American Tower Corp (AMT) Director Joann A. Reed Sells 7,400 Shares

American Tower Corp (NYSE:AMT) Director Joann A. Reed sold 7,400 shares of the stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $126.87, for a total transaction of $938,838.00. Following the completion of the sale, the director now directly owns 37,758 shares of the company’s stock, valued at $4,790,357.46. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

American Tower Corp (NYSE:AMT) last issued its earnings results on Thursday, April 27th. The real estate investment trust reported $0.67 EPS for the quarter, missing the consensus estimate of $1.51 by $0.84. American Tower Corp had a return on equity of 14.05% and a net margin of 17.37%. The company had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the business earned $0.58 EPS. The firm’s revenue for the quarter was up 25.4% compared to the same quarter last year.

Insider Buying and Selling by Quarter for American Tower Corp (NYSE:AMT)

The business also recently announced a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Wednesday, April 12th were paid a $0.62 dividend. The ex-dividend date was Monday, April 10th. This represents a $2.48 annualized dividend and a yield of 1.93%. This is an increase from American Tower Corp’s previous quarterly dividend of $0.58. American Tower Corp’s dividend payout ratio (DPR) is currently 117.17%.

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A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of American Tower Corp from a “sell” rating to a “hold” rating in a research note on Wednesday, March 1st. Pacific Crest increased their price objective on shares of American Tower Corp to $132.00 in a research note on Wednesday, March 22nd. Jefferies Group LLC restated a “buy” rating and issued a $136.00 price objective on shares of American Tower Corp in a research note on Monday, April 3rd. Guggenheim upgraded shares of American Tower Corp from a “neutral” rating to a “buy” rating and increased their price objective for the company from $117.00 to $135.00 in a research note on Monday, April 10th. Finally, Royal Bank of Canada increased their price objective on shares of American Tower Corp from $134.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, April 28th. Ten investment analysts have rated the stock with a buy rating, American Tower Corp has an average rating of “Buy” and a consensus target price of $134.67.

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of American Tower Corp during the fourth quarter worth about $178,214,000. Wellington Management Group LLP increased its stake in shares of American Tower Corp by 8.4% in the first quarter. Wellington Management Group LLP now owns 21,788,278 shares of the real estate investment trust’s stock worth $2,648,146,000 after buying an additional 1,679,615 shares during the period. American Century Companies Inc. increased its stake in shares of American Tower Corp by 60.8% in the first quarter. American Century Companies Inc. now owns 3,986,977 shares of the real estate investment trust’s stock worth $484,577,000 after buying an additional 1,507,172 shares during the period. Janus Capital Management LLC increased its stake in shares of American Tower Corp by 18.3% in the fourth quarter. Janus Capital Management LLC now owns 7,007,311 shares of the real estate investment trust’s stock worth $740,579,000 after buying an additional 1,084,942 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of American Tower Corp by 3.8% in the first quarter. Vanguard Group Inc. now owns 27,561,482 shares of the real estate investment trust’s stock worth $3,349,823,000 after buying an additional 1,008,946 shares during the period. Institutional investors and hedge funds own 93.07% of the company’s stock.

About American Tower Corp

American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

12 Month Chart for NYSE:AMT

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