American Tower Corporation is a wireless communications and broadcast infrastructure company with three operating segments. American Tower Corp. has a market cap of $26.16 billion; its shares were traded at around $66.5 with a P/E ratio of 50.2 and P/S ratio of 10.7. The dividend yield of American Tower Corp. stocks is 1.3%. Amer Tower Corp. had an annual average earnings growth of 9.9% over the past 10 years.
James D. Taiclet Jr., Chairman, President and CEO of American Tower Corp. (NYSE:AMT), sold 60,000 shares at an average price of $65.87 on June 7, 2012. The total transaction amount is $3,952,200.
Taiclet joined American Tower as president and chief operating officer in September 2001. In October 2003, he became the CEO, and he was also elected to the company’s board of directors in November of the same year. He was named their chairman in February 2004. Before coming to American Tower, Mr. Taiclet was the president of Honeywell Aerospace Services, the vice president of Engine Services at Pratt & Whitney, a consultant at McKinsey & Company, and a U.S. Air Force officer and pilot.
James D. Taiclet Jr. has also sold 60,000 shares of AMT stock at the average price of $66.69 on May 7, 2012. Other directors and officers, Robert Joseph Meyer Jr., David E. Sharbutt and Edmund Disanto have also sold shares. Senior Vice President, Finance and Corp. Controller Robert Joseph Meyer Jr. sold 7,694 shares of AMT stock at the average price of $62.95 on March 14, 2012. On March 12, Director David E. Sharbutt sold 25,965 shares of AMT stock at the average price of $62.07. Executive Vice President, Chief Administrative Officer, General Counsel and Secretary Edmund Disanto sold 21,875 shares of AMT stock on Dec. 29, 2011 at the average price of $60.52.
Gurufocus guru Chris Davis bought 420,248 shares in the quarter that ended on March 31, 2012. Gurufocus gurus Ray Dalio, Chuck Akre, and Richard Perry have increased their positions. Ray Dalio owns 26,464 shares as of March 31, 2012, an increase of 33.23% from the previous quarter. As of March 31, 2012, Chuck Akre owns 1,687,609 shares, an increase of 21.67% from the previous quarter. An increase of 12.42% from the previous quarter, Richard Perry owns 3,240,886 shares as of March 31, 2012. Andreas Halvorsen and Ron Baron decreased their position. Andreas Halvorsen owns 1,437,061 shares as of March 31, 2012, a decrease of 56.08% of from the previous quarter. Ron Baron owns 5,596 shares, a decrease of 99.26% of from the previous quarter, as of March 31, 2012.
On May 3, 2012, American Tower Corp. announced their 2012 first quarter financial results. The company reported that revenue of 696.5 million, compared to the $562.7 million in the first quarter of 2011. Net income was announced as $210.4 million, compared to the 2011 first quarter net income of $92.0 million.
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