American Tower (NYSE:AMT – Get Free Report) announced its quarterly earnings results on Tuesday. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56), Yahoo Finance reports. The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.58 earnings per share. American Tower updated its FY 2024 guidance to 10.450-10.620 EPS.
American Tower Price Performance
Shares of NYSE:AMT opened at $213.70 on Thursday. The stock has a market cap of $99.82 billion, a PE ratio of 40.17, a PEG ratio of 1.09 and a beta of 0.83. The company’s fifty day moving average is $228.58 and its 200 day moving average is $208.42. American Tower has a 52 week low of $170.46 and a 52 week high of $243.56. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42.
American Tower Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s payout ratio is presently 121.80%.
Wall Street Analyst Weigh In
Check Out Our Latest Analysis on American Tower
Insider Buying and Selling
In related news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction on Friday, August 2nd. The shares were 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 owns 61,843 shares in the company, valued at $14,223,890. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were 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 owns 61,843 shares in the company, valued at approximately $14,223,890. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 51,746 shares in the company, valued at $12,070,789.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,723 shares of company stock worth $7,795,397 in the last 90 days. 0.18% of the stock is owned by company insiders.
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.
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