NBC Securities Inc. Lowers Holdings in American Tower Co. (NYSE:AMT)

NBC Securities Inc. trimmed its position in shares of American Tower Co. (NYSE:AMT) by 2.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,692 shares of the real estate investment trust’s stock after selling 78 shares during the quarter. NBC Securities Inc.’s holdings in American Tower were worth $626,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new stake in American Tower during the 1st quarter valued at $25,000. Cultivar Capital Inc. bought a new position in American Tower during the second quarter valued at approximately $25,000. Fairscale Capital LLC purchased a new position in shares of American Tower in the second quarter valued at $27,000. Hobbs Group Advisors LLC purchased a new position in American Tower in the second quarter worth about $29,000. Finally, SOA Wealth Advisors LLC. bought a new stake in American Tower in the first quarter worth $30,000. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on AMT. BMO Capital Markets boosted their target price on American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, September 13th. Royal Bank of Canada boosted their price objective on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. The Goldman Sachs Group initiated coverage on American Tower in a report on Monday, July 1st. They set a “buy” rating and a $230.00 target price for the company. Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $237.92.

Insider Activity

In other news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the sale, the chief executive officer now owns 61,843 shares in the company, valued at $14,223,890. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the sale, the executive vice president now owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,723 shares of company stock worth $7,795,397 over the last three months. 0.18% of the stock is currently owned by corporate insiders.

American Tower Price Performance

Shares of AMT opened at $224.16 on Friday. The company has a market capitalization of $104.68 billion, a P/E ratio of 50.71, a P/E/G ratio of 1.01 and a beta of 0.83. The business’s 50-day moving average is $228.55 and its two-hundred day moving average is $206.18. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81. American Tower Co. has a fifty-two week low of $157.25 and a fifty-two week high of $243.56.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the business earned $2.46 EPS. American Tower’s revenue for the quarter was up 4.7% compared to the same quarter last year. Research analysts predict that American Tower Co. will post 10.13 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 2.89%. The ex-dividend date is Wednesday, October 9th. American Tower’s payout ratio is currently 146.61%.

American Tower Company Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.