Steven O. Vondran Sells 21,537 Shares of American Tower Co. (NYSE:AMT) Stock

American Tower Co. (NYSE:AMT) CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

American Tower Stock Performance

NYSE AMT traded up $1.97 during trading hours on Tuesday, reaching $228.16. 2,704,774 shares of the company were exchanged, compared to its average volume of 2,353,662. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $236.13. The business’s 50 day simple moving average is $201.82 and its 200-day simple moving average is $194.27. The company has a quick ratio of 0.85, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. The stock has a market capitalization of $106.55 billion, a P/E ratio of 51.62, a P/E/G ratio of 1.65 and a beta of 0.81.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter last year, the business posted $2.46 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities research analysts expect that American Tower Co. will post 10.04 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 14th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a yield of 2.84%. American Tower’s dividend payout ratio is presently 146.61%.

Hedge Funds Weigh In On American Tower

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northwest Investment Counselors LLC bought a new position in American Tower during the first quarter worth about $25,000. Gold Investment Management Ltd. bought a new position in shares of American Tower in the fourth quarter valued at approximately $28,000. Cultivar Capital Inc. bought a new position in shares of American Tower in the second quarter valued at approximately $25,000. Private Wealth Management Group LLC bought a new position in shares of American Tower in the fourth quarter valued at approximately $31,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of American Tower in the second quarter valued at approximately $29,000. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of recent research reports. Mizuho initiated coverage on shares of American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective on the stock. The Goldman Sachs Group initiated coverage on shares of American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 price objective on the stock. Wells Fargo & Company increased their target price on shares of American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Barclays lowered their target price on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Finally, StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $230.42.

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 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.