American Tower's Preferred Stock, Series B Crosses Above 5% Yield Territory

In trading on Monday, shares of American Tower Corp's 5.50% Mandatory Convertible Preferred Stock, Series B (NYSE: AMT.PRB) were yielding above the 5% mark based on its quarterly dividend (annualized to $5.50), with shares changing hands as low as $109.50 on the day. This compares to an average yield of 6.93% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, AMT.PRB was trading at a 11.02% premium to its liquidation preference amount, versus t...