Short Interest in American Tower Co. (AMT) Decreases By 33.9%

American Tower Co. (NYSE:AMT) was the target of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 5,850,860 shares, a drop of 33.9% from the February 15th total of 8,855,192 shares. Based on an average trading volume of 2,982,551 shares, the days-to-cover ratio is presently 2.0 days. Currently, 1.4% of the company’s shares are sold short.

In other American Tower news, Director Samme L. Thompson sold 3,500 shares of American Tower stock in a transaction on Tuesday, March 20th. The stock was sold at an average price of $146.36, for a total transaction of $512,260.00. Following the completion of the transaction, the director now owns 22,125 shares in the company, valued at $3,238,215. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William H. Hess sold 28,291 shares of American Tower stock in a transaction on Monday, March 12th. The stock was sold at an average price of $145.28, for a total value of $4,110,116.48. Following the completion of the sale, the executive vice president now directly owns 92,721 shares of the company’s stock, valued at approximately $13,470,506.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,636 shares of company stock worth $4,746,448. 0.86% of the stock is owned by corporate insiders.

How to Become a New Pot Stock Millionaire

A number of institutional investors and hedge funds have recently made changes to their positions in AMT. Vident Investment Advisory LLC raised its holdings in shares of American Tower by 166.9% in the third quarter. Vident Investment Advisory LLC now owns 4,019 shares of the real estate investment trust’s stock valued at $550,000 after buying an additional 2,513 shares during the last quarter. LVM Capital Management Ltd. MI raised its holdings in shares of American Tower by 11.6% in the fourth quarter. LVM Capital Management Ltd. MI now owns 57,741 shares of the real estate investment trust’s stock valued at $8,238,000 after buying an additional 5,986 shares during the last quarter. TRUE Private Wealth Advisors raised its holdings in shares of American Tower by 148.0% in the fourth quarter. TRUE Private Wealth Advisors now owns 5,257 shares of the real estate investment trust’s stock valued at $753,000 after buying an additional 3,137 shares during the last quarter. Zions Bancorporation raised its holdings in shares of American Tower by 4,708.4% in the third quarter. Zions Bancorporation now owns 3,991 shares of the real estate investment trust’s stock valued at $546,000 after buying an additional 3,908 shares during the last quarter. Finally, Westpac Banking Corp raised its holdings in American Tower by 5.7% during the fourth quarter. Westpac Banking Corp now owns 124,810 shares of the real estate investment trust’s stock worth $17,807,000 after purchasing an additional 6,682 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently commented on the company. Zacks Investment Research upgraded American Tower from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research report on Tuesday, January 2nd. Oppenheimer upped their target price on American Tower from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, December 20th. Morgan Stanley reissued an “overweight” rating and issued a $172.00 price objective on shares of American Tower in a research note on Wednesday, December 13th. KeyCorp set a $171.00 price objective on American Tower and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, Citigroup lowered their target price on American Tower from $169.00 to $162.00 and set a “buy” rating for the company in a report on Monday, March 5th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. American Tower has an average rating of “Buy” and a consensus price target of $158.57.

American Tower stock traded down $1.92 during trading on Friday, hitting $142.16. The company had a trading volume of 1,527,390 shares, compared to its average volume of 2,418,001. American Tower has a 1-year low of $121.57 and a 1-year high of $155.28. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market capitalization of $62,671.38, a PE ratio of 22.28, a price-to-earnings-growth ratio of 1.60 and a beta of 0.78.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Wednesday, April 11th will be given a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, April 10th. This is a boost from American Tower’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a yield of 2.11%. American Tower’s payout ratio is 43.89%.

ILLEGAL ACTIVITY NOTICE: “Short Interest in American Tower Co. (AMT) Decreases By 33.9%” was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright law. The correct version of this report can be read at https://www.dispatchtribunal.com/2018/04/08/american-tower-corp-amt-short-interest-down-33-9-in-february.html.

American Tower Company Profile

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 150,000 communications sites. For more information about American Tower, please visit the ?Earnings Materials? and ?Company & Industry Resources? sections of our investor relations website at www.americantower.com.

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply