American Tower Corp (AMT) Director David E. Sharbutt Sells 1,584 Shares

American Tower Corp (NYSE:AMT) Director David E. Sharbutt sold 1,584 shares of American Tower stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $144.44, for a total value of $228,792.96. Following the completion of the transaction, the director now owns 4,861 shares of the company’s stock, valued at $702,122.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of American Tower Corp (NYSE:AMT) traded down $0.82 during mid-day trading on Friday, reaching $142.76. The company’s stock had a trading volume of 3,650,000 shares, compared to its average volume of 2,020,000. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.42 and a current ratio of 1.42. American Tower Corp has a 12 month low of $102.51 and a 12 month high of $155.28. The firm has a market capitalization of $61,220.00, a P/E ratio of 22.24, a P/E/G ratio of 1.69 and a beta of 0.72.

American Tower declared that its Board of Directors has approved a share buyback plan on Thursday, December 7th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Thursday, December 28th will be paid a $0.70 dividend. This is an increase from American Tower’s previous quarterly dividend of $0.66. This represents a $2.80 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Wednesday, December 27th. American Tower’s payout ratio is presently 100.38%.

A number of equities analysts recently commented on AMT shares. BidaskClub upgraded American Tower from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Citigroup lifted their price target on American Tower from $142.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday, August 28th. Royal Bank of Canada reiterated a “buy” rating and issued a $153.00 price target on shares of American Tower in a research note on Friday, September 1st. UBS lifted their price target on American Tower from $150.00 to $163.00 and gave the stock a “buy” rating in a research note on Monday, September 11th. Finally, Jefferies Group reiterated a “buy” rating and issued a $144.00 price target on shares of American Tower in a research note on Tuesday, September 12th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. American Tower has a consensus rating of “Buy” and a consensus price target of $158.50.

Hedge funds have recently modified their holdings of the business. Howe & Rusling Inc. boosted its position in shares of American Tower by 1,608.0% during the third quarter. Howe & Rusling Inc. now owns 854 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 804 shares during the period. Peddock Capital Advisors LLC acquired a new position in shares of American Tower during the second quarter worth approximately $119,000. Legacy Advisors LLC acquired a new position in shares of American Tower during the third quarter worth approximately $132,000. Glassman Wealth Services boosted its position in shares of American Tower by 28.9% during the second quarter. Glassman Wealth Services now owns 1,029 shares of the real estate investment trust’s stock worth $136,000 after buying an additional 231 shares during the period. Finally, Fieldpoint Private Securities LLC boosted its position in shares of 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 during the period. Institutional investors own 91.89% of the company’s stock.

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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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