Headlines about American Tower (NYSE:AMT) have been trending somewhat positive on Saturday, according to Accern Sentiment. The research firm identifies positive and negative news coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. American Tower earned a media sentiment score of 0.22 on Accern’s scale. Accern also assigned news headlines about the real estate investment trust an impact score of 46.6742813465989 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
American Tower (AMT) traded up $3.80 during trading on Friday, reaching $140.02. 2,925,613 shares of the company traded hands, compared to its average volume of 2,940,000. The stock has a market cap of $60,050.00, a price-to-earnings ratio of 53.24, a price-to-earnings-growth ratio of 1.29 and a beta of 0.77. American Tower has a one year low of $107.66 and a one year high of $155.28. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.61.
American Tower announced that its board has initiated a stock buyback program on Thursday, December 7th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
Several equities research analysts have recently commented on AMT shares. ValuEngine raised shares of American Tower from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Zacks Investment Research lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Oppenheimer upped their price target on shares of American Tower from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, December 20th. Morgan Stanley upped their price target on shares of American Tower from $155.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, November 14th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $177.00 price target (up previously from $156.00) on shares of American Tower in a research report on Monday, November 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have assigned a buy rating to the stock. American Tower has an average rating of “Buy” and an average target price of $158.60.
In related news, Director Samme L. Thompson sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $143.16, for a total value of $715,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman James D. Taiclet, Jr. sold 34,667 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $142.52, for a total transaction of $4,940,740.84. Following the completion of the sale, the chairman now directly owns 305,374 shares of the company’s stock, valued at $43,521,902.48. The disclosure for this sale can be found here. Insiders sold a total of 41,251 shares of company stock valued at $5,885,334 over the last three months. 0.86% of the stock is currently owned by insiders.
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About American Tower
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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