American Tower Co. (NYSE:AMT) CFO Rodney M. Smith Sells 1,574 Shares

American Tower Co. (NYSE:AMTGet 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

Hedge funds and other institutional investors have recently bought and sold shares of the business. EWG Elevate Inc. purchased a new position in shares of American Tower in the 4th quarter valued at $25,000. Charter Oak Capital Management LLC acquired a new stake in American Tower in the 2nd quarter valued at $26,000. Canton Hathaway LLC purchased a new position in American Tower in the second quarter valued at about $29,000. Pinnacle Holdings LLC acquired a new position in shares of American Tower during the first quarter worth about $29,000. Finally, Activest Wealth Management boosted its position in shares of American Tower by 379.3% in the third quarter. Activest Wealth Management now owns 139 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 110 shares during the period. 89.65% of the stock is owned by institutional investors and hedge funds.

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

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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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