American Tower Co. (NYSE:AMT) Shares Sold by Tredje AP fonden

Tredje AP fonden cut its holdings in American Tower Co. (NYSE:AMT) by 5.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,451 shares of the real estate investment trust’s stock after selling 4,400 shares during the quarter. Tredje AP fonden’s holdings in American Tower were worth $14,472,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in American Tower during the first quarter worth $25,000. Cultivar Capital Inc. acquired a new position in shares of American Tower during the 2nd quarter worth about $25,000. Gold Investment Management Ltd. purchased a new position in American Tower in the 4th quarter valued at about $28,000. Hobbs Group Advisors LLC acquired a new stake in American Tower in the 2nd quarter worth about $29,000. Finally, SOA Wealth Advisors LLC. purchased a new stake in American Tower during the 1st quarter worth approximately $30,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other American Tower news, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction dated 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 transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Olivier Puech sold 10,005 shares of the 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 sale, the executive vice president now directly owns 51,746 shares in the company, valued at approximately $12,070,789.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,723 shares of company stock valued at $7,795,397. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on AMT. The Goldman Sachs Group assumed coverage on American Tower in a research report on Monday, July 1st. They issued a “buy” rating and a $230.00 target price on the stock. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Barclays reduced their target price on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Royal Bank of Canada raised their price target on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, TD Cowen upped their price objective on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $233.29.

American Tower Trading Down 0.4 %

AMT opened at $239.44 on Wednesday. The business’s 50 day moving average price is $222.80 and its 200 day moving average price is $201.79. 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 capitalization of $111.84 billion, a PE ratio of 54.17, a P/E/G ratio of 1.57 and a beta of 0.83. American Tower Co. has a one year low of $154.58 and a one year high of $243.56.

American Tower (NYSE:AMT) last released its quarterly 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 business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.46 earnings per share. As a group, equities research analysts expect that American Tower Co. will post 10.18 EPS for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is 146.61%.

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.