American Tower Corp (NYSE:AMT) Director Craig Macnab Sells 5,953 Shares

American Tower Corp (NYSE:AMT) Director Craig Macnab sold 5,953 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $225.46, for a total transaction of $1,342,163.38. Following the completion of the transaction, the director now directly owns 14,341 shares in the company, valued at $3,233,321.86. The sale was disclosed in a document filed with the SEC, which is available at this link.

AMT traded up $1.43 during trading on Friday, reaching $229.94. The company’s stock had a trading volume of 44,136 shares, compared to its average volume of 1,764,246. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 4.13. The firm has a fifty day simple moving average of $213.55 and a two-hundred day simple moving average of $198.93. American Tower Corp has a 1 year low of $140.40 and a 1 year high of $228.78. The company has a market cap of $99.85 billion, a price-to-earnings ratio of 28.78, a PEG ratio of 1.83 and a beta of 0.50.

American Tower (NYSE:AMT) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.87 by ($0.91). The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.83 billion. American Tower had a return on equity of 24.75% and a net margin of 19.30%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the business earned $1.74 earnings per share. As a group, equities analysts forecast that American Tower Corp will post 7.66 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of American Tower by 4.0% during the 2nd quarter. BlackRock Inc. now owns 31,549,686 shares of the real estate investment trust’s stock worth $6,450,332,000 after buying an additional 1,213,664 shares during the last quarter. Natixis increased its holdings in American Tower by 24.5% in the 2nd quarter. Natixis now owns 5,844 shares of the real estate investment trust’s stock valued at $1,195,000 after purchasing an additional 1,151 shares during the last quarter. Headinvest LLC increased its holdings in American Tower by 10.9% in the 2nd quarter. Headinvest LLC now owns 2,789 shares of the real estate investment trust’s stock valued at $570,000 after purchasing an additional 275 shares during the last quarter. Transamerica Financial Advisors Inc. acquired a new stake in American Tower in the 2nd quarter valued at approximately $607,000. Finally, NewSquare Capital LLC increased its holdings in American Tower by 192.3% in the 2nd quarter. NewSquare Capital LLC now owns 152 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 93.22% of the company’s stock.

A number of research firms have weighed in on AMT. JPMorgan Chase & Co. raised their target price on shares of American Tower from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Royal Bank of Canada raised their target price on shares of American Tower from $195.00 to $203.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Zacks Investment Research raised shares of American Tower from a “hold” rating to a “buy” rating and set a $237.00 target price on the stock in a research note on Tuesday. KeyCorp raised their target price on shares of American Tower from $225.00 to $253.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Morgan Stanley raised their target price on shares of American Tower from $185.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Monday, May 20th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $202.27.

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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