James D. Taiclet, Jr. Sells 34,667 Shares of American Tower Corp (AMT) Stock
American Tower Corp (NYSE:AMT) Chairman James D. Taiclet, Jr. sold 34,667 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $142.52, for a total value of $4,940,740.84. Following the sale, the chairman now directly owns 305,374 shares of the company’s stock, valued at approximately $43,521,902.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
American Tower Corp (AMT) traded down $0.54 during mid-day trading on Wednesday, hitting $143.51. The stock had a trading volume of 1,859,200 shares, compared to its average volume of 1,979,155. The company has a market capitalization of $61,550.00, a price-to-earnings ratio of 22.30, a PEG ratio of 1.69 and a beta of 0.72. American Tower Corp has a 52 week low of $102.51 and a 52 week high of $155.28. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.61.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Thursday, December 28th will be issued a dividend of $0.70 per share. This is a positive change from American Tower’s previous quarterly dividend of $0.66. This represents a $2.80 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Wednesday, December 27th. American Tower’s dividend payout ratio (DPR) is 100.38%.
A number of institutional investors have recently modified their holdings of the stock. Howe & Rusling Inc. grew its position in shares of American Tower by 1,608.0% in the third quarter. Howe & Rusling Inc. now owns 854 shares of the real estate investment trust’s stock valued at $117,000 after purchasing an additional 804 shares in the last quarter. Peddock Capital Advisors LLC purchased a new position in shares of American Tower in the second quarter valued at $119,000. Legacy Advisors LLC purchased a new position in shares of American Tower in the third quarter valued at $132,000. Glassman Wealth Services grew its position in shares of American Tower by 28.9% in the second quarter. Glassman Wealth Services now owns 1,029 shares of the real estate investment trust’s stock valued at $136,000 after purchasing an additional 231 shares in the last quarter. Finally, Fieldpoint Private Securities LLC grew its position in 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 buying an additional 435 shares in the last quarter. Institutional investors and hedge funds own 91.89% of the company’s stock.
AMT has been the subject of several recent analyst reports. Jefferies Group reaffirmed a “buy” rating and set a $144.00 target price on shares of American Tower in a research note on Tuesday, September 12th. Macquarie raised their target price on American Tower from $162.00 to $165.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 1st. BidaskClub raised American Tower from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Zacks Investment Research cut American Tower from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, KeyCorp set a $156.00 price objective on American Tower and gave the company an “overweight” rating in a research note on Wednesday, November 1st. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. American Tower presently has an average rating of “Buy” and an average price target of $158.50.
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.
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