Insider Selling: American Tower Corp (AMT) Director Sells 100 Shares of Stock

American Tower Corp (NYSE:AMT) Director Robert D. Hormats sold 100 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $198.20, for a total value of $19,820.00. Following the transaction, the director now directly owns 5,870 shares of the company’s stock, valued at $1,163,434. The sale was disclosed in a filing with the SEC, which is available at this link.

NYSE AMT traded up $0.41 during mid-day trading on Friday, hitting $202.43. The stock had a trading volume of 1,421,363 shares, compared to its average volume of 1,255,735. American Tower Corp has a 52-week low of $134.87 and a 52-week high of $203.38. The company has a market capitalization of $89.30 billion, a P/E ratio of 25.34, a PEG ratio of 1.65 and a beta of 0.66. The company has a debt-to-equity ratio of 4.31, a current ratio of 0.50 and a quick ratio of 0.50.

American Tower (NYSE:AMT) last released its quarterly earnings data on Friday, May 3rd. The real estate investment trust reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.04. American Tower had a return on equity of 22.61% and a net margin of 17.95%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the business posted $0.63 EPS. American Tower’s quarterly revenue was up 4.1% on a year-over-year basis. On average, research analysts expect that American Tower Corp will post 7.51 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Thursday, April 11th were paid a $0.90 dividend. This is an increase from American Tower’s previous quarterly dividend of $0.84. This represents a $3.60 annualized dividend and a yield of 1.78%. The ex-dividend date was Wednesday, April 10th. American Tower’s dividend payout ratio (DPR) is presently 45.06%.

A number of equities analysts have recently issued reports on AMT shares. KeyCorp increased their target price on American Tower from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 12th. Oppenheimer reissued a “market perform” rating and set a $173.00 target price on shares of American Tower in a research note on Thursday, February 28th. They noted that the move was a valuation call. Wells Fargo & Co increased their target price on American Tower from $176.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, February 28th. Macquarie reissued a “buy” rating and set a $210.00 target price on shares of American Tower in a research note on Thursday, February 28th. Finally, CIBC reissued a “market perform” rating on shares of American Tower in a research note on Thursday, February 28th. Twelve analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. American Tower has an average rating of “Hold” and an average price target of $180.44.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMT. Oregon Public Employees Retirement Fund increased its stake in American Tower by 15,525.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,579,832 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 7,531,324 shares in the last quarter. FMR LLC increased its stake in American Tower by 32.6% in the 4th quarter. FMR LLC now owns 20,144,710 shares of the real estate investment trust’s stock valued at $3,186,692,000 after purchasing an additional 4,949,323 shares in the last quarter. Vanguard Group Inc increased its position in American Tower by 6.7% during the third quarter. Vanguard Group Inc now owns 56,635,438 shares of the real estate investment trust’s stock worth $8,229,130,000 after buying an additional 3,579,249 shares in the last quarter. Norges Bank purchased a new position in American Tower during the fourth quarter worth $546,909,000. Finally, Jennison Associates LLC increased its position in American Tower by 203.6% during the fourth quarter. Jennison Associates LLC now owns 2,881,240 shares of the real estate investment trust’s stock worth $455,783,000 after buying an additional 1,932,136 shares in the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

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American Tower Company Profile

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

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