Strategic Blueprint LLC Cuts Position in American Tower Co. (NYSE:AMT)

Strategic Blueprint LLC cut its stake in American Tower Co. (NYSE:AMT) by 10.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,733 shares of the real estate investment trust’s stock after selling 427 shares during the period. Strategic Blueprint LLC’s holdings in American Tower were worth $868,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its position in American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 78 shares in the last quarter. Fairscale Capital LLC purchased a new position in American Tower in the second quarter worth $27,000. Northwest Investment Counselors LLC purchased a new position in American Tower in the third quarter worth $30,000. Cultivar Capital Inc. purchased a new position in American Tower in the second quarter worth $25,000. Finally, Hobbs Group Advisors LLC purchased a new position in American Tower in the second quarter worth $29,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Price Performance

Shares of AMT opened at $213.70 on Thursday. The firm’s 50-day simple moving average is $228.58 and its two-hundred day simple moving average is $208.42. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. 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 has a market cap of $99.82 billion, a PE ratio of 40.17, a price-to-earnings-growth ratio of 1.09 and a beta of 0.83.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the prior year, the business posted $2.58 EPS. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. Analysts anticipate that American Tower Co. will post 10.08 earnings per share 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. This represents a $6.48 annualized dividend and a yield of 3.03%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio is currently 121.80%.

Insider Buying and Selling

In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total value of $508,020.33. Following the sale, the chief accounting officer now owns 31,873 shares in the company, valued at approximately $7,424,177.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total value of $508,020.33. Following the transaction, the chief accounting officer now directly owns 31,873 shares in the company, valued at approximately $7,424,177.89. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction 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 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 completion of the transaction, the chief executive officer now owns 61,843 shares in the company, valued at $14,223,890. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,723 shares of company stock worth $7,795,397. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on AMT. Mizuho upped their target price on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. BMO Capital Markets cut their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. JPMorgan Chase & Co. upped their price target on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $235.85.

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.