Stock market today: S&P 500 hits fresh record close on stronger economic growth
In recent trading activity, Sanjay Goel, the Executive Vice President and President of Asia-Pacific at American Tower Corp (NYSE:AMT), sold 4,000 shares of the company’s common stock. The sale, executed on March 17, 2025, was completed at a weighted average price ranging from $215.85 to $215.92 per share, amounting to a total transaction value of approximately $863,680.
Following this transaction, Goel retains ownership of 25,408 shares in the company. American Tower, a real estate investment trust headquartered in Boston, focuses on owning and operating wireless and broadcast communications infrastructure. As a prominent player in the Specialized REITs industry with a market capitalization of $100 billion, the company has maintained dividend payments for 15 consecutive years and currently offers a 3.2% yield. InvestingPro analysis reveals 10+ additional key insights about AMT’s financial health and market position.
In other recent news, American Tower Corporation reported robust financial results for the fourth quarter of 2024, surpassing analysts’ expectations with an earnings per share (EPS) of $2.32 against a forecasted $1.77 and revenue of $2.55 billion, exceeding the anticipated $2.52 billion. Following this announcement, BMO Capital Markets and JMP Securities both increased their price targets for the company, with BMO raising it to $220 and JMP to $248, while maintaining their positive ratings on the stock. American Tower also announced the pricing of a $1 billion public offering in senior unsecured notes, with proceeds intended for debt repayment and general corporate purposes. Additionally, the company disclosed changes to executive compensation, including new base salaries and target cash bonus potentials for top executives for the fiscal year ending December 31, 2025. These developments come as American Tower focuses on expanding its data center business and enhancing 5G network capabilities. Despite facing challenges such as currency fluctuations, the company is well-positioned for growth, with analysts expressing confidence in its strategic direction and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.