Raymond P. Dolan Sells 1,619 Shares of American Tower Co. (NYSE:AMT) Stock

American Tower Co. (NYSE:AMTGet Rating) Director Raymond P. Dolan sold 1,619 shares of the business’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $233.92, for a total value of $378,716.48. Following the completion of the transaction, the director now owns 17,473 shares in the company, valued at approximately $4,087,284.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

American Tower Stock Performance

Shares of AMT stock opened at $223.35 on Friday. American Tower Co. has a 12-month low of $178.17 and a 12-month high of $282.47. The firm has a market capitalization of $103.99 billion, a price-to-earnings ratio of 35.45, a price-to-earnings-growth ratio of 2.16 and a beta of 0.54. The business has a 50 day simple moving average of $217.79 and a 200 day simple moving average of $231.67. The company has a debt-to-equity ratio of 2.87, a current ratio of 0.75 and a quick ratio of 0.75.

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 2nd. Investors of record on Wednesday, December 28th will be issued a $1.56 dividend. This represents a $6.24 dividend on an annualized basis and a yield of 2.79%. This is a positive change from American Tower’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 27th. American Tower’s dividend payout ratio is 99.05%.

Wall Street Analyst Weigh In

AMT has been the topic of several recent analyst reports. StockNews.com initiated coverage on American Tower in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. UBS Group cut their price target on American Tower from $278.00 to $270.00 in a research note on Tuesday, December 13th. Raymond James boosted their price target on American Tower from $219.00 to $233.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 23rd. The Goldman Sachs Group upgraded American Tower from a “neutral” rating to a “buy” rating and upped their price objective for the company from $215.00 to $245.00 in a research note on Tuesday, January 10th. Finally, Truist Financial cut their price objective on American Tower from $325.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, January 13th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $265.18.

Hedge Funds Weigh In On American Tower

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stratos Wealth Advisors LLC grew its holdings in American Tower by 33.4% in the 4th quarter. Stratos Wealth Advisors LLC now owns 4,501 shares of the real estate investment trust’s stock worth $954,000 after buying an additional 1,128 shares in the last quarter. Quent Capital LLC lifted its position in American Tower by 22.1% in the fourth quarter. Quent Capital LLC now owns 862 shares of the real estate investment trust’s stock worth $183,000 after purchasing an additional 156 shares during the period. Crossmark Global Holdings Inc. lifted its position in American Tower by 3.2% in the fourth quarter. Crossmark Global Holdings Inc. now owns 58,560 shares of the real estate investment trust’s stock worth $12,407,000 after purchasing an additional 1,794 shares during the period. Marino Stram & Associates LLC acquired a new stake in American Tower in the fourth quarter worth approximately $607,000. Finally, Arlington Partners LLC lifted its position in American Tower by 10.4% in the fourth quarter. Arlington Partners LLC now owns 830 shares of the real estate investment trust’s stock worth $176,000 after purchasing an additional 78 shares during the period. 89.65% of the stock is owned by institutional investors.

About American Tower

(Get Rating)

American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.

Further Reading

Insider Buying and Selling by Quarter for American Tower (NYSE:AMT)

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