Robert D. Hormats Sells 200 Shares of American Tower Co. (NYSE:AMT) Stock

American Tower Co. (NYSE:AMT – Get Rating) Director Robert D. Hormats sold 200 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $235.40, for a total value of $47,080.00. Following the completion of the sale, the director now directly owns 6,721 shares in the company, valued at $1,582,123.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

NYSE:AMT traded up $1.99 on Friday, reaching $236.17. The company’s stock had a trading volume of 4,291,808 shares, compared to its average volume of 2,099,391. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 4.12. The firm has a market cap of $109.75 billion, a price-to-earnings ratio of 40.52, a price-to-earnings-growth ratio of 2.36 and a beta of 0.48. American Tower Co. has a 12-month low of $220.00 and a 12-month high of $303.72. The stock has a 50 day moving average price of $249.72 and a 200 day moving average price of $252.03.

American Tower (NYSE:AMT – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The real estate investment trust reported $1.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.41 by ($0.85). The firm had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.61 billion. American Tower had a net margin of 26.72% and a return on equity of 30.44%. American Tower’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.46 EPS. Equities research analysts expect that American Tower Co. will post 9.65 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 8th. Investors of record on Friday, June 17th will be issued a $1.43 dividend. This represents a $5.72 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Thursday, June 16th. This is an increase from American Tower’s previous quarterly dividend of $1.40. American Tower’s payout ratio is currently 96.89%.

AMT has been the topic of a number of research analyst reports. Morgan Stanley lowered their price target on American Tower from $275.00 to $268.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 7th. Wells Fargo & Company lifted their price objective on American Tower from $250.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, March 11th. Cowen reduced their price objective on American Tower from $350.00 to $325.00 in a research report on Friday, February 25th. KeyCorp reduced their price objective on American Tower from $311.00 to $286.00 and set an “overweight” rating on the stock in a research report on Friday, February 25th. Finally, Raymond James reduced their price objective on American Tower from $294.00 to $279.00 and set an “outperform” rating on the stock in a research report on Monday, February 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $290.29.

Hedge funds have recently bought and sold shares of the stock. Rational Advisors LLC grew its stake in American Tower by 140.0% during the 4th quarter. Rational Advisors LLC now owns 84 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 49 shares in the last quarter. Cassady Schiller Wealth Management LLC acquired a new position in American Tower during the 4th quarter worth $25,000. Sandy Cove Advisors LLC acquired a new position in American Tower during the 4th quarter worth $27,000. Crewe Advisors LLC acquired a new position in American Tower during the 4th quarter worth $28,000. Finally, City State Bank acquired a new position in American Tower during the 4th quarter worth $29,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

American Tower Company Profile (Get Rating)

American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.

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