Somewhat Favorable Press Coverage Somewhat Unlikely to Impact American Tower (AMT) Stock Price
News headlines about American Tower (NYSE:AMT) have been trending somewhat positive recently, according to Accern. The research group identifies negative and positive press coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. American Tower earned a coverage optimism score of 0.14 on Accern’s scale. Accern also gave press coverage about the real estate investment trust an impact score of 46.5055716318525 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Here are some of the news stories that may have impacted Accern’s analysis:
- American Tower Corp (AMT) Expected to Announce Quarterly Sales of $1.69 Billion (americanbankingnews.com)
- Technical Indicators in Focus – American Tower Corporation (REIT) (NYSE: AMT) – Alpha Beta Stock (alphabetastock.com)
- Insider Selling: American Tower Corp (AMT) Director Sells 5,000 Shares of Stock (americanbankingnews.com)
- Focus on Momentum Mover: American Tower Corporation (REIT) (AMT) – Wall Street Morning (wallstreetmorning.com)
- Should You Buy American Tower Corporation (REIT) (NYSE:AMT)? (finance.yahoo.com)
American Tower (NYSE AMT) traded up $0.90 during mid-day trading on Friday, reaching $140.51. 2,115,500 shares of the company’s stock were exchanged, compared to its average volume of 2,010,000. 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 has a 12 month low of $102.51 and a 12 month high of $155.28. The firm has a market capitalization of $60,260.00, a PE ratio of 53.43, a P/E/G ratio of 1.46 and a beta of 0.73.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Thursday, December 28th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 1.99%. This is a boost from American Tower’s previous quarterly dividend of $0.66. American Tower’s dividend payout ratio (DPR) is presently 106.46%.
American Tower announced that its board has authorized a share repurchase program on Thursday, December 7th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the real estate investment trust to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
AMT has been the topic of several analyst reports. Argus raised their target price on shares of American Tower to $170.00 and gave the company a “buy” rating in a report on Thursday, November 9th. Zacks Investment Research raised shares of American Tower from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a report on Friday, November 3rd. Jefferies Group raised their target price on shares of American Tower from $144.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, November 1st. SunTrust Banks reaffirmed a “buy” rating on shares of American Tower in a report on Wednesday, September 20th. Finally, UBS Group raised their target price on shares of American Tower from $150.00 to $163.00 and gave the company a “buy” rating in a report on Monday, September 11th. One 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.
In other news, Director David E. Sharbutt sold 1,584 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $144.44, for a total transaction of $228,792.96. Following the transaction, the director now directly owns 4,861 shares in the company, valued at $702,122.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman James D. Taiclet, Jr. sold 34,667 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $142.52, for a total transaction of $4,940,740.84. Following the transaction, the chairman now owns 305,374 shares in the company, valued at $43,521,902.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 109,251 shares of company stock worth $15,765,734. 0.86% of the stock is owned by corporate insiders.
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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