American Tower Corporation (NYSE:AMT - Get Free Report) CFO Robert Joseph Meyer sold 5,000 shares of the business's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total value of $894,450.00. Following the sale, the chief financial officer owned 21,428 shares in the company, valued at approximately $3,833,254.92. The trade was a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
American Tower Stock Performance
American Tower stock opened at $173.82 on Friday. The firm's 50 day simple moving average is $175.87 and its 200 day simple moving average is $178.39. The company has a current ratio of 0.52, a quick ratio of 0.43 and a debt-to-equity ratio of 3.12. The firm has a market capitalization of $80.98 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 2.80 and a beta of 0.91. American Tower Corporation has a 1-year low of $160.06 and a 1-year high of $217.39.
American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $1.24. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.66 billion. American Tower had a return on equity of 32.76% and a net margin of 31.08%.The firm's quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company earned $2.75 earnings per share. As a group, analysts expect that American Tower Corporation will post 10.66 earnings per share for the current fiscal year.
American Tower Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were issued a dividend of $1.79 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $7.16 annualized dividend and a dividend yield of 4.1%. American Tower's payout ratio is presently 98.49%.
Analysts Set New Price Targets
Several analysts have recently weighed in on AMT shares. Weiss Ratings upgraded shares of American Tower from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, July 14th. BMO Capital Markets upped their target price on shares of American Tower from $190.00 to $195.00 and gave the stock a "market perform" rating in a research report on Wednesday. Sanford C. Bernstein reissued an "outperform" rating and issued a $214.00 target price on shares of American Tower in a research note on Wednesday. Wolfe Research upgraded American Tower from a "peer perform" rating to an "outperform" rating and set a $188.00 price target on the stock in a research report on Wednesday, July 8th. Finally, Truist Financial lifted their price target on American Tower from $205.00 to $208.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $215.19.
Read Our Latest Stock Report on AMT
American Tower News Roundup
Here are the key news stories impacting American Tower this week:
- Positive Sentiment: Analysts raised their valuation expectations for American Tower. One firm lifted its price target to $220, while BMO Capital Markets increased its target to $195, suggesting potential upside from recent trading levels. American Tower Price Target Raised to $220 BMO Raises American Tower Price Target
- Positive Sentiment: American Tower’s latest results were stronger than expected, with revenue up 6.8% year over year to $2.74 billion and EPS of $2.84 versus the $1.60 consensus estimate. Record CoreSite data-center leasing and continued demand from cloud and artificial-intelligence infrastructure provide additional growth support.
- Neutral Sentiment: EVP Ruth Dowling sold 1,791 shares across two transactions for approximately $309,641 under a pre-arranged Rule 10b5-1 plan. Because the sales were scheduled and she retained a sizable stake, the transactions are a limited signal about management’s outlook. SEC Insider Trading Filing
- Negative Sentiment: CFO Robert Joseph Meyer sold 5,000 shares worth approximately $894,450, reducing his ownership by 18.92%. Although the sale does not necessarily indicate deteriorating fundamentals, the larger transaction may weigh on investor sentiment. CFO SEC Insider Trading Filing
- Negative Sentiment: American Tower remains highly leveraged, with a debt-to-equity ratio of 3.12, making it sensitive to higher interest rates. Rising borrowing costs can pressure REIT valuations and reduce the appeal of its approximately 4.1% dividend yield.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. Oakworth Capital Inc. increased its stake in shares of American Tower by 90.7% in the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock worth $25,000 after buying an additional 68 shares during the period. Richards Merrill & Peterson Inc. purchased a new stake in American Tower during the 4th quarter valued at $25,000. Swiss RE Ltd. bought a new stake in American Tower in the 4th quarter worth $25,000. Triumph Capital Management purchased a new position in shares of American Tower in the third quarter valued at about $29,000. Finally, Acumen Wealth Advisors LLC purchased a new position in shares of American Tower in the fourth quarter valued at about $29,000. Institutional investors own 92.69% of the company's stock.
About American Tower
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Get Free Report)
American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company's core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.
Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.
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