American Tower Corp (AMT) Director Sells $512,260.00 in Stock

American Tower Corp (NYSE:AMT) Director Samme L. Thompson sold 3,500 shares of the stock in a transaction on Tuesday, March 20th. The stock was sold at an average price of $146.36, for a total value of $512,260.00. Following the completion of the transaction, the director now directly owns 22,125 shares in the company, valued at $3,238,215. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Shares of American Tower stock traded up $0.68 during mid-day trading on Thursday, hitting $143.01. 2,454,064 shares of the stock were exchanged, compared to its average volume of 2,837,330. American Tower Corp has a 12 month low of $118.07 and a 12 month high of $155.28. The firm has a market capitalization of $64,500.91, a price-to-earnings ratio of 53.56, a price-to-earnings-growth ratio of 1.64 and a beta of 0.80. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.25 and a quick ratio of 1.25.

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American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.63 by ($0.04). American Tower had a net margin of 18.31% and a return on equity of 17.20%. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the prior year, the company earned $1.52 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. equities research analysts anticipate that American Tower Corp will post 7.09 earnings per share for the current year.

American Tower declared that its Board of Directors has authorized a stock buyback plan on Thursday, December 7th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Wednesday, April 11th will be issued a $0.75 dividend. This is a positive change from American Tower’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Tuesday, April 10th. American Tower’s dividend payout ratio is currently 104.87%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Chemical Bank lifted its holdings in American Tower by 50.6% in the fourth quarter. Chemical Bank now owns 3,235 shares of the real estate investment trust’s stock valued at $461,000 after buying an additional 1,087 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in American Tower by 28.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 22,639 shares of the real estate investment trust’s stock valued at $3,230,000 after buying an additional 4,963 shares during the period. Xact Kapitalforvaltning AB lifted its holdings in American Tower by 8.3% in the fourth quarter. Xact Kapitalforvaltning AB now owns 70,425 shares of the real estate investment trust’s stock valued at $10,048,000 after buying an additional 5,382 shares during the period. CNB Bank acquired a new position in American Tower in the fourth quarter valued at approximately $325,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in American Tower by 17.0% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 278,258 shares of the real estate investment trust’s stock valued at $39,699,000 after buying an additional 40,384 shares during the period. Institutional investors and hedge funds own 89.94% of the company’s stock.

AMT has been the topic of several research reports. Morgan Stanley reissued an “overweight” rating and issued a $172.00 price objective on shares of American Tower in a research report on Wednesday, December 13th. KeyCorp reiterated an “overweight” rating and issued a $177.00 price target (up from $156.00) on shares of American Tower in a research note on Monday, November 27th. Zacks Investment Research raised shares of American Tower from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a report on Tuesday, January 2nd. ValuEngine cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Citigroup cut their price target on American Tower from $169.00 to $162.00 and set a “buy” rating on the stock in a report on Monday, March 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have assigned a buy rating to the stock. American Tower has a consensus rating of “Buy” and an average target price of $156.87.

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American Tower Company Profile

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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