Investors Buy Shares of American Tower Corporation (REIT) (AMT) on Weakness

Investors bought shares of American Tower Corporation (REIT) (NYSE:AMT) on weakness during trading hours on Tuesday. $58.44 million flowed into the stock on the tick-up and $33.37 million flowed out of the stock on the tick-down, for a money net flow of $25.07 million into the stock. Of all stocks tracked, American Tower Corporation (REIT) had the 30th highest net in-flow for the day. American Tower Corporation (REIT) traded down ($0.46) for the day and closed at $139.13

Several equities analysts have commented on AMT shares. Cowen and Company reissued a “buy” rating and set a $155.00 target price on shares of American Tower Corporation (REIT) in a research note on Wednesday, July 19th. Zacks Investment Research raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 target price on the stock in a research note on Thursday, August 3rd. BidaskClub cut shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. SunTrust Banks, Inc. reissued a “buy” rating on shares of American Tower Corporation (REIT) in a research note on Wednesday, September 20th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $144.00 target price on shares of American Tower Corporation (REIT) in a research note on Tuesday, September 12th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $148.58.

The firm has a market cap of $59.71 billion, a P/E ratio of 55.65 and a beta of 0.69. The stock has a 50-day moving average of $141.41 and a 200 day moving average of $133.81.

American Tower Corporation (REIT) (NYSE:AMT) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.75). American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the company posted $1.38 earnings per share. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. Equities analysts expect that American Tower Corporation will post $3.03 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Friday, September 29th will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, September 28th. This is an increase from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. This represents a $2.64 dividend on an annualized basis and a yield of 1.90%. American Tower Corporation (REIT)’s dividend payout ratio is presently 106.02%.

In other American Tower Corporation (REIT) news, EVP Edmund Disanto sold 10,000 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $136.00, for a total transaction of $1,360,000.00. Following the transaction, the executive vice president now directly owns 151,928 shares in the company, valued at approximately $20,662,208. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $145.89, for a total transaction of $4,960,260.00. Following the transaction, the chairman now owns 304,707 shares in the company, valued at $44,453,704.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,747 shares of company stock worth $11,314,943. Corporate insiders own 0.86% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of American Tower Corporation (REIT) by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 28,442,502 shares of the real estate investment trust’s stock valued at $3,763,512,000 after acquiring an additional 881,020 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of American Tower Corporation (REIT) by 8.4% in the 1st quarter. Wellington Management Group LLP now owns 21,788,278 shares of the real estate investment trust’s stock valued at $2,648,146,000 after acquiring an additional 1,679,615 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of American Tower Corporation (REIT) by 1,886.3% in the 2nd quarter. Janus Henderson Group PLC now owns 7,468,416 shares of the real estate investment trust’s stock valued at $988,214,000 after acquiring an additional 7,092,413 shares during the last quarter. Northern Trust Corp increased its stake in shares of American Tower Corporation (REIT) by 9.2% in the 2nd quarter. Northern Trust Corp now owns 6,566,346 shares of the real estate investment trust’s stock valued at $868,858,000 after acquiring an additional 550,608 shares during the last quarter. Finally, Edgewood Management LLC increased its stake in shares of American Tower Corporation (REIT) by 2.6% in the 1st quarter. Edgewood Management LLC now owns 5,925,839 shares of the real estate investment trust’s stock valued at $720,226,000 after acquiring an additional 151,527 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

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American Tower Corporation (REIT) Company Profile

American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

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