American Tower (NYSE:AMT – Get Free Report) posted its earnings results on Tuesday. The real estate investment trust reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47), Yahoo Finance reports. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same period in the previous year, the firm earned $2.54 EPS. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. American Tower updated its FY 2024 guidance to 10.300-10.530 EPS and its FY24 guidance to $10.30-10.53 EPS.
American Tower Trading Up 0.9 %
American Tower stock traded up $1.56 during mid-day trading on Thursday, reaching $178.40. 978,019 shares of the company traded hands, compared to its average volume of 2,432,337. The firm’s 50 day moving average price is $189.49 and its 200 day moving average price is $194.40. American Tower has a 52-week low of $154.58 and a 52-week high of $219.10. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.69. The firm has a market capitalization of $83.20 billion, a price-to-earnings ratio of 40.00, a P/E/G ratio of 1.35 and a beta of 0.71.
American Tower Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date was Thursday, April 11th. American Tower’s payout ratio is 146.61%.
Analyst Ratings Changes
Check Out Our Latest Stock Analysis on AMT
Insider Activity
In related news, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the transaction, the director now directly owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the sale, the chief financial officer now owns 62,969 shares in the company, valued at approximately $12,953,352.99. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the transaction, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.
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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.
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