American Tower Corporation (REIT) (NYSE:AMT)’s share price shot up 5.7% during mid-day trading on Tuesday . The company traded as high as $150.96 and last traded at $150.16. 3,936,627 shares changed hands during trading, an increase of 91% from the average session volume of 2,060,000 shares. The stock had previously closed at $142.10.

A number of research firms have issued reports on AMT. Jefferies Group LLC increased their target price on American Tower Corporation (REIT) from $144.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Macquarie increased their target price on American Tower Corporation (REIT) from $162.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, November 1st. KeyCorp set a $156.00 target price on American Tower Corporation (REIT) and gave the stock an “overweight” rating in a report on Wednesday, November 1st. Zacks Investment Research upgraded American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 target price for the company in a report on Thursday, August 3rd. Finally, Cowen and Company reiterated a “buy” rating on shares of American Tower Corporation (REIT) in a report on Tuesday, October 24th. Fifteen equities research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus price target of $154.31.

The company has a market cap of $63,710.00, a P/E ratio of 22.00, a PEG ratio of 1.67 and a beta of 0.74. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.42 and a current ratio of 1.42.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 17th. Investors of record on Friday, September 29th were paid a $0.66 dividend. This is an increase from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. This represents a $2.64 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Thursday, September 28th. American Tower Corporation (REIT)’s dividend payout ratio (DPR) is 100.38%.

In related news, Director Pamela D. A. Reeve sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $143.49, for a total value of $717,450.00. Following the completion of the sale, the director now directly owns 17,758 shares in the company, valued at approximately $2,548,095.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Amit Sharma sold 20,747 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $139.67, for a total transaction of $2,897,733.49. Following the completion of the sale, the executive vice president now owns 101,605 shares of the company’s stock, valued at $14,191,170.35. The disclosure for this sale can be found here. Insiders sold a total of 113,747 shares of company stock valued at $16,054,543 over the last quarter. 0.86% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of AMT. Shine Investment Advisory Services Inc. acquired a new stake in American Tower Corporation (REIT) in the 2nd quarter valued at about $100,000. Alexandria Capital LLC lifted its position in American Tower Corporation (REIT) by 0.5% during the second quarter. Alexandria Capital LLC now owns 812 shares of the real estate investment trust’s stock worth $107,000 after acquiring an additional 4 shares during the last quarter. Howe & Rusling Inc. lifted its position in American Tower Corporation (REIT) by 1,608.0% during the third quarter. Howe & Rusling Inc. now owns 854 shares of the real estate investment trust’s stock worth $117,000 after acquiring an additional 804 shares during the last quarter. Peddock Capital Advisors LLC acquired a new stake in American Tower Corporation (REIT) during the second quarter worth approximately $119,000. Finally, Legacy Advisors LLC acquired a new stake in American Tower Corporation (REIT) during the third quarter worth approximately $132,000. Institutional investors and hedge funds own 92.01% of the company’s stock.

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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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