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%.

American Tower announced that its Board of Directors has approved a share buyback program on Thursday, December 7th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.

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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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