American Tower Co. (NYSE:AMT) Shares Sold by Allworth Financial LP

Allworth Financial LP cut its holdings in American Tower Co. (NYSE:AMT) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,214 shares of the real estate investment trust’s stock after selling 190 shares during the period. Allworth Financial LP’s holdings in American Tower were worth $1,678,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AMT. NBT Bank N A NY boosted its position in American Tower by 3.3% in the 2nd quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock valued at $329,000 after buying an additional 54 shares during the last quarter. CX Institutional increased its stake in shares of American Tower by 2.9% in the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after purchasing an additional 54 shares during the period. O Brien Greene & Co. Inc increased its stake in shares of American Tower by 2.3% in the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock valued at $481,000 after purchasing an additional 55 shares during the period. CFO4Life Group LLC increased its stake in shares of American Tower by 5.4% in the first quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $221,000 after purchasing an additional 57 shares during the period. Finally, Tyche Wealth Partners LLC increased its stake in shares of American Tower by 4.9% in the second quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock valued at $242,000 after purchasing an additional 58 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMT has been the subject of several recent analyst reports. TD Cowen increased their price objective on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Mizuho raised their target price on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets raised their price objective on shares of American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus price target of $237.92.

American Tower Stock Down 1.4 %

AMT stock opened at $222.80 on Monday. The company has a market cap of $104.04 billion, a price-to-earnings ratio of 50.41, a PEG ratio of 1.08 and a beta of 0.83. The company has a 50 day moving average of $228.80 and a two-hundred day moving average of $207.84. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower Co. has a 12-month low of $162.55 and a 12-month high of $243.56.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the firm posted $2.46 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts anticipate that American Tower Co. will post 10.12 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s payout ratio is presently 146.61%.

Insider Activity at American Tower

In related news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction on 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 completion of the sale, the chief executive officer now owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other American Tower news, EVP Olivier Puech sold 10,005 shares of the business’s 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 completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $230.00, for a total transaction 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,723 shares of company stock valued at $7,795,397. Insiders own 0.18% of the company’s stock.

American Tower 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.