American Tower Co. (NYSE:AMT) Shares Sold by Allworth Financial LP

Allworth Financial LP lowered its stake in shares of American Tower Co. (NYSE:AMT) by 2.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,214 shares of the real estate investment trust’s stock after selling 190 shares during the period. Allworth Financial LP’s holdings in American Tower were worth $1,678,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AMT. Vanguard Group Inc. boosted its position in shares of American Tower by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock valued at $12,248,812,000 after acquiring an additional 965,938 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in American Tower by 41.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock valued at $1,243,333,000 after purchasing an additional 1,885,421 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in American Tower by 8.9% in the 2nd quarter. Clearbridge Investments LLC now owns 3,705,145 shares of the real estate investment trust’s stock valued at $720,206,000 after purchasing an additional 302,676 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of American Tower by 16.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust’s stock worth $643,571,000 after buying an additional 464,429 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in shares of American Tower by 0.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,630,644 shares of the real estate investment trust’s stock valued at $315,868,000 after buying an additional 6,193 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at American Tower

In related news, EVP Olivier Puech sold 10,005 shares of American Tower 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 in the company, valued at approximately $12,070,789.42. This trade represents 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 this hyperlink. In related news, EVP Olivier Puech sold 10,005 shares of American Tower 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 in the company, valued at approximately $12,070,789.42. This trade represents 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 this hyperlink. Also, CEO Steven O. Vondran sold 21,537 shares of American Tower 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 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,723 shares of company stock worth $7,795,397. Company insiders own 0.18% of the company’s stock.

American Tower Price Performance

American Tower stock opened at $222.80 on Monday. 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 Co. has a 52-week low of $162.55 and a 52-week high of $243.56. The firm has a market cap of $104.04 billion, a PE ratio of 50.41, a price-to-earnings-growth ratio of 1.08 and a beta of 0.83. The company’s 50 day moving average is $228.80 and its two-hundred day moving average is $207.84.

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). The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $2.46 earnings per share. On average, research analysts expect that American Tower Co. will post 10.12 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were issued a $1.62 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 2.91%. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

Analyst Ratings Changes

Several research firms have issued reports on AMT. The Goldman Sachs Group assumed coverage on American Tower in a research note on Monday, July 1st. They set a “buy” rating and a $230.00 target price for the company. BMO Capital Markets boosted their price objective on shares of American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, September 13th. Scotiabank increased their target price on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 31st. Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. increased their price objective on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Three 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 stock. Based on data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average target price of $237.92.

American Tower Company 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.