Samme L. Thompson Sells 5,000 Shares of American Tower Corp (AMT) Stock
American Tower Corp (NYSE:AMT) Director Samme L. Thompson sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $143.16, for a total transaction of $715,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of American Tower Corp (AMT) opened at $140.51 on Friday. American Tower Corp has a 52 week low of $102.51 and a 52 week high of $155.28. The firm has a market cap of $59,872.59, a P/E ratio of 21.61, a P/E/G ratio of 1.45 and a beta of 0.73. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.61.
American Tower announced that its Board of Directors has authorized a stock repurchase 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 purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Thursday, December 28th will be paid a dividend of $0.70 per share. This is an increase from American Tower’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a yield of 1.99%. The ex-dividend date is Wednesday, December 27th. American Tower’s dividend payout ratio is presently 106.46%.
Large investors have recently made changes to their positions in the business. Howe & Rusling Inc. increased its position in shares of American Tower by 1,608.0% in the 3rd 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 during the last quarter. Legacy Advisors LLC purchased a new stake in shares of American Tower in the 3rd quarter valued at approximately $132,000. Fieldpoint Private Securities LLC increased its position in shares of American Tower by 69.6% in the 3rd quarter. Fieldpoint Private Securities LLC now owns 1,060 shares of the real estate investment trust’s stock valued at $145,000 after purchasing an additional 435 shares during the last quarter. Americafirst Capital Management LLC purchased a new stake in shares of American Tower in the 3rd quarter valued at approximately $173,000. Finally, Laurel Wealth Advisors Inc. acquired a new position in shares of American Tower in the 3rd quarter valued at $202,000. 91.60% of the stock is currently owned by institutional investors.
AMT has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of American Tower from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a research note on Friday, November 3rd. KeyCorp set a $156.00 price target on shares of American Tower and gave the company an “overweight” rating in a research note on Wednesday, November 1st. Morgan Stanley reissued an “overweight” rating and issued a $172.00 price target on shares of American Tower in a research note on Wednesday, December 13th. Oppenheimer boosted their price target on shares of American Tower from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, December 20th. Finally, ValuEngine raised shares of American Tower from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. One research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. American Tower currently has a consensus rating of “Buy” and an average target price of $158.60.
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About American Tower
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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