Joann A. Reed Sells 1,538 Shares of American Tower Corp (AMT) Stock

American Tower Corp (NYSE:AMT) Director Joann A. Reed sold 1,538 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $175.61, for a total transaction of $270,088.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

NYSE AMT opened at $181.65 on Thursday. American Tower Corp has a 12 month low of $133.53 and a 12 month high of $182.29. The company has a market cap of $79.75 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 1.63 and a beta of 0.65. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 3.11.

American Tower (NYSE:AMT) last released its earnings results on Wednesday, February 27th. The real estate investment trust reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($1.63). American Tower had a return on equity of 18.55% and a net margin of 17.07%. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the business posted $0.51 EPS. American Tower’s revenue was up 25.0% on a year-over-year basis. As a group, analysts expect that American Tower Corp will post 7.55 earnings per share for the current year.

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada raised their price objective on shares of American Tower from $173.00 to $195.00 and gave the stock an “outperform” rating in a report on Wednesday. Citigroup raised their price objective on shares of American Tower from $176.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday. Oppenheimer downgraded shares of American Tower from an “outperform” rating to a “market perform” rating in a report on Thursday, February 28th. CIBC reissued a “market perform” rating on shares of American Tower in a report on Thursday, February 28th. Finally, Macquarie reissued a “buy” rating and issued a $210.00 price objective on shares of American Tower in a report on Thursday, February 28th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $173.69.

Institutional investors have recently added to or reduced their stakes in the company. Ruggie Capital Group raised its position in shares of American Tower by 113.3% during the fourth quarter. Ruggie Capital Group now owns 546 shares of the real estate investment trust’s stock valued at $86,000 after buying an additional 290 shares during the last quarter. Cornerstone Advisors Inc. raised its position in shares of American Tower by 6.1% during the third quarter. Cornerstone Advisors Inc. now owns 1,349 shares of the real estate investment trust’s stock valued at $196,000 after buying an additional 78 shares during the last quarter. Pennsylvania Trust Co raised its position in shares of American Tower by 5.9% during the fourth quarter. Pennsylvania Trust Co now owns 225,188 shares of the real estate investment trust’s stock valued at $35,622,000 after buying an additional 12,597 shares during the last quarter. Joel Isaacson & Co. LLC raised its position in shares of American Tower by 5.2% during the fourth quarter. Joel Isaacson & Co. LLC now owns 5,746 shares of the real estate investment trust’s stock valued at $927,000 after buying an additional 286 shares during the last quarter. Finally, D.A. Davidson & CO. raised its position in shares of American Tower by 2.3% during the third quarter. D.A. Davidson & CO. now owns 13,901 shares of the real estate investment trust’s stock valued at $2,020,000 after buying an additional 319 shares during the last quarter. Hedge funds and other institutional investors own 93.05% of the company’s stock.

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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 over 170,000 communications sites.

Further Reading: Price-Sales Ratio

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

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