American Tower Co. (NYSE:AMT – Get Rating) CFO Rodney M. Smith sold 1,574 shares of the stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $233.92, for a total value of $368,190.08. Following the sale, the chief financial officer now directly owns 47,071 shares in the company, valued at approximately $11,010,848.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
American Tower Stock Performance
Shares of NYSE:AMT opened at $221.41 on Friday. The firm has a market capitalization of $103.09 billion, a PE ratio of 35.14, a P/E/G ratio of 2.16 and a beta of 0.54. American Tower Co. has a 12 month low of $178.17 and a 12 month high of $282.47. The company has a debt-to-equity ratio of 2.87, a current ratio of 0.75 and a quick ratio of 0.75. The business has a 50-day moving average of $217.75 and a two-hundred day moving average of $231.42.
American Tower Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 2nd. Investors of record on Wednesday, December 28th will be given a dividend of $1.56 per share. This represents a $6.24 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Tuesday, December 27th. This is an increase from American Tower’s previous quarterly dividend of $1.47. American Tower’s dividend payout ratio is 99.05%.
Institutional Inflows and Outflows
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on AMT shares. Deutsche Bank Aktiengesellschaft raised shares of American Tower from a “hold” rating to a “buy” rating and raised their price target for the stock from $240.00 to $254.00 in a research note on Thursday, January 12th. Royal Bank of Canada decreased their target price on shares of American Tower from $265.00 to $240.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 1st. Credit Suisse Group cut their price target on American Tower to $251.00 in a report on Thursday, October 27th. The Goldman Sachs Group upgraded American Tower from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $215.00 to $245.00 in a report on Tuesday, January 10th. Finally, Truist Financial dropped their target price on American Tower from $325.00 to $275.00 and set a “buy” rating for the company 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $265.18.
About American Tower
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.
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