Investors Sell Shares of American Tower (AMT) on Strength (AMT)

Traders sold shares of American Tower Corp (NYSE:AMT) on strength during trading on Monday. $100.16 million flowed into the stock on the tick-up and $151.67 million flowed out of the stock on the tick-down, for a money net flow of $51.51 million out of the stock. Of all companies tracked, American Tower had the 0th highest net out-flow for the day. American Tower traded up $3.21 for the day and closed at $152.82

A number of equities research analysts have recently issued reports on the company. Argus upped their price target on American Tower from $154.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, August 20th. Oppenheimer upped their price target on American Tower from $167.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, August 1st. Cowen restated a “buy” rating and issued a $161.00 price target on shares of American Tower in a research report on Wednesday, August 1st. Guggenheim restated a “hold” rating and issued a $160.00 price target on shares of American Tower in a research report on Tuesday, August 7th. Finally, Morgan Stanley upped their price objective on American Tower from $154.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, August 16th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $162.14.

The firm has a market cap of $65.95 billion, a P/E ratio of 23.95, a P/E/G ratio of 1.55 and a beta of 0.80. The company has a debt-to-equity ratio of 2.99, a current ratio of 0.66 and a quick ratio of 0.66.



The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 17th. Investors of record on Friday, September 28th were issued a $0.79 dividend. The ex-dividend date was Thursday, September 27th. This is a boost from American Tower’s previous quarterly dividend of $0.77. This represents a $3.16 dividend on an annualized basis and a yield of 2.07%. American Tower’s dividend payout ratio is currently 49.53%.

In other American Tower news, EVP Edmund Disanto sold 15,000 shares of the company’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $149.53, for a total transaction of $2,242,950.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman James D. Taiclet, Jr. sold 43,808 shares of the company’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $150.65, for a total value of $6,599,675.20. The disclosure for this sale can be found here. Insiders sold 80,281 shares of company stock worth $12,014,625 over the last quarter. 0.87% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Wallington Asset Management LLC lifted its stake in American Tower by 0.4% during the second quarter. Wallington Asset Management LLC now owns 82,040 shares of the real estate investment trust’s stock worth $11,828,000 after purchasing an additional 340 shares in the last quarter. Peregrine Capital Management LLC lifted its stake in American Tower by 0.3% during the second quarter. Peregrine Capital Management LLC now owns 110,820 shares of the real estate investment trust’s stock worth $15,977,000 after purchasing an additional 351 shares in the last quarter. Warren Averett Asset Management LLC lifted its stake in American Tower by 9.0% during the second quarter. Warren Averett Asset Management LLC now owns 4,498 shares of the real estate investment trust’s stock worth $648,000 after purchasing an additional 370 shares in the last quarter. Appleton Partners Inc. MA lifted its stake in American Tower by 0.6% during the third quarter. Appleton Partners Inc. MA now owns 65,875 shares of the real estate investment trust’s stock worth $9,572,000 after purchasing an additional 370 shares in the last quarter. Finally, Gofen & Glossberg LLC IL lifted its stake in American Tower by 1.0% during the third quarter. Gofen & Glossberg LLC IL now owns 36,845 shares of the real estate investment trust’s stock worth $5,354,000 after purchasing an additional 371 shares in the last quarter. Institutional investors own 93.35% of the company’s stock.

About American Tower (NYSE:AMT)

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 170,000 communications sites.

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