Strategic Blueprint LLC Sells 427 Shares of American Tower Co. (NYSE:AMT)

Strategic Blueprint LLC trimmed its position in shares of American Tower Co. (NYSE:AMT) by 10.3% during the 3rd quarter, Holdings Channel reports. The firm owned 3,733 shares of the real estate investment trust’s stock after selling 427 shares during the period. Strategic Blueprint LLC’s holdings in American Tower were worth $868,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC raised its position in shares of American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 78 shares during the period. Fairscale Capital LLC bought a new stake in shares of American Tower during the 2nd quarter valued at $27,000. Northwest Investment Counselors LLC bought a new stake in shares of American Tower during the 3rd quarter valued at $30,000. Cultivar Capital Inc. bought a new stake in shares of American Tower during the 2nd quarter valued at $25,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of American Tower during the 2nd quarter valued at $29,000. 92.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction dated 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 directly owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. 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 the SEC website. In related news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction dated 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 sale, the executive vice president now 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 filing with the SEC, which is available through the SEC website. Also, 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 transaction of $4,953,510.00. Following the sale, the chief executive officer now 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 33,723 shares of company stock valued at $7,795,397. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMT. Barclays lifted their price target on shares of American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. BMO Capital Markets reduced their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday. Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $245.00 to $230.00 in a report on Thursday, October 10th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $235.85.

American Tower Stock Performance

Shares of NYSE:AMT opened at $213.70 on Thursday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. The firm has a fifty day simple moving average of $228.58 and a two-hundred day simple moving average of $208.42. The stock has a market capitalization of $99.82 billion, a P/E ratio of 40.17, a PEG ratio of 1.09 and a beta of 0.83.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the prior year, the firm posted $2.58 earnings per share. American Tower’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, analysts expect that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.03%. American Tower’s dividend payout ratio is presently 121.80%.

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.