American Tower Corp (AMT) Director Sells $228,792.96 in Stock
American Tower Corp (NYSE:AMT) Director David E. Sharbutt sold 1,584 shares of American Tower stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $144.44, for a total transaction of $228,792.96. Following the completion of the transaction, the director now owns 4,861 shares in the company, valued at approximately $702,122.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
American Tower Corp (AMT) traded down $0.88 during midday trading on Friday, reaching $142.76. 3,648,628 shares of the company’s stock traded hands, compared to its average volume of 1,985,569. 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 has a market cap of $61,639.47, a price-to-earnings ratio of 22.25, a price-to-earnings-growth ratio of 1.69 and a beta of 0.73. American Tower Corp has a 52 week low of $102.51 and a 52 week high of $155.28.
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 given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.96%. This is a positive change from American Tower’s previous quarterly dividend of $0.66. The ex-dividend date is Wednesday, December 27th. American Tower’s dividend payout ratio (DPR) is currently 100.38%.
A number of hedge funds and other institutional investors have recently bought and sold shares of AMT. CIBC World Markets Inc. boosted its position in shares of American Tower by 100.6% during the 2nd quarter. CIBC World Markets Inc. now owns 21,261 shares of the real estate investment trust’s stock valued at $2,813,000 after acquiring an additional 10,663 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in American Tower by 33.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 81,470 shares of the real estate investment trust’s stock valued at $10,780,000 after purchasing an additional 20,222 shares during the last quarter. State of Tennessee Treasury Department lifted its holdings in American Tower by 9.7% during the 2nd quarter. State of Tennessee Treasury Department now owns 349,736 shares of the real estate investment trust’s stock valued at $46,277,000 after purchasing an additional 30,885 shares during the last quarter. BB&T Corp lifted its holdings in American Tower by 3.1% during the 3rd quarter. BB&T Corp now owns 37,161 shares of the real estate investment trust’s stock valued at $5,079,000 after purchasing an additional 1,104 shares during the last quarter. Finally, Motco lifted its holdings in American Tower by 6.8% during the 2nd quarter. Motco now owns 3,112 shares of the real estate investment trust’s stock valued at $412,000 after purchasing an additional 199 shares during the last quarter. Institutional investors own 91.89% of the company’s stock.
Several brokerages recently commented on AMT. Argus lifted their target price on shares of American Tower to $170.00 and gave the stock a “buy” rating in a report on Thursday, November 9th. Zacks Investment Research downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. ValuEngine upgraded shares of American Tower from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Morgan Stanley lifted their target price on shares of American Tower from $155.00 to $172.00 and gave the stock an “overweight” rating in a report on Tuesday, November 14th. Finally, KeyCorp reiterated an “overweight” rating and issued a $177.00 target price (up previously from $156.00) on shares of American Tower in a report on Monday, November 27th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. American Tower has a consensus 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.
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