James D. Taiclet, Jr. Sells 40,625 Shares of American Tower Corp. (AMT) Stock
American Tower Corp. (NYSE:AMT) Chairman James D. Taiclet, Jr. sold 40,625 shares of American Tower Corp. stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $108.80, for a total value of $4,420,000.00. Following the transaction, the chairman now directly owns 226,517 shares in the company, valued at approximately $24,645,049.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
American Tower Corp. (NYSE:AMT) opened at 112.28 on Friday. The firm has a market capitalization of $47.77 billion, a price-to-earnings ratio of 69.70 and a beta of 0.57. The stock’s 50 day moving average price is $113.50 and its 200-day moving average price is $108.81. American Tower Corp. has a one year low of $83.07 and a one year high of $118.26.
American Tower Corp. (NYSE:AMT) last released its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $1.33 EPS for the quarter, missing the Zacks’ consensus estimate of $1.36 by $0.03. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.44 billion. American Tower Corp. had a return on equity of 11.73% and a net margin of 15.21%. The company’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.26 EPS. On average, equities research analysts expect that American Tower Corp. will post $5.70 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.96%. This is a positive change from American Tower Corp.’s previous quarterly dividend of $0.53. American Tower Corp.’s dividend payout ratio (DPR) is currently 131.68%.
Several brokerages have recently issued reports on AMT. Jefferies Group reiterated a “buy” rating on shares of American Tower Corp. in a report on Saturday, August 6th. Citigroup Inc. lifted their price target on American Tower Corp. from $121.00 to $134.00 and gave the company a “buy” rating in a report on Monday, July 11th. Deutsche Bank AG reiterated a “buy” rating and set a $117.00 price target on shares of American Tower Corp. in a report on Tuesday, May 31st. Argus lifted their price target on American Tower Corp. from $120.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. Finally, SunTrust Banks Inc. began coverage on American Tower Corp. in a report on Monday, September 12th. They set a “buy” rating and a $128.00 price target for the company. Two analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $120.59.
Several large investors have recently added to or reduced their stakes in the company. Motley Fool Wealth Management LLC raised its stake in American Tower Corp. by 1.2% in the first quarter. Motley Fool Wealth Management LLC now owns 118,157 shares of the real estate investment trust’s stock worth $12,096,000 after buying an additional 1,446 shares in the last quarter. Virginia Retirement System acquired a new stake in American Tower Corp. during the first quarter worth approximately $703,000. Mn Services Vermogensbeheer B.V. acquired a new stake in American Tower Corp. during the first quarter worth approximately $951,000. Aperio Group LLC raised its stake in American Tower Corp. by 2.3% in the first quarter. Aperio Group LLC now owns 190,549 shares of the real estate investment trust’s stock worth $19,507,000 after buying an additional 4,264 shares in the last quarter. Finally, Telemus Capital LLC raised its stake in American Tower Corp. by 33.2% in the first quarter. Telemus Capital LLC now owns 29,164 shares of the real estate investment trust’s stock worth $2,986,000 after buying an additional 7,275 shares in the last quarter. 94.23% of the stock is currently owned by institutional investors.
American Tower Corp. Company Profile
American Tower Corporation is a holding company. The company owns, operates and develops wireless and broadcast communications real estate. Its primary business is leasing antenna space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data and data providers, government agencies and municipalities.
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