American Tower (NYSE:AMT) posted its quarterly earnings data on Thursday. The real estate investment trust reported $1.00 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.99 by ($0.99), MarketWatch Earnings reports. American Tower had a return on equity of 39.62% and a net margin of 24.70%. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter last year, the company posted $2.01 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis.
Shares of AMT stock opened at $261.39 on Friday. The company has a market capitalization of $115.88 billion, a P/E ratio of 32.11, a PEG ratio of 2.25 and a beta of 0.45. American Tower has a fifty-two week low of $174.32 and a fifty-two week high of $272.20. The company has a debt-to-equity ratio of 6.88, a quick ratio of 0.64 and a current ratio of 0.61. The stock has a 50 day moving average price of $260.39 and a two-hundred day moving average price of $244.08.
The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Friday, June 19th were paid a $1.10 dividend. This is a boost from American Tower’s previous quarterly dividend of $1.08. This represents a $4.40 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Thursday, June 18th. American Tower’s payout ratio is 56.92%.
A number of equities analysts have commented on the stock. Oppenheimer reissued a “buy” rating and issued a $270.00 price target on shares of American Tower in a research note on Thursday. Morgan Stanley upped their target price on shares of American Tower from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Wells Fargo & Co raised their price target on American Tower from $272.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Deutsche Bank started coverage on American Tower in a report on Friday, June 5th. They issued a “buy” rating and a $287.00 price objective for the company. Finally, Zacks Investment Research raised American Tower from a “sell” rating to a “hold” rating and set a $273.00 price objective on the stock in a report on Monday, June 29th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $271.54.
In other news, CAO Robert Joseph Meyer, Jr. sold 6,439 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $238.11, for a total transaction of $1,533,190.29. Following the completion of the sale, the chief accounting officer now directly owns 37,120 shares in the company, valued at $8,838,643.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David E. Sharbutt sold 900 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $258.92, for a total transaction of $233,028.00. Following the sale, the director now owns 1,736 shares of the company’s stock, valued at $449,485.12. The disclosure for this sale can be found here. Insiders sold 13,220 shares of company stock worth $3,317,755 in the last 90 days. Company insiders own 0.65% of the company’s stock.
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 approximately 171,000 communications sites.
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