American Tower Corp (NYSE:AMT) EVP Steven O. Vondran sold 1,388 shares of American Tower stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $259.50, for a total value of $360,186.00. Following the transaction, the executive vice president now directly owns 24,386 shares in the company, valued at $6,328,167. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of NYSE AMT opened at $264.21 on Friday. American Tower Corp has a one year low of $174.32 and a one year high of $269.25. The firm has a market capitalization of $117.13 billion, a PE ratio of 61.88, a PEG ratio of 2.24 and a beta of 0.45. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 5.40. The business has a 50-day moving average price of $253.48 and a two-hundred day moving average price of $239.16.
American Tower (NYSE:AMT) last announced its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.93 EPS for the quarter, missing the Zacks’ consensus estimate of $1.05 by ($0.12). American Tower had a return on equity of 35.63% and a net margin of 24.55%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the previous year, the business posted $1.84 earnings per share. The company’s revenue was up 9.9% compared to the same quarter last year. Research analysts anticipate that American Tower Corp will post 8 EPS for the current year.
A number of research firms recently issued reports on AMT. Deutsche Bank began coverage on American Tower in a report on Friday, June 5th. They set a “buy” rating and a $287.00 target price on the stock. UBS Group raised American Tower from a “neutral” rating to a “buy” rating and set a $270.00 price target on the stock in a research note on Thursday, April 2nd. Credit Suisse Group reissued a “buy” rating and issued a $300.00 price target on shares of American Tower in a research note on Monday, June 15th. Wells Fargo & Co lifted their price target on American Tower from $265.00 to $272.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, New Street Research raised American Tower from a “neutral” rating to a “buy” rating in a research note on Thursday, March 12th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. American Tower has an average rating of “Buy” and an average target price of $261.86.
Institutional investors have recently made changes to their positions in the company. MCF Advisors LLC acquired a new stake in shares of American Tower during the 1st quarter valued at about $27,000. Brooktree Capital Management acquired a new stake in shares of American Tower during the 4th quarter valued at about $29,000. John W. Brooker & Co. CPAs acquired a new stake in shares of American Tower during the 1st quarter valued at about $32,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of American Tower during the 4th quarter valued at about $34,000. Finally, Modus Advisors LLC acquired a new stake in shares of American Tower during the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 91.12% of the company’s stock.
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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