American Tower Co. (NYSE:AMT) Stock Holdings Lowered by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC cut its position in American Tower Co. (NYSE:AMT) by 36.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 875 shares of the real estate investment trust’s stock after selling 500 shares during the quarter. IVC Wealth Advisors LLC’s holdings in American Tower were worth $203,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Miracle Mile Advisors LLC increased its position in American Tower by 20.4% in the 1st quarter. Miracle Mile Advisors LLC now owns 3,909 shares of the real estate investment trust’s stock valued at $772,000 after acquiring an additional 661 shares during the period. Claro Advisors LLC increased its holdings in shares of American Tower by 16.5% during the first quarter. Claro Advisors LLC now owns 1,241 shares of the real estate investment trust’s stock valued at $245,000 after purchasing an additional 176 shares during the period. Oak Thistle LLC acquired a new stake in American Tower in the first quarter worth about $303,000. Allspring Global Investments Holdings LLC grew its position in American Tower by 16.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 302,116 shares of the real estate investment trust’s stock valued at $59,695,000 after buying an additional 42,797 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. increased its stake in American Tower by 2.9% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 2,291 shares of the real estate investment trust’s stock valued at $453,000 after buying an additional 65 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Trading Down 0.3 %

NYSE:AMT opened at $222.23 on Tuesday. The stock has a market cap of $103.80 billion, a PE ratio of 41.77, a price-to-earnings-growth ratio of 1.09 and a beta of 0.83. American Tower Co. has a fifty-two week low of $169.70 and a fifty-two week high of $243.56. 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 stock’s 50-day moving average is $228.85 and its two-hundred day moving average is $208.15.

American Tower (NYSE:AMT) last released its quarterly earnings data 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 net margin of 21.95% and a return on equity of 23.06%. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the prior year, the company posted $2.46 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts forecast that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were issued a dividend of $1.62 per share. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 2.92%. American Tower’s dividend payout ratio is 121.80%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AMT shares. Royal Bank of Canada increased their price objective 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. Scotiabank upped their price target on shares of American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 31st. The Goldman Sachs Group assumed coverage on shares of American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 price objective on the stock. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. Finally, Mizuho lifted their price target 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. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and a consensus price target of $237.92.

Insider Activity 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 stock was sold at an average price of $230.00, for a total transaction 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 $14,223,890. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other American Tower 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 sale, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Olivier Puech sold 10,005 shares of the stock in a transaction on Friday, August 2nd. The stock was 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 directly owns 51,746 shares in the company, valued at $12,070,789.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,723 shares of company stock valued at $7,795,397. Insiders own 0.18% of the company’s stock.

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.