Romano Brothers AND Company Trims Holdings in American Tower Co. (NYSE:AMT)

Romano Brothers AND Company reduced its stake in American Tower Co. (NYSE:AMT) by 6.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,085 shares of the real estate investment trust’s stock after selling 75 shares during the quarter. Romano Brothers AND Company’s holdings in American Tower were worth $252,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Fairscale Capital LLC acquired a new stake in American Tower during the second quarter worth about $27,000. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower during the 3rd quarter worth approximately $30,000. Cultivar Capital Inc. purchased a new stake in shares of American Tower during the 2nd quarter valued at approximately $25,000. Hobbs Group Advisors LLC acquired a new position in American Tower in the second quarter valued at approximately $29,000. Finally, Family Firm Inc. purchased a new position in American Tower in the second quarter worth approximately $35,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

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

American Tower Trading Down 0.2 %

AMT opened at $225.88 on Friday. The business has a fifty day moving average price of $228.58 and a 200 day moving average price of $207.19. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. American Tower Co. has a 12 month low of $160.49 and a 12 month high of $243.56. The stock has a market capitalization of $105.50 billion, a price-to-earnings ratio of 42.46, a PEG ratio of 1.08 and a beta of 0.83.

American Tower (NYSE:AMT) last announced 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). The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.46 earnings per share. Sell-side analysts expect that American Tower Co. will post 10.12 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be given a dividend of $1.62 per share. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 2.87%. American Tower’s dividend payout ratio (DPR) is currently 121.80%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AMT shares. Barclays lifted their target price on American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. upped their target price on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Scotiabank boosted their price target on shares of American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 31st. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Finally, Royal Bank of Canada boosted their target price on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $237.92.

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.