American Tower (NYSE:AMT) announced its quarterly earnings results on Thursday. The real estate investment trust reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.99), MarketWatch Earnings reports. American Tower had a net margin of 24.70% and a return on equity of 39.62%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the previous year, the company posted $2.01 earnings per share. American Tower’s quarterly revenue was up 1.2% on a year-over-year basis.

Shares of NYSE AMT opened at $261.39 on Friday. 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 company has a market cap of $115.88 billion, a price-to-earnings ratio of 32.11, a PEG ratio of 2.25 and a beta of 0.45. The business’s 50 day moving average price is $260.39 and its 200-day moving average price is $244.08.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 19th were paid a dividend of $1.10 per share. This is a boost from American Tower’s previous quarterly dividend of $1.08. The ex-dividend date was Thursday, June 18th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.68%. American Tower’s dividend payout ratio is currently 56.92%.

In other news, Director David E. Sharbutt sold 900 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $258.92, for a total value of $233,028.00. Following the transaction, the director now directly owns 1,736 shares in the company, valued at $449,485.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Steven O. Vondran sold 1,388 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $259.50, for a total transaction of $360,186.00. Following the completion of the transaction, the executive vice president now directly owns 24,386 shares in the company, valued at approximately $6,328,167. The disclosure for this sale can be found here. Insiders have sold a total of 13,220 shares of company stock valued at $3,317,755 over the last three months. 0.65% of the stock is owned by corporate insiders.

AMT has been the topic of several recent research reports. Zacks Investment Research upgraded American Tower from a “sell” rating to a “hold” rating and set a $273.00 target price for the company in a research report on Monday, June 29th. KeyCorp downgraded shares of American Tower from an “overweight” rating to a “sector weight” rating in a research note on Monday, July 13th. Barclays started coverage on shares of American Tower in a report on Wednesday, July 15th. They issued an “overweight” rating and a $296.00 target price on the stock. Morgan Stanley increased their price target on shares of American Tower from $245.00 to $250.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Finally, Deutsche Bank initiated coverage on American Tower in a research report on Friday, June 5th. They issued a “buy” rating and a $287.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $271.54.

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 approximately 171,000 communications sites.

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Earnings History for American Tower (NYSE:AMT)

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