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%.

American Tower announced that its board has initiated a stock repurchase program on Thursday, December 7th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the real estate investment trust to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.

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

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