American Tower Corp (NYSE:AMT) EVP William H. Hess sold 28,291 shares of the stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $145.28, for a total transaction of $4,110,116.48. Following the completion of the transaction, the executive vice president now directly owns 92,721 shares in the company, valued at $13,470,506.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

American Tower Corp (NYSE AMT) opened at $146.46 on Thursday. American Tower Corp has a 52-week low of $113.95 and a 52-week high of $155.28. The stock has a market cap of $62,720.00, a P/E ratio of 55.69, a price-to-earnings-growth ratio of 1.63 and a beta of 0.80. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 2.85.

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American Tower (NYSE:AMT) last announced its earnings results on Tuesday, February 27th. The real estate investment trust reported $1.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.63 by ($0.04). American Tower had a return on equity of 17.20% and a net margin of 18.31%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the previous year, the company earned $1.52 EPS. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. sell-side analysts expect that American Tower Corp will post 7.09 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Wednesday, April 11th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Tuesday, April 10th. This is a positive change from American Tower’s previous quarterly dividend of $0.70. American Tower’s dividend payout ratio is presently 106.46%.

American Tower declared that its Board of Directors has initiated a share buyback 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 buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Several research analysts have weighed in on the stock. Citigroup lowered their price target on shares of American Tower from $169.00 to $162.00 and set a “buy” rating on the stock in a report on Monday, March 5th. KeyCorp set a $171.00 price target on shares of American Tower and gave the company a “buy” rating in a report on Tuesday, February 27th. Zacks Investment Research cut shares of American Tower from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. Oppenheimer increased their price target on shares of American Tower from $155.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, December 20th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $172.00 price target on shares of American Tower in a report on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $157.87.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Investment Centers of America Inc. boosted its position in shares of American Tower by 5.6% during the 3rd quarter. Investment Centers of America Inc. now owns 6,495 shares of the real estate investment trust’s stock worth $887,000 after acquiring an additional 343 shares in the last quarter. IFM Investors Pty Ltd boosted its position in shares of American Tower by 3.0% during the 3rd quarter. IFM Investors Pty Ltd now owns 11,978 shares of the real estate investment trust’s stock worth $1,637,000 after acquiring an additional 353 shares in the last quarter. Security National Trust Co. boosted its position in shares of American Tower by 7.7% during the 4th quarter. Security National Trust Co. now owns 5,035 shares of the real estate investment trust’s stock worth $718,000 after acquiring an additional 360 shares in the last quarter. ETRADE Capital Management LLC boosted its position in shares of American Tower by 9.5% during the 4th quarter. ETRADE Capital Management LLC now owns 4,253 shares of the real estate investment trust’s stock worth $607,000 after acquiring an additional 368 shares in the last quarter. Finally, CAPROCK Group Inc. boosted its position in shares of American Tower by 19.2% during the 4th quarter. CAPROCK Group Inc. now owns 2,352 shares of the real estate investment trust’s stock worth $313,000 after acquiring an additional 379 shares in the last quarter. Institutional investors and hedge funds own 92.52% of the company’s stock.

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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.

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

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