Insider Sale: EVP, CFO & Treasurer Rodney Smith Sells 11,510 Shares of American Tower Corp (AMT)
Rodney Smith, Executive Vice President, Chief Financial Officer & Treasurer of American Tower Corp (NYSE:AMT), has sold 11,510 shares of the company on March 6, 2024, according to a recent SEC filing. The transaction was executed at an average price of $205.71 per share, resulting in a total value of $2,367,851.10.
American Tower Corp is a real estate investment trust that owns, operates, and develops multitenant communications real estate. The company's portfolio includes wireless and broadcast towers, managed rooftops, and distributed antenna systems that support the infrastructure for wireless communications.
Over the past year, the insider has sold a total of 27,761 shares of American Tower Corp and has not made any purchases of the stock. The recent sale further aligns with the trend observed over the past year, where there have been 12 insider sells and no insider buys.
On the date of the insider's recent sale, shares of American Tower Corp were trading at $205.71, giving the company a market capitalization of $96,679.476 billion.
The stock's price-earnings ratio stands at 65.19, which is above both the industry median of 16.88 and the company's historical median price-earnings ratio. This indicates a higher valuation compared to its peers and its own historical valuation.
With the current share price of $205.71 and a GuruFocus Value of $268.16, American Tower Corp has a price-to-GF-Value ratio of 0.77, suggesting that the stock is Modestly Undervalued according to the GF Value metric.
The GF Value is calculated considering historical trading multiples, a GuruFocus adjustment factor based on the company's past returns and growth, and future business performance estimates provided by Morningstar analysts.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
