Investors Sell Shares of American Tower (AMT) on Strength (AMT)

Traders sold shares of American Tower Corp (NYSE:AMT) on strength during trading on Wednesday. $42.68 million flowed into the stock on the tick-up and $84.97 million flowed out of the stock on the tick-down, for a money net flow of $42.29 million out of the stock. Of all stocks tracked, American Tower had the 0th highest net out-flow for the day. American Tower traded up $0.99 for the day and closed at $146.68

A number of equities research analysts recently weighed in on AMT shares. Argus upped their price target on American Tower from $154.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, August 20th. Morgan Stanley increased their target price on American Tower from $154.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, August 16th. Raymond James cut American Tower from an “outperform” rating to a “market perform” rating in a report on Monday, July 9th. SunTrust Banks restated a “buy” rating and set a $167.00 price objective on shares of American Tower in a report on Friday, July 20th. Finally, Guggenheim cut American Tower from a “buy” rating to a “neutral” rating and set a $135.00 price objective on the stock. in a report on Monday, July 16th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. American Tower currently has an average rating of “Buy” and a consensus target price of $162.14.

The company has a debt-to-equity ratio of 2.99, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market cap of $64.66 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 1.57 and a beta of 0.80.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 31st. The real estate investment trust reported $0.69 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($1.04). The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.75 billion. American Tower had a net margin of 16.34% and a return on equity of 16.72%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm posted $1.58 EPS. On average, research analysts forecast that American Tower Corp will post 7.1 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 17th. Stockholders of record on Friday, September 28th were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Thursday, September 27th. This is a boost from American Tower’s previous quarterly dividend of $0.77. American Tower’s payout ratio is 49.53%.

In other news, Chairman James D. Taiclet, Jr. sold 43,808 shares of American Tower stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $150.65, for a total transaction of $6,599,675.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Pamela D. A. Reeve sold 7,152 shares of American Tower stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $148.92, for a total value of $1,065,075.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 80,281 shares of company stock worth $12,014,625. Corporate insiders own 0.87% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMT. Mount Yale Investment Advisors LLC raised its holdings in American Tower by 354.4% during the second quarter. Mount Yale Investment Advisors LLC now owns 718 shares of the real estate investment trust’s stock worth $104,000 after purchasing an additional 560 shares in the last quarter. Kaizen Advisory LLC raised its holdings in American Tower by 140.6% during the second quarter. Kaizen Advisory LLC now owns 1,008 shares of the real estate investment trust’s stock worth $145,000 after purchasing an additional 589 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in American Tower by 75.0% during the second quarter. Valeo Financial Advisors LLC now owns 1,029 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 441 shares in the last quarter. Sun Life Financial INC raised its holdings in American Tower by 311.3% during the second quarter. Sun Life Financial INC now owns 1,197 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 906 shares in the last quarter. Finally, RMR Advisors LLC bought a new stake in American Tower during the second quarter worth approximately $173,000. 93.21% of the stock is currently owned by institutional investors.

American Tower Company Profile (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 approximately 170,000 communications sites.

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