American Tower Co. (NYSE:AMT) Shares Sold by Modera Wealth Management LLC

Modera Wealth Management LLC trimmed its stake in American Tower Co. (NYSE:AMT) by 5.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,038 shares of the real estate investment trust’s stock after selling 127 shares during the period. Modera Wealth Management LLC’s holdings in American Tower were worth $474,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Fairscale Capital LLC purchased a new position in shares of American Tower in the 2nd quarter valued at $27,000. Northwest Investment Counselors LLC purchased a new position in shares of American Tower in the 3rd quarter valued at $30,000. Cultivar Capital Inc. purchased a new position in shares of American Tower in the 2nd quarter valued at $25,000. Hobbs Group Advisors LLC purchased a new position in shares of American Tower in the 2nd quarter valued at $29,000. Finally, Family Firm Inc. purchased a new position in shares of American Tower in the 2nd quarter valued at $35,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Down 0.3 %

Shares of NYSE AMT opened at $222.23 on Tuesday. 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 $169.70 and a 52 week high of $243.56. The firm has a 50-day moving average price of $228.85 and a 200 day moving average price of $208.15. The stock has a market capitalization of $103.80 billion, a price-to-earnings ratio of 41.77, a price-to-earnings-growth ratio of 1.09 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). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter last year, the business earned $2.46 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts anticipate that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is 121.80%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AMT shares. The Goldman Sachs Group started coverage on shares of American Tower in a research report on Monday, July 1st. They issued a “buy” rating and a $230.00 target price on the stock. BMO Capital Markets raised their price objective on shares of American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, September 13th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. raised 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. Finally, Barclays raised their price objective 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. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $237.92.

Insider Activity at American Tower

In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction dated 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 transaction, the chief accounting officer now owns 31,873 shares in the company, valued at approximately $7,424,177.89. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction dated 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 transaction, the chief accounting officer now owns 31,873 shares in the company, valued at approximately $7,424,177.89. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction dated 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 transaction, the executive vice president now owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. The trade was 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 90 days. Company insiders own 0.18% of the company’s stock.

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.