The price of American Tower Corp. (NYSE:AMT) shares last traded on Wall Street rose 1.65% to $162.32.
Based on available information, 20 analysts follow American Tower Corp. (NYSE:AMT). The consensus rating among analysts is ‘Overweight’. AMT stock price is now -10.31% away from the 50-day moving average and -17.84% away from the 200-day moving average. The market capitalization of the company currently stands at $75.67B.
Among analysts, 3 rate the stock a hold while 13 rate it a buy.
With the price target of $230, BMO Capital Markets recently initiated with Outperform rating for American Tower Corp. (NYSE: AMT).
In other news, Smith Rodney M, EVP, CFO & Treasurer sold 10,000 shares of the company’s stock on Aug 17. The stock was sold for $1,781,368 at an average price of $178.14. Upon completion of the transaction, the EVP, CFO & Treasurer now directly owns 50,662 shares in the company, valued at $8.22 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 15, Director HORMATS ROBERT D sold 125 shares of the business’s stock. A total of $23,168 was realized by selling the stock at an average price of $185.34. This leaves the insider owning 7,243 shares of the company worth $1.18 million. Insiders disposed of 128,102 shares of company stock worth roughly $20.79 million over the past 1 year. A total of 0.64% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in AMT stock. A new stake in American Tower Corp. shares was purchased by RENAISSANCE TECHNOLOGIES LLC during the first quarter worth $110,741,000. UNISUPER MANAGEMENT PTY LTD invested $89,630,000 in shares of AMT during the first quarter. In the first quarter, RWC ASSET MANAGEMENT LLP acquired a new stake in American Tower Corp. valued at approximately $41,873,000. EAGLE ASSET MANAGEMENT INC acquired a new stake in AMT for approximately $18,098,000. HRT FINANCIAL LP purchased a new stake in AMT valued at around $14,265,000 in the second quarter. In total, there are 2,268 active investors with 92.37% ownership of the company’s stock.
During the past 12 months, American Tower Corp. has had a low of $158.17 and a high of $235.57. According to the stock market information, the enterprise value for the company is $120.83B, which is based on a 78.48 price-to-earnings ratio, a 9.72 price-to-earnings-growth ratio, and a beta of 0.61. The fifty day moving average price for AMT is $180.98 and a two-hundred day moving average price translates $197.57 for the stock.
The latest earnings results from American Tower Corp. (NYSE: AMT) was released for Jun, 2023. According to the REIT – Specialty Company, earnings per share came in at $1.02, missing analysts’ expectations of $1.1 by -0.08. This compares to $1.95 EPS in the same period last year. The net profit margin was 8.86% and return on equity was 25.81% for AMT. The company reported revenue of $2.77 billion for the quarter, compared to $2.67 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 3.64 percent. For the current quarter, analysts expect AMT to generate $2.76B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/10/2023. Investors who held shares on 06/16/2023 were paid a $1.57 dividend. On an annualized basis, this represents a $6.42 dividend and a 3.96% percent yield. There was an ex-dividend date of 06/15/2023 for this dividend. In terms of dividend payout ratio, AMT is presently at 153.57%.
