American Tower Corp (NYSE:AMT) has received a consensus rating of “Buy” from the nineteen brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $158.77.
AMT has been the topic of a number of research reports. ValuEngine upgraded shares of American Tower from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Zacks Investment Research downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Oppenheimer lifted their price target on shares of American Tower from $155.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, December 20th. Morgan Stanley lifted their price target on shares of American Tower from $155.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, November 14th. Finally, KeyCorp reiterated an “overweight” rating and issued a $177.00 price target (up from $156.00) on shares of American Tower in a report on Monday, November 27th.
American Tower (AMT) opened at $140.02 on Tuesday. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.42 and a current ratio of 1.42. American Tower has a one year low of $107.66 and a one year high of $155.28. The firm has a market cap of $60,050.00, a price-to-earnings ratio of 53.24, a P/E/G ratio of 1.33 and a beta of 0.77.
American Tower announced that its board has authorized a share repurchase program on Thursday, December 7th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other news, Director Samme L. Thompson sold 5,000 shares of the business’s stock in a transaction dated 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 filing with the SEC, which is available through the SEC website. Also, Chairman James D. Taiclet, Jr. sold 34,667 shares of the business’s stock in a transaction dated 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 owns 305,374 shares in the company, valued at $43,521,902.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,251 shares of company stock worth $5,885,334. Insiders own 0.86% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC increased its holdings in shares of American Tower by 5.4% in the 3rd quarter. Janus Henderson Group PLC now owns 7,868,533 shares of the real estate investment trust’s stock worth $1,075,458,000 after buying an additional 400,117 shares during the last quarter. Edgewood Management LLC grew its holdings in American Tower by 1.6% during the 3rd quarter. Edgewood Management LLC now owns 6,326,717 shares of the real estate investment trust’s stock valued at $864,736,000 after purchasing an additional 99,052 shares during the last quarter. Geode Capital Management LLC grew its holdings in American Tower by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 4,113,653 shares of the real estate investment trust’s stock valued at $585,539,000 after purchasing an additional 136,669 shares during the last quarter. American Century Companies Inc. grew its holdings in American Tower by 1.5% during the 4th quarter. American Century Companies Inc. now owns 3,248,232 shares of the real estate investment trust’s stock valued at $463,425,000 after purchasing an additional 46,708 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in American Tower by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,164,598 shares of the real estate investment trust’s stock valued at $432,537,000 after purchasing an additional 166,910 shares during the last quarter. Hedge funds and other institutional investors own 92.19% of the company’s stock.
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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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