American Tower Corporation (REIT) (AMT) Given New $165.00 Price Target at Macquarie

American Tower Corporation (REIT) (NYSE:AMT) had its price objective boosted by Macquarie from $162.00 to $165.00 in a research note published on Wednesday morning, Marketbeat.com reports. They currently have an outperform rating on the real estate investment trust’s stock.

AMT has been the topic of several other research reports. Citigroup Inc. lifted their target price on American Tower Corporation (REIT) from $142.00 to $167.00 and gave the company a buy rating in a research note on Monday, August 28th. Zacks Investment Research raised American Tower Corporation (REIT) from a sell rating to a hold rating and set a $153.00 target price on the stock in a research note on Thursday, July 27th. Royal Bank Of Canada reaffirmed a buy rating and set a $153.00 target price on shares of American Tower Corporation (REIT) in a research note on Friday, September 1st. Deutsche Bank AG lifted their target price on American Tower Corporation (REIT) from $145.00 to $157.00 and gave the company a buy rating in a research note on Friday, July 14th. Finally, BidaskClub raised American Tower Corporation (REIT) from a hold rating to a buy rating in a research note on Saturday, August 26th. Fifteen investment analysts have rated the stock with a buy rating, American Tower Corporation (REIT) currently has a consensus rating of Buy and an average target price of $154.31.

American Tower Corporation (NYSE AMT) traded down $0.34 during trading hours on Wednesday, reaching $142.10. The company had a trading volume of 1,577,242 shares, compared to its average volume of 1,998,578. American Tower Corporation has a twelve month low of $99.72 and a twelve month high of $148.71. The firm has a market cap of $60,940.44, a price-to-earnings ratio of 22.00, a P/E/G ratio of 1.67 and a beta of 0.74. The company has a quick ratio of 0.78, a current ratio of 1.42 and a debt-to-equity ratio of 2.61.

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The company also recently announced a quarterly dividend, which was paid on Tuesday, October 17th. Shareholders of record on Friday, September 29th were paid a $0.66 dividend. The ex-dividend date was Thursday, September 28th. This represents a $2.64 dividend on an annualized basis and a yield of 1.86%. This is an increase from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. American Tower Corporation (REIT)’s payout ratio is 100.38%.

In other American Tower Corporation (REIT) news, Chairman James D. Taiclet, Jr. sold 34,000 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $145.89, for a total value of $4,960,260.00. Following the completion of the sale, the chairman now owns 304,707 shares of the company’s stock, valued at $44,453,704.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Edmund Disanto sold 10,000 shares of the business’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $136.00, for a total value of $1,360,000.00. Following the completion of the sale, the executive vice president now directly owns 151,928 shares of the company’s stock, valued at approximately $20,662,208. The disclosure for this sale can be found here. Insiders sold 113,747 shares of company stock worth $16,054,543 in the last 90 days. Corporate insiders own 0.86% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Shine Investment Advisory Services Inc. acquired a new position in shares of American Tower Corporation (REIT) during the 2nd quarter worth about $100,000. Alexandria Capital LLC lifted its position in shares of American Tower Corporation (REIT) by 0.5% during the 2nd quarter. Alexandria Capital LLC now owns 812 shares of the real estate investment trust’s stock worth $107,000 after purchasing an additional 4 shares during the last quarter. Howe & Rusling Inc. lifted its position in shares of American Tower Corporation (REIT) by 1,608.0% during the 3rd quarter. Howe & Rusling Inc. now owns 854 shares of the real estate investment trust’s stock worth $117,000 after purchasing an additional 804 shares during the last quarter. Peddock Capital Advisors LLC acquired a new position in shares of American Tower Corporation (REIT) during the 2nd quarter worth about $119,000. Finally, Legacy Advisors LLC acquired a new position in shares of American Tower Corporation (REIT) during the 3rd quarter worth about $132,000. 92.05% of the stock is owned by institutional investors.

About American Tower Corporation (REIT)

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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