CX Institutional Boosts Holdings in American Tower Co. (NYSE:AMT)

CX Institutional raised its stake in American Tower Co. (NYSE:AMT) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,933 shares of the real estate investment trust’s stock after acquiring an additional 54 shares during the quarter. CX Institutional’s holdings in American Tower were worth $450,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. SOA Wealth Advisors LLC. bought a new position in American Tower during the first quarter valued at $30,000. Aprio Wealth Management LLC bought a new position in shares of American Tower during the 1st quarter worth $365,000. BTC Capital Management Inc. purchased a new stake in American Tower in the 1st quarter worth about $659,000. First Affirmative Financial Network raised its stake in American Tower by 3.5% in the 1st quarter. First Affirmative Financial Network now owns 2,731 shares of the real estate investment trust’s stock valued at $540,000 after acquiring an additional 93 shares during the period. Finally, Meyer Handelman Co. purchased a new stake in American Tower during the first quarter valued at about $801,000. 92.69% of the stock is owned by institutional investors.

Insider Activity at American Tower

In other American Tower news, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction dated 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 $12,070,789.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the stock in a transaction on Friday, August 2nd. The shares were 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 owns 31,873 shares of the company’s stock, valued at $7,424,177.89. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,723 shares of company stock valued at $7,795,397. Insiders own 0.18% of the company’s stock.

American Tower Stock Down 1.5 %

AMT opened at $224.16 on Friday. The business’s fifty day simple moving average is $228.55 and its 200 day simple moving average is $206.18. American Tower Co. has a 52 week low of $157.25 and a 52 week high of $243.56. 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 stock has a market cap of $104.68 billion, a PE ratio of 50.71, a P/E/G ratio of 1.01 and a beta of 0.83.

American Tower (NYSE:AMT) last announced its quarterly earnings data 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 firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate 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 last year, the company posted $2.46 earnings per share. As a group, research analysts expect that American Tower Co. will post 10.13 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be paid a $1.62 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.89%. American Tower’s dividend payout ratio (DPR) is 146.61%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AMT shares. The Goldman Sachs Group assumed coverage on shares of American Tower in a research report on Monday, July 1st. They issued a “buy” rating and a $230.00 price target on the stock. TD Cowen raised their target price on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com raised American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Barclays raised their price objective on shares of American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. upped their target price 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. Three investment 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.com, American Tower presently has an average rating of “Moderate Buy” and an average target price of $237.92.

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.