News stories about American Tower (NYSE:AMT) have been trending somewhat positive this week, according to Accern Sentiment. Accern rates the sentiment of media coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. American Tower earned a news impact score of 0.17 on Accern’s scale. Accern also gave media coverage about the real estate investment trust an impact score of 47.1541751516136 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
These are some of the news headlines that may have impacted Accern Sentiment’s rankings:
- Technical Indicator Analysis for American Tower Corporation (NYSE:AMT) – The Oracle Examiner (oracleexaminer.com)
- American Tower Corporation (REIT) (NYSE: AMT) – Hot Stock’s Highlights – Alpha Beta Stock (alphabetastock.com)
- American Tower (AMT) Board of Directors Initiates Stock Buyback Program (americanbankingnews.com)
- American Tower Corp Expected to Post Q3 2018 Earnings of $1.90 Per Share (AMT) (americanbankingnews.com)
- Daily Dividend Report: AMT, CME, WPC, TTC, VZ, PM, GD – Nasdaq (nasdaq.com)
Shares of American Tower (NYSE:AMT) traded down $1.63 during midday trading on Friday, hitting $142.47. The company had a trading volume of 1,700,000 shares, compared to its average volume of 2,170,000. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.61. The firm has a market capitalization of $61,100.00, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. American Tower has a twelve month low of $102.43 and a twelve month high of $155.28.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Thursday, December 28th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.97%. This is a positive change from American Tower’s previous quarterly dividend of $0.66. The ex-dividend date is Wednesday, December 27th. American Tower’s dividend payout ratio is presently 100.38%.
American Tower announced that its Board of Directors has authorized a share repurchase plan on Thursday, December 7th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
AMT has been the topic of several research reports. Royal Bank Of Canada restated a “buy” rating and issued a $153.00 price target on shares of American Tower in a report on Friday, September 1st. Citigroup lifted their price objective on shares of American Tower from $142.00 to $167.00 and gave the company a “buy” rating in a research note on Monday, August 28th. UBS lifted their price objective on shares of American Tower from $150.00 to $163.00 and gave the company a “buy” rating in a research note on Monday, September 11th. BidaskClub upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Finally, Argus lifted their price target on shares of American Tower to $170.00 and gave the stock a “buy” rating in a research note on Thursday, November 9th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. American Tower presently has an average rating of “Buy” and an average price target of $158.50.
In other news, EVP Edmund Disanto sold 10,000 shares of the stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $137.95, for a total transaction of $1,379,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of the stock in a transaction on Monday, October 16th. The stock was sold at an average price of $139.40, for a total value of $4,739,600.00. Following the sale, the chairman now owns 304,707 shares in the company, valued at approximately $42,476,155.80. The disclosure for this sale can be found here. Insiders sold 122,000 shares of company stock worth $17,580,160 over the last quarter. Company insiders own 0.86% 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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