BLB&B Advisors LLC Buys 89 Shares of American Tower Co. (NYSE:AMT)

BLB&B Advisors LLC raised its stake in shares of American Tower Co. (NYSE:AMT) by 5.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,813 shares of the real estate investment trust’s stock after purchasing an additional 89 shares during the period. BLB&B Advisors LLC’s holdings in American Tower were worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. NBT Bank N A NY boosted its stake in shares of American Tower by 3.3% in the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock worth $329,000 after buying an additional 54 shares during the last quarter. CX Institutional boosted its position in American Tower by 2.9% in the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after purchasing an additional 54 shares in the last quarter. O Brien Greene & Co. Inc grew its stake in shares of American Tower by 2.3% during the 2nd quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock worth $481,000 after purchasing an additional 55 shares during the period. CFO4Life Group LLC increased its holdings in shares of American Tower by 5.4% during the 1st 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 in the last quarter. Finally, Tyche Wealth Partners LLC increased its holdings in shares of American Tower by 4.9% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the completion of the sale, the chief accounting officer now directly owns 31,873 shares in the company, valued at $7,424,177.89. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the transaction, the chief accounting officer now directly owns 31,873 shares of the company’s stock, valued at $7,424,177.89. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction 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 approximately $12,070,789.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,723 shares of company stock worth $7,795,397. 0.18% of the stock is owned by corporate insiders.

American Tower Trading Up 2.2 %

Shares of AMT stock opened at $226.27 on Thursday. American Tower Co. has a fifty-two week low of $159.91 and a fifty-two week high of $243.56. The firm has a market capitalization of $105.66 billion, a P/E ratio of 51.19, a PEG ratio of 1.03 and a beta of 0.83. The stock’s fifty day moving average is $228.58 and its two-hundred day moving average is $207.19. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81.

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

American Tower Announces Dividend

The business also recently declared 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. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 2.86%. American Tower’s dividend payout ratio is presently 146.61%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Barclays raised their target price on American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. StockNews.com raised American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. The Goldman Sachs Group began coverage on American Tower in a report on Monday, July 1st. They issued a “buy” rating and a $230.00 price objective on the stock. Finally, Royal Bank of Canada increased their target price on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Three 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $237.92.

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.