American Tower Co. (NYSE:AMT) Shares Sold by Dakota Wealth Management

Dakota Wealth Management cut its position in American Tower Co. (NYSE:AMT) by 24.6% during the third quarter, HoldingsChannel.com reports. The fund owned 15,800 shares of the real estate investment trust’s stock after selling 5,158 shares during the period. Dakota Wealth Management’s holdings in American Tower were worth $3,674,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Fairscale Capital LLC purchased a new stake in shares of American Tower during the second quarter worth $27,000. Northwest Investment Counselors LLC acquired a new position in American Tower during the third quarter worth about $30,000. Cultivar Capital Inc. acquired a new stake in American Tower in the 2nd quarter valued at about $25,000. Hobbs Group Advisors LLC purchased a new position in American Tower in the 2nd quarter worth approximately $29,000. Finally, Family Firm Inc. acquired a new position in shares of American Tower during the 2nd quarter worth approximately $35,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on AMT shares. Barclays increased their price target on American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Mizuho raised their price objective on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Finally, TD Cowen raised their price target on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $237.92.

American Tower Stock Performance

NYSE AMT opened at $222.74 on Friday. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $104.01 billion, a P/E ratio of 50.39, a P/E/G ratio of 1.08 and a beta of 0.83. The stock has a 50-day moving average of $228.74 and a two-hundred day moving average of $207.32. American Tower Co. has a 1-year low of $162.55 and a 1-year high of $243.56.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share 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 business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the previous year, the company earned $2.46 earnings per share. American Tower’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, analysts anticipate that American Tower Co. will post 10.12 EPS for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 2.91%. American Tower’s dividend payout ratio (DPR) is 146.61%.

Insider Buying and Selling at American Tower

In other news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $14,223,890. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 61,843 shares in the company, valued at $14,223,890. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 in the company, valued at approximately $12,070,789.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,723 shares of company stock valued at $7,795,397 in the last quarter. Corporate insiders own 0.18% of the company’s stock.

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.