Raleigh Capital Management Inc. Has $57,000 Stock Holdings in American Tower Co. (NYSE:AMT)

Raleigh Capital Management Inc. trimmed its holdings in shares of American Tower Co. (NYSE:AMT) by 36.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 244 shares of the real estate investment trust’s stock after selling 139 shares during the period. Raleigh Capital Management Inc.’s holdings in American Tower were worth $57,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of AMT. NBT Bank N A NY lifted its position in shares of American Tower by 3.3% in the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock worth $329,000 after purchasing an additional 54 shares in the last quarter. CX Institutional lifted its position in American Tower by 2.9% in the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after buying an additional 54 shares in the last quarter. O Brien Greene & Co. Inc boosted its stake in shares of American Tower by 2.3% during the 2nd quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock valued at $481,000 after buying an additional 55 shares during the period. CFO4Life Group LLC grew its holdings in shares of American Tower by 5.4% during the 1st quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $221,000 after acquiring an additional 57 shares in the last quarter. Finally, Tyche Wealth Partners LLC increased its stake in shares of American Tower by 4.9% in the second quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock worth $242,000 after acquiring an additional 58 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were 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 owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Steven O. Vondran sold 21,537 shares of the business’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 transaction of $4,953,510.00. Following the sale, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of 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. Insiders have sold 33,723 shares of company stock worth $7,795,397 in the last ninety days. Insiders own 0.18% of the company’s stock.

American Tower Trading Up 2.2 %

Shares of NYSE:AMT opened at $226.27 on Thursday. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s 50-day moving average is $228.58 and its 200-day moving average is $207.19. The company has a market cap of $105.66 billion, a P/E ratio of 51.19, a P/E/G ratio of 1.03 and a beta of 0.83. American Tower Co. has a 52-week low of $159.91 and a 52-week high of $243.56.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period last year, the business earned $2.46 EPS. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts predict that American Tower Co. will post 10.12 earnings per share for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. The Goldman Sachs Group initiated coverage on American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Barclays boosted their target price on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Royal Bank of Canada lifted their price objective on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $237.92.

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.