American Tower Co. (NYSE:AMT) Stock Holdings Decreased by Brookstone Capital Management

Brookstone Capital Management lessened its position in American Tower Co. (NYSE:AMT) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,884 shares of the real estate investment trust’s stock after selling 60 shares during the quarter. Brookstone Capital Management’s holdings in American Tower were worth $1,601,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sugarloaf Wealth Management LLC boosted its position in shares of American Tower by 1.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 17,112 shares of the real estate investment trust’s stock worth $3,979,000 after buying an additional 272 shares during the period. Atomi Financial Group Inc. boosted its position in American Tower by 29.7% during the 3rd quarter. Atomi Financial Group Inc. now owns 6,810 shares of the real estate investment trust’s stock worth $1,584,000 after acquiring an additional 1,560 shares during the period. Park Place Capital Corp grew its stake in American Tower by 21.7% during the 3rd quarter. Park Place Capital Corp now owns 4,891 shares of the real estate investment trust’s stock valued at $1,137,000 after acquiring an additional 871 shares in the last quarter. Insight Wealth Strategies LLC increased its holdings in shares of American Tower by 1.8% in the 3rd quarter. Insight Wealth Strategies LLC now owns 10,840 shares of the real estate investment trust’s stock valued at $2,521,000 after purchasing an additional 194 shares during the period. Finally, Marion Wealth Management lifted its position in shares of American Tower by 3.6% in the third quarter. Marion Wealth Management now owns 5,332 shares of the real estate investment trust’s stock worth $1,240,000 after purchasing an additional 184 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Stock Performance

Shares of NYSE AMT opened at $219.27 on Friday. American Tower Co. has a 12 month low of $157.25 and a 12 month high of $243.56. The company has a market cap of $102.42 billion, a P/E ratio of 41.22, a P/E/G ratio of 1.01 and a beta of 0.83. The business’s 50 day moving average is $228.56 and its two-hundred day moving average is $205.38. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42.

American Tower (NYSE:AMT) last released 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). The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. American Tower’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.46 earnings per share. On average, equities analysts expect that American Tower Co. will post 10.13 EPS for the current year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is presently 121.80%.

Analyst Ratings Changes

AMT has been the topic of several research reports. Scotiabank upped their price objective on shares of American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price objective on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. StockNews.com upgraded American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. TD Cowen raised their price target on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, BMO Capital Markets increased their price objective on American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $235.21.

Insider Buying and Selling at American Tower

In related news, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was 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 directly owns 61,843 shares in the company, valued at approximately $14,223,890. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $232.93, for a total value of $508,020.33. Following the sale, the chief accounting officer now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction, the chief executive officer now owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 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.