American Tower Corp. (NYSE:AMT) Chairman James D. Taiclet, Jr. sold 40,625 shares of the company’s stock in a transaction on Monday, October 17th. The stock was sold at an average price of $113.45, for a total transaction of $4,608,906.25. Following the completion of the sale, the chairman now owns 267,142 shares of the company’s stock, valued at $30,307,259.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

American Tower Corp. (NYSE:AMT) opened at 114.15 on Wednesday. American Tower Corp. has a 52 week low of $83.07 and a 52 week high of $118.26. The company has a 50 day moving average of $111.70 and a 200 day moving average of $110.46. The stock has a market capitalization of $48.57 billion, a P/E ratio of 70.86 and a beta of 0.62.

American Tower Corp. (NYSE:AMT) last posted its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $1.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.36 by $0.03. American Tower Corp. had a return on equity of 11.73% and a net margin of 15.21%. The business earned $1.44 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the company earned $1.26 earnings per share. The company’s revenue for the quarter was up 22.8% compared to the same quarter last year. Equities analysts expect that American Tower Corp. will post $5.70 EPS for the current fiscal year.

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

The firm also recently declared a quarterly dividend, which was paid on Monday, October 17th. Shareholders of record on Friday, September 30th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.93%. This is an increase from American Tower Corp.’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Wednesday, September 28th. American Tower Corp.’s dividend payout ratio is presently 136.65%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. WFG Advisors LP increased its position in American Tower Corp. by 1.2% in the second quarter. WFG Advisors LP now owns 1,473 shares of the real estate investment trust’s stock valued at $167,000 after buying an additional 18 shares during the last quarter. Homrich & Berg increased its position in American Tower Corp. by 0.4% in the second quarter. Homrich & Berg now owns 5,625 shares of the real estate investment trust’s stock valued at $639,000 after buying an additional 21 shares during the last quarter. Sigma Planning Corp increased its position in American Tower Corp. by 1.2% in the second quarter. Sigma Planning Corp now owns 2,383 shares of the real estate investment trust’s stock valued at $271,000 after buying an additional 29 shares during the last quarter. Quadrant Capital Group LLC increased its position in American Tower Corp. by 1.8% in the second quarter. Quadrant Capital Group LLC now owns 2,453 shares of the real estate investment trust’s stock valued at $271,000 after buying an additional 44 shares during the last quarter. Finally, Buckingham Asset Management LLC increased its position in American Tower Corp. by 0.8% in the second quarter. Buckingham Asset Management LLC now owns 5,802 shares of the real estate investment trust’s stock valued at $659,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 94.15% of the company’s stock.

A number of brokerages recently issued reports on AMT. Argus upped their price objective on shares of American Tower Corp. from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, August 17th. Jefferies Group boosted their target price on shares of American Tower Corp. from $120.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. BTIG Research boosted their target price on shares of American Tower Corp. to $140.00 in a research report on Tuesday, July 19th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of American Tower Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, October 12th. Finally, Citigroup Inc. cut their target price on shares of American Tower Corp. from $134.00 to $133.00 and set a “buy” rating for the company in a research report on Wednesday, August 10th. One analyst has rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $120.84.

American Tower Corp. Company Profile

American Tower Corporation is a holding company. The company owns, operates and develops wireless and broadcast communications real estate. Its primary business is leasing antenna space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data and data providers, government agencies and municipalities.

5 Day Chart for NYSE:AMT

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