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 dated Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the sale, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at $14,223,890. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

American Tower Stock Up 0.9 %

AMT stock traded up $1.97 during trading on Tuesday, hitting $228.16. 2,704,774 shares of the company’s stock were exchanged, compared to its average volume of 2,353,662. The company has a current ratio of 0.81, a quick ratio of 0.85 and a debt-to-equity ratio of 3.42. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $236.13. The business has a 50-day moving average price of $201.82 and a two-hundred day moving average price of $194.27. The stock has a market capitalization of $106.55 billion, a price-to-earnings ratio of 51.62, a PEG ratio of 1.65 and a beta of 0.81.

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

American Tower Announces Dividend

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

Institutional Investors Weigh In On American Tower

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMT. Allstate Corp increased its holdings in shares of American Tower by 3.1% in the fourth quarter. Allstate Corp now owns 1,750 shares of the real estate investment trust’s stock valued at $378,000 after purchasing an additional 53 shares during the period. NBT Bank N A NY boosted its position in American Tower by 3.3% during the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock worth $329,000 after purchasing an additional 54 shares in the last quarter. McIlrath & Eck LLC lifted its position in shares of American Tower by 13.9% in the fourth quarter. McIlrath & Eck LLC now owns 459 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 56 shares in the last quarter. Glassman Wealth Services lifted its position in shares of American Tower by 4.7% in the fourth quarter. Glassman Wealth Services now owns 1,242 shares of the real estate investment trust’s stock valued at $268,000 after acquiring an additional 56 shares in the last quarter. Finally, CFO4Life Group LLC lifted its position in shares of American Tower by 5.4% in the first quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $221,000 after acquiring an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

AMT has been the subject of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on American Tower in a research report on Monday, July 1st. They set a “buy” rating and a $230.00 price objective for the company. StockNews.com raised American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Barclays dropped their target price on American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $246.00 target price (up from $225.00) on shares of American Tower in a research report on Wednesday, July 31st. Finally, Mizuho initiated coverage on American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective for the company. Two 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.42.

About American Tower

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.