Somewhat Favorable News Coverage Somewhat Unlikely to Affect American Tower (AMT) Share Price

Press coverage about American Tower (NYSE:AMT) has been trending somewhat positive this week, according to Accern Sentiment. Accern identifies negative and positive news 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 nearest to one being the most favorable. American Tower earned a coverage optimism score of 0.19 on Accern’s scale. Accern also assigned news headlines about the real estate investment trust an impact score of 46.6289040034173 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.

These are some of the media stories that may have effected Accern Sentiment Analysis’s rankings:

AMT has been the subject of several recent research reports. BidaskClub upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Citigroup upped their price objective on shares of American Tower from $142.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, August 28th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $153.00 price objective on shares of American Tower in a report on Friday, September 1st. UBS upped their price objective on shares of American Tower from $150.00 to $163.00 and gave the stock a “buy” rating in a report on Monday, September 11th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $144.00 price objective on shares of American Tower in a report on Tuesday, September 12th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. American Tower currently has a consensus rating of “Buy” and a consensus price target of $158.60.

Shares of American Tower (NYSE AMT) traded up $1.05 on Friday, hitting $140.66. The stock had a trading volume of 3,069,056 shares, compared to its average volume of 1,991,776. The firm has a market cap of $60,230.00, a P/E ratio of 21.70, a price-to-earnings-growth ratio of 1.65 and a beta of 0.72. American Tower has a one year low of $102.51 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 declared that its board has approved a share repurchase program on Thursday, December 7th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Thursday, December 28th will be issued a $0.70 dividend. This is an increase from American Tower’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Wednesday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.99%. American Tower’s dividend payout ratio is currently 100.38%.

In related news, EVP Edmund Disanto sold 10,000 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 151,928 shares in the company, valued at $20,662,208. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $151.20, for a total value of $5,140,800.00. The disclosure for this sale can be found here. Insiders sold 114,251 shares of company stock worth $16,409,934 in the last 90 days. 0.86% of the stock is currently owned by corporate insiders.

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American Tower Company Profile

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.

Insider Buying and Selling by Quarter for American Tower (NYSE:AMT)

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