Equities analysts expect that American Tower Corp (NYSE:AMT) will post $1.84 billion in sales for the current quarter, Zacks reports. Five analysts have made estimates for American Tower’s earnings. The highest sales estimate is $1.86 billion and the lowest is $1.82 billion. American Tower reported sales of $1.78 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 3.4%. The firm is expected to issue its next earnings report on Friday, May 3rd.
According to Zacks, analysts expect that American Tower will report full year sales of $7.37 billion for the current year, with estimates ranging from $7.34 billion to $7.42 billion. For the next fiscal year, analysts expect that the company will post sales of $7.81 billion, with estimates ranging from $7.52 billion to $7.94 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for American Tower.
American Tower (NYSE:AMT) last posted its quarterly earnings results on Friday, May 3rd. The real estate investment trust reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.04. American Tower had a return on equity of 19.86% and a net margin of 16.62%. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the business earned $0.63 EPS. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year.
Shares of AMT traded up $0.15 during trading hours on Friday, reaching $192.95. The stock had a trading volume of 1,059,077 shares, compared to its average volume of 1,792,703. American Tower has a 12 month low of $134.87 and a 12 month high of $198.19. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 3.12. The stock has a market cap of $85.12 billion, a P/E ratio of 24.15, a P/E/G ratio of 1.65 and a beta of 0.66.
The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Thursday, April 11th were given a $0.90 dividend. This is a positive change from American Tower’s previous quarterly dividend of $0.84. This represents a $3.60 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Wednesday, April 10th. American Tower’s dividend payout ratio is presently 45.06%.
In other news, CEO James D. Taiclet, Jr. sold 11,863 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $195.88, for a total transaction of $2,323,724.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William H. Hess sold 20,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $186.97, for a total value of $3,739,400.00. Following the sale, the executive vice president now directly owns 92,231 shares of the company’s stock, valued at $17,244,430.07. The disclosure for this sale can be found here. Insiders sold a total of 156,915 shares of company stock valued at $30,325,109 over the last three months. 0.75% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc increased its holdings in American Tower by 6.7% in the 3rd quarter. Vanguard Group Inc now owns 56,635,438 shares of the real estate investment trust’s stock worth $8,229,130,000 after acquiring an additional 3,579,249 shares during the last quarter. FMR LLC boosted its position in shares of American Tower by 32.6% during the 4th quarter. FMR LLC now owns 20,144,710 shares of the real estate investment trust’s stock valued at $3,186,692,000 after acquiring an additional 4,949,323 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of American Tower by 15,525.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,579,832 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 7,531,324 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of American Tower by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,557,968 shares of the real estate investment trust’s stock valued at $1,037,413,000 after acquiring an additional 144,064 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of American Tower by 2.4% during the 4th quarter. Northern Trust Corp now owns 6,552,256 shares of the real estate investment trust’s stock valued at $1,036,502,000 after acquiring an additional 151,008 shares during the last quarter. 94.67% of the stock is owned by hedge funds and other institutional investors.
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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