which is available at this link.

American Tower Trading Up 0.0 %

Shares of NYSE AMT opened at $181.33 on Thursday. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10. The company has a market cap of $84.56 billion, a PE ratio of 41.02, a P/E/G ratio of 1.43 and a beta of 0.71. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.39. The company has a 50-day moving average of $188.86 and a two-hundred day moving average of $195.09.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same period in the prior year, the firm posted $2.54 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. As a group, equities analysts expect that American Tower Co. will post 9.96 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Thursday, April 11th. American Tower’s dividend payout ratio is presently 146.61%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AMT shares. BMO Capital Markets dropped their target price on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Morgan Stanley lifted their target price on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Mizuho initiated coverage on shares of American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price on the stock. Finally, Barclays boosted their price objective on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $221.91.

Institutional Investors Weigh In On American Tower

A number of institutional investors and hedge funds have recently modified their holdings of AMT. Lindbrook Capital LLC raised its stake in shares of American Tower by 5.0% during the third quarter. Lindbrook Capital LLC now owns 2,266 shares of the real estate investment trust’s stock worth $373,000 after buying an additional 108 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in shares of American Tower by 18.4% during the third quarter. Verdence Capital Advisors LLC now owns 2,063 shares of the real estate investment trust’s stock worth $339,000 after buying an additional 320 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of American Tower by 3.2% during the third quarter. Mackenzie Financial Corp now owns 215,248 shares of the real estate investment trust’s stock worth $34,031,000 after buying an additional 6,612 shares during the last quarter. Value Partners Investments Inc. raised its stake in shares of American Tower by 2.0% during the third quarter. Value Partners Investments Inc. now owns 31,073 shares of the real estate investment trust’s stock worth $5,114,000 after buying an additional 606 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of American Tower by 2.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 143,516 shares of the real estate investment trust’s stock worth $23,601,000 after buying an additional 3,425 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

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.