Prio Wealth Limited Partnership Purchases 430 Shares of American Tower Co. (NYSE:AMT)

Prio Wealth Limited Partnership increased its position in shares of American Tower Co. (NYSE:AMT) by 34.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,693 shares of the real estate investment trust’s stock after acquiring an additional 430 shares during the period. Prio Wealth Limited Partnership’s holdings in American Tower were worth $394,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in shares of American Tower in the 1st quarter worth $25,000. Fairscale Capital LLC bought a new position in shares of American Tower in the 2nd quarter worth $27,000. Cultivar Capital Inc. bought a new position in shares of American Tower in the 2nd quarter worth $25,000. Hobbs Group Advisors LLC bought a new position in shares of American Tower in the 2nd quarter worth $29,000. Finally, Family Firm Inc. bought a new position in shares of American Tower in the 2nd quarter worth $35,000. Institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other news, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction dated 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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction dated 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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction of $508,020.33. Following the completion of the sale, the chief accounting officer now directly owns 31,873 shares of the company’s stock, valued at approximately $7,424,177.89. This represents a 0.00 % decrease in their ownership of the stock. 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.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AMT. JPMorgan Chase & Co. increased their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. BMO Capital Markets increased their target price on shares of American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, September 13th. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $245.00 to $230.00 in a report on Thursday, October 10th. Barclays increased their target price 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. Finally, Royal Bank of Canada increased their target price on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus price target of $237.92.

American Tower Trading Down 2.1 %

Shares of AMT opened at $221.49 on Tuesday. The stock has a market capitalization of $103.43 billion, a P/E ratio of 50.11, a PEG ratio of 1.03 and a beta of 0.83. 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 $228.54 and a two-hundred day simple moving average of $206.83. American Tower Co. has a twelve month low of $157.25 and a twelve month high of $243.56.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 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 during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the prior year, the business posted $2.46 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, research analysts anticipate that American Tower Co. will post 10.12 EPS for the current year.

American Tower Dividend Announcement

The business also recently announced 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. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 2.93%. 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.