Insider Selling: American Tower Corp (AMT) Director Sells 5,000 Shares of Stock

American Tower Corp (NYSE:AMT) Director Samme L. Thompson sold 5,000 shares of American Tower stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $143.16, for a total transaction of $715,800.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

American Tower Corp (NYSE:AMT) traded down $2.07 on Thursday, reaching $139.61. 1,729,564 shares of the company’s stock traded hands, compared to its average volume of 2,000,000. American Tower Corp has a 12-month low of $102.51 and a 12-month high of $155.28. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.61. The company has a market capitalization of $60,500.00, a P/E ratio of 53.08, a P/E/G ratio of 1.46 and a beta of 0.73.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Thursday, December 28th will be paid a $0.70 dividend. This is an increase from American Tower’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Wednesday, December 27th. American Tower’s payout ratio is 106.46%.

American Tower announced that its board has approved a stock repurchase program on Thursday, December 7th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Several large investors have recently bought and sold shares of AMT. Howe & Rusling Inc. increased its position in shares of American Tower by 1,608.0% during the third quarter. Howe & Rusling Inc. now owns 854 shares of the real estate investment trust’s stock worth $117,000 after acquiring an additional 804 shares in the last quarter. Legacy Advisors LLC bought a new stake in shares of American Tower during the third quarter worth about $132,000. Fieldpoint Private Securities LLC increased its position in shares of American Tower by 69.6% during the third quarter. Fieldpoint Private Securities LLC now owns 1,060 shares of the real estate investment trust’s stock worth $145,000 after acquiring an additional 435 shares in the last quarter. Americafirst Capital Management LLC bought a new stake in shares of American Tower during the third quarter worth about $173,000. Finally, Laurel Wealth Advisors Inc. purchased a new position in American Tower during the third quarter worth about $202,000. 91.60% of the stock is owned by institutional investors.

Several equities analysts recently issued reports on AMT shares. Macquarie boosted their target price on shares of American Tower from $162.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, November 1st. Jefferies Group restated a “buy” rating and issued a $144.00 target price on shares of American Tower in a report on Tuesday, September 12th. Zacks Investment Research lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. KeyCorp set a $156.00 target price on shares of American Tower and gave the company an “overweight” rating in a report on Wednesday, November 1st. Finally, Argus boosted their target price on shares of American Tower to $170.00 and gave the company a “buy” rating in a report on Thursday, November 9th. One research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $158.60.

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About American Tower

American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

Insider Buying and Selling by Quarter for American Tower (NYSE:AMT)

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