American Tower Co. (NYSE:AMT) Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its position in American Tower Co. (NYSE:AMT) by 20.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,357 shares of the real estate investment trust’s stock after selling 1,633 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in American Tower were worth $1,478,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwest Investment Counselors LLC bought a new stake in American Tower in the first quarter valued at about $25,000. Cultivar Capital Inc. bought a new stake in American Tower in the second quarter valued at about $25,000. Fairscale Capital LLC bought a new stake in American Tower in the second quarter valued at about $27,000. Hobbs Group Advisors LLC bought a new position in shares of American Tower during the second quarter valued at approximately $29,000. Finally, SOA Wealth Advisors LLC. bought a new position in shares of American Tower during the first quarter valued at approximately $30,000. 92.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, 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 completion of the sale, the executive vice president now owns 51,746 shares in the company, valued at approximately $12,070,789.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction 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 sale, the chief executive officer now 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 disclosure for this sale can be found here. Insiders sold 33,723 shares of company stock worth $7,795,397 over the last ninety days. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on AMT. JPMorgan Chase & Co. upped their target price on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Barclays upped their target price 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 upped their target price on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Scotiabank upped their target price on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 31st. Finally, TD Cowen upped their target price on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and a consensus price target of $237.92.

American Tower Stock Performance

Shares of NYSE AMT opened at $224.16 on Friday. The company 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. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower Co. has a 12-month low of $157.25 and a 12-month high of $243.56. The stock has a 50 day simple moving average of $228.55 and a 200-day simple moving average of $206.18.

American Tower (NYSE:AMT) last released its 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 firm had revenue of $2.90 billion during 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 for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $2.46 earnings per share. On average, equities research analysts forecast that American Tower Co. will post 10.13 EPS for the current year.

American Tower Dividend Announcement

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

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.