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.
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%.
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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.
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