American Tower (NYSE:AMT) Stock Price Up 2.5%

American Tower Co. (NYSE:AMT) shares traded up 2.5% on Tuesday . The company traded as high as $229.71 and last traded at $229.71. 495,192 shares were traded during trading, a decline of 79% from the average session volume of 2,312,709 shares. The stock had previously closed at $224.06.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AMT shares. Barclays reduced their target price on American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. The Goldman Sachs Group initiated coverage on American Tower in a research report on Monday, July 1st. They issued a “buy” rating and a $230.00 price objective on the stock. Wells Fargo & Company lifted their price objective on American Tower from $225.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. TD Cowen raised their price target on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada boosted their price objective on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.14.

American Tower Stock Up 0.5 %

The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. The firm has a market capitalization of $109.10 billion, a PE ratio of 52.61, a price-to-earnings-growth ratio of 1.51 and a beta of 0.83. The firm has a 50-day moving average of $214.95 and a two-hundred day moving average of $198.74.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.46 earnings per share. On average, equities research analysts forecast that American Tower Co. will post 10.05 EPS for the current year.

Insider Transactions at American Tower

In other American Tower news, 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 transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at $14,223,890. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Steven O. Vondran sold 21,537 shares of the business’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 transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at $14,223,890. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the sale, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The disclosure for this sale can be found here. Insiders sold 33,723 shares of company stock valued at $7,795,397 over the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Northwest Investment Counselors LLC acquired a new position in shares of American Tower in the 1st quarter valued at approximately $25,000. Fairscale Capital LLC acquired a new stake in American Tower in the second quarter valued at $27,000. Gold Investment Management Ltd. bought a new position in American Tower during the 4th quarter valued at $28,000. Cultivar Capital Inc. acquired a new position in American Tower during the 2nd quarter worth $25,000. Finally, Private Wealth Management Group LLC bought a new stake in shares of American Tower in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 92.69% 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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.