American Tower Co. (NYSE:AMT – Get Free Report) CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction of $508,020.33. Following the completion of the transaction, the chief accounting officer now owns 31,873 shares of the company’s stock, valued at $7,424,177.89. The sale was disclosed in a document filed with the SEC, which is available through this link.
American Tower Stock Performance
AMT stock traded up $1.97 during trading on Tuesday, reaching $228.16. The stock had a trading volume of 2,709,109 shares, compared to its average volume of 2,353,240. The firm has a market cap of $106.55 billion, a PE ratio of 51.89, a PEG ratio of 1.65 and a beta of 0.81. The company has a current ratio of 0.81, a quick ratio of 0.85 and a debt-to-equity ratio of 3.42. The stock’s 50 day moving average is $201.82 and its two-hundred day moving average is $194.27. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $236.13.
American Tower (NYSE:AMT – Get Free Report) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.46 earnings per share. As a group, equities analysts anticipate that American Tower Co. will post 10.04 earnings per share for the current year.
American Tower Dividend Announcement
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Allworth Financial LP boosted its stake in shares of American Tower by 7.8% in the fourth quarter. Allworth Financial LP now owns 6,728 shares of the real estate investment trust’s stock worth $1,452,000 after acquiring an additional 484 shares during the period. Meeder Advisory Services Inc. raised its stake in American Tower by 24.2% during the fourth quarter. Meeder Advisory Services Inc. now owns 4,097 shares of the real estate investment trust’s stock valued at $884,000 after purchasing an additional 797 shares in the last quarter. Bleakley Financial Group LLC grew its stake in shares of American Tower by 23.9% in the 4th quarter. Bleakley Financial Group LLC now owns 8,549 shares of the real estate investment trust’s stock worth $1,846,000 after buying an additional 1,648 shares in the last quarter. Grant Street Asset Management Inc. bought a new stake in shares of American Tower in the 4th quarter worth about $231,000. Finally, Moseley Investment Management Inc. purchased a new stake in shares of American Tower during the 4th quarter valued at about $201,000. Institutional investors own 92.69% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on AMT shares. Wells Fargo & Company lifted their target price on shares of American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Raymond James raised American Tower from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $226.00 to $248.00 in a report on Wednesday, May 1st. Barclays lowered their price target on American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Finally, 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 target price on the stock. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $230.42.
Get Our Latest Stock Report on American Tower
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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