American Tower Co. (NYSE:AMT) Stock Holdings Cut by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC lessened its position in American Tower Co. (NYSE:AMT) by 14.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,405 shares of the real estate investment trust’s stock after selling 717 shares during the period. Daymark Wealth Partners LLC’s holdings in American Tower were worth $856,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Delta Investment Management LLC boosted its stake in shares of American Tower by 7.3% during the 2nd quarter. Delta Investment Management LLC now owns 1,303 shares of the real estate investment trust’s stock worth $253,000 after acquiring an additional 89 shares in the last quarter. Drucker Wealth 3.0 LLC purchased a new position in shares of American Tower in the second quarter worth approximately $2,417,000. Ameriprise Financial Inc. boosted its stake in American Tower by 41.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after purchasing an additional 1,885,421 shares during the period. AXA S.A. grew its position in American Tower by 5.2% during the 2nd quarter. AXA S.A. now owns 523,922 shares of the real estate investment trust’s stock worth $101,840,000 after purchasing an additional 26,007 shares in the last quarter. Finally, NBW Capital LLC raised its stake in American Tower by 0.6% during the 2nd quarter. NBW Capital LLC now owns 36,289 shares of the real estate investment trust’s stock valued at $7,054,000 after purchasing an additional 202 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AMT shares. The Goldman Sachs Group initiated coverage on American Tower in a research report on Monday, July 1st. They issued a “buy” rating and a $230.00 target price for the company. TD Cowen raised their price objective on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company upped their target price on American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Scotiabank increased their price target on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada boosted their price objective on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average target price of $234.00.

Insider Activity

In related news, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the transaction, the executive vice president now directly owns 51,746 shares in the company, valued at approximately $12,070,789.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Olivier Puech sold 10,005 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the sale, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The disclosure for this sale can be found here. Insiders have sold a total of 33,723 shares of company stock valued at $7,795,397 over the last 90 days. 0.18% of the stock is currently owned by company insiders.

American Tower Stock Down 0.6 %

AMT stock opened at $230.32 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. The firm has a market cap of $107.55 billion, a PE ratio of 52.11, a PEG ratio of 1.08 and a beta of 0.83. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $243.56. The company has a fifty day simple moving average of $226.93 and a 200 day simple moving average of $203.41.

American Tower (NYSE:AMT) last released its quarterly earnings results 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 return on equity of 23.06% and a net margin of 21.95%. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter last year, the company posted $2.46 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. Sell-side analysts anticipate that American Tower Co. will post 10.13 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Wednesday, October 9th. American Tower’s dividend payout ratio is 146.61%.

About American Tower

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.