Mutual of America Capital Management LLC Sells 2,229 Shares of American Tower Co. (NYSE:AMT)

Mutual of America Capital Management LLC lowered its position in American Tower Co. (NYSE:AMT) by 3.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 58,894 shares of the real estate investment trust’s stock after selling 2,229 shares during the period. Mutual of America Capital Management LLC’s holdings in American Tower were worth $11,448,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in American Tower in the 1st quarter valued at about $25,000. Cultivar Capital Inc. acquired a new stake in American Tower in the second quarter valued at approximately $25,000. Gold Investment Management Ltd. acquired a new position in shares of American Tower during the fourth quarter worth $28,000. Hobbs Group Advisors LLC acquired a new position in shares of American Tower during the second quarter worth $29,000. Finally, SOA Wealth Advisors LLC. bought a new position in American Tower during the first quarter worth $30,000. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 1.5 %

Shares of American Tower stock opened at $235.95 on Thursday. The firm has a market cap of $110.18 billion, a price-to-earnings ratio of 53.38, a PEG ratio of 1.60 and a beta of 0.83. 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 1 year low of $154.58 and a 1 year high of $243.56. The company has a 50-day moving average of $223.58 and a 200 day moving average of $202.03.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (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 analysts’ expectations of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.46 EPS. As a group, sell-side analysts anticipate that American Tower Co. will post 10.13 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s payout ratio is 146.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their target price 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. The Goldman Sachs Group began coverage on shares of American Tower in a report on Monday, July 1st. They set a “buy” rating and a $230.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on shares of American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Finally, TD Cowen boosted their price target on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $233.29.

Insider Buying and Selling

In other American Tower news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction that occurred 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 transaction, the executive vice president now owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Steven O. Vondran sold 21,537 shares of the 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 sale, the chief executive officer now owns 61,843 shares of the company’s stock, valued at $14,223,890. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Olivier Puech sold 10,005 shares of the 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 sale, the executive vice president now directly owns 51,746 shares in the company, valued at approximately $12,070,789.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,723 shares of company stock valued at $7,795,397. 0.18% of the stock is owned by insiders.

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.