Traders Buy American Tower (AMT) on Weakness

Traders purchased shares of American Tower Co. (NYSE:AMT) on weakness during trading on Tuesday. $158.19 million flowed into the stock on the tick-up and $53.24 million flowed out of the stock on the tick-down, for a money net flow of $104.95 million into the stock. Of all stocks tracked, American Tower had the 7th highest net in-flow for the day. American Tower traded down ($1.59) for the day and closed at $136.70

Several equities research analysts recently issued reports on the company. Morgan Stanley dropped their price objective on American Tower from $161.00 to $157.00 and set an “overweight” rating for the company in a research note on Friday, March 16th. Citigroup dropped their price objective on American Tower from $169.00 to $162.00 and set a “buy” rating for the company in a research note on Monday, March 5th. Zacks Investment Research raised American Tower from a “sell” rating to a “hold” rating in a research note on Tuesday, April 3rd. ValuEngine lowered American Tower from a “buy” rating to a “hold” rating in a research note on Friday, April 27th. Finally, KeyCorp set a $171.00 price objective on American Tower and gave the company a “buy” rating in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $160.38.

The company has a debt-to-equity ratio of 2.68, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $60.37 billion, a PE ratio of 21.39, a PEG ratio of 1.54 and a beta of 0.77.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, May 1st. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.68 by ($1.05). American Tower had a return on equity of 17.03% and a net margin of 17.51%. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm earned $1.68 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. equities analysts predict that American Tower Co. will post 7.05 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, April 27th. Shareholders of record on Wednesday, April 11th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, April 10th. This represents a $3.00 annualized dividend and a yield of 2.20%. This is a positive change from American Tower’s previous quarterly dividend of $0.70. American Tower’s payout ratio is 47.02%.

In other news, EVP William H. Hess sold 28,291 shares of the business’s stock in a transaction dated 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 owns 92,721 shares of the company’s stock, valued at approximately $13,470,506.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Amit Sharma sold 32,943 shares of the business’s stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $138.82, for a total value of $4,573,147.26. Following the completion of the sale, the executive vice president now directly owns 111,558 shares of the company’s stock, valued at approximately $15,486,481.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,579 shares of company stock valued at $9,319,595. Corporate insiders own 0.87% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMT. Pinebridge Investments L.P. bought a new stake in shares of American Tower in the 4th quarter valued at about $182,000. Signaturefd LLC bought a new stake in shares of American Tower in the 1st quarter valued at about $182,000. Centaurus Financial Inc. bought a new stake in shares of American Tower in the 1st quarter valued at about $197,000. SNS Financial Group LLC bought a new stake in shares of American Tower in the 4th quarter valued at about $201,000. Finally, Resources Investment Advisors Inc. lifted its stake in shares of American Tower by 51.1% in the 4th quarter. Resources Investment Advisors Inc. now owns 1,428 shares of the real estate investment trust’s stock valued at $203,000 after acquiring an additional 483 shares during the last quarter. 89.74% of the stock is owned by institutional investors.

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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