Traders Sell Shares of American Tower (AMT) on Strength After Insider Selling

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Traders sold shares of American Tower Corp (NYSE:AMT) on strength during trading on Friday following insider selling activity. $45.45 million flowed into the stock on the tick-up and $101.12 million flowed out of the stock on the tick-down, for a money net flow of $55.67 million out of the stock. Of all stocks tracked, American Tower had the 25th highest net out-flow for the day. American Tower traded up $1.74 for the day and closed at $192.91Specifically, CEO James D. Taiclet, Jr. sold 8,580 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $190.73, for a total transaction of $1,636,463.40. Following the transaction, the chief executive officer now owns 197,976 shares of the company’s stock, valued at approximately $37,759,962.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James D. Taiclet, Jr. sold 11,863 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $195.88, for a total value of $2,323,724.44. The disclosure for this sale can be found here. Insiders sold a total of 109,769 shares of company stock valued at $20,884,766 in the last 90 days. Corporate insiders own 0.87% of the company’s stock.

A number of research analysts have recently commented on the company. Bank of America upped their price target on American Tower from $172.00 to $208.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Morgan Stanley upped their price target on American Tower from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Monday, March 11th. Wells Fargo & Co cut American Tower from an “outperform” rating to a “market perform” rating and upped their price target for the company from $190.00 to $196.00 in a research report on Monday. They noted that the move was a valuation call. Oppenheimer cut American Tower from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 28th. Finally, KeyCorp upped their price target on American Tower from $180.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, February 28th. They noted that the move was a valuation call. Twelve equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. American Tower has an average rating of “Hold” and an average price target of $177.25.

The firm has a market capitalization of $85.10 billion, a PE ratio of 24.14, a PEG ratio of 1.65 and a beta of 0.68. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 3.12.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Wednesday, February 27th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($1.63). The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.03 billion. American Tower had a return on equity of 19.86% and a net margin of 16.62%. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same period last year, the company posted $0.51 EPS. Analysts anticipate that American Tower Corp will post 7.53 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Thursday, April 11th will be issued a dividend of $0.90 per share. This is a boost from American Tower’s previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, April 10th. This represents a $3.60 dividend on an annualized basis and a yield of 1.87%. American Tower’s dividend payout ratio is 45.06%.

Institutional investors and hedge funds have recently modified their holdings of the stock. Ruggie Capital Group raised its holdings in shares of American Tower by 113.3% in the 4th quarter. Ruggie Capital Group now owns 546 shares of the real estate investment trust’s stock valued at $86,000 after acquiring an additional 290 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of American Tower by 3.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 20,035 shares of the real estate investment trust’s stock valued at $3,169,000 after acquiring an additional 585 shares in the last quarter. Prospect Capital Advisors LLC raised its holdings in shares of American Tower by 1.0% in the 4th quarter. Prospect Capital Advisors LLC now owns 67,545 shares of the real estate investment trust’s stock valued at $10,685,000 after acquiring an additional 650 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of American Tower by 12.4% in the 1st quarter. Nisa Investment Advisors LLC now owns 205,747 shares of the real estate investment trust’s stock valued at $40,545,000 after acquiring an additional 22,765 shares in the last quarter. Finally, Shelton Capital Management raised its holdings in shares of American Tower by 22.4% in the 4th quarter. Shelton Capital Management now owns 5,130 shares of the real estate investment trust’s stock valued at $812,000 after acquiring an additional 940 shares in the last quarter. 94.76% of the stock is currently owned by institutional investors and hedge funds.

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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 over 170,000 communications sites.

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