News stories about American Tower (NYSE:AMT) have trended somewhat positive this week, according to Accern. The research firm scores the sentiment of media coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. American Tower earned a daily sentiment score of 0.19 on Accern’s scale. Accern also assigned news coverage about the real estate investment trust an impact score of 46.6289040034173 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
These are some of the media stories that may have impacted Accern Sentiment Analysis’s analysis:
- American Tower Corporation (REIT) (NYSE:AMT) – P/E to Consider – Nasdaq Journal (press release) (nasdaqjournal.com)
- American Tower Becomes Oversold (nasdaq.com)
- Is the Stock Safe to Invest?: American Tower Corporation (NYSE: AMT) – Alpha Beta Stock (alphabetastock.com)
- Do technicals still doubt? American Tower Corporation (REIT) (AMT), The TJX Companies, Inc. (TJX) – Market Movers (financialqz.com)
- REIT Industry Stock Outlook – January 2018 (finance.yahoo.com)
A number of research firms have issued reports on AMT. Argus raised their price target on shares of American Tower to $170.00 and gave the stock a “buy” rating in a research report on Thursday, November 9th. Zacks Investment Research lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. ValuEngine raised shares of American Tower from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Morgan Stanley raised their price objective on shares of American Tower from $155.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 14th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $177.00 price objective (up previously from $156.00) on shares of American Tower in a research note on Monday, November 27th. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $158.60.
Shares of American Tower (NYSE:AMT) opened at $133.00 on Friday. The stock has a market cap of $57,037.85, a PE ratio of 20.59, a P/E/G ratio of 1.38 and a beta of 0.73. American Tower has a fifty-two week low of $102.73 and a fifty-two week high of $155.28. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.42 and a quick ratio of 1.42.
American Tower announced that its Board of Directors has initiated a stock 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 purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Thursday, December 28th will be issued a $0.70 dividend. This is a positive change from American Tower’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, December 27th. American Tower’s payout ratio is 106.46%.
In other American Tower news, Chairman James D. Taiclet, Jr. sold 34,000 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $139.40, for a total transaction of $4,739,600.00. Following the sale, the chairman now directly owns 304,707 shares in the company, valued at $42,476,155.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David E. Sharbutt sold 1,584 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $144.44, for a total value of $228,792.96. Following the transaction, the director now directly owns 4,861 shares of the company’s stock, valued at $702,122.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,251 shares of company stock worth $15,765,734. 0.86% of the stock is owned by insiders.
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.
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