Compass Wealth Management LLC Buys 250 Shares of American Tower Co. (NYSE:AMT)

Compass Wealth Management LLC lifted its stake in shares of American Tower Co. (NYSE:AMT) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,144 shares of the real estate investment trust’s stock after acquiring an additional 250 shares during the period. Compass Wealth Management LLC’s holdings in American Tower were worth $3,754,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in AMT. CWM LLC grew its position in American Tower by 8.4% in the first quarter. CWM LLC now owns 12,828 shares of the real estate investment trust’s stock valued at $2,535,000 after purchasing an additional 990 shares in the last quarter. Rise Advisors LLC bought a new position in American Tower in the first quarter valued at $49,000. Massmutual Trust Co. FSB ADV grew its position in American Tower by 12.1% in the first quarter. Massmutual Trust Co. FSB ADV now owns 18,355 shares of the real estate investment trust’s stock valued at $3,627,000 after purchasing an additional 1,982 shares in the last quarter. Collective Family Office LLC bought a new position in American Tower in the first quarter valued at $205,000. Finally, Legacy Private Trust Co. grew its position in American Tower by 22.4% in the first quarter. Legacy Private Trust Co. now owns 1,138 shares of the real estate investment trust’s stock valued at $225,000 after purchasing an additional 208 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In related news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The shares were 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 of the company’s stock, valued at approximately $12,070,789.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’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 transaction of $508,020.33. Following the sale, the chief accounting officer now directly owns 31,873 shares of the company’s stock, valued at $7,424,177.89. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $2,333,866.35. Following the sale, the executive vice president now directly owns 51,746 shares in the company, valued at $12,070,789.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,723 shares of company stock valued at $7,795,397. 0.18% of the stock is owned by insiders.

American Tower Price Performance

AMT stock traded down $2.44 during mid-day trading on Thursday, hitting $225.08. The stock had a trading volume of 558,789 shares, compared to its average volume of 2,277,238. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower Co. has a 52 week low of $157.25 and a 52 week high of $243.56. The firm has a market capitalization of $105.13 billion, a P/E ratio of 42.78, a P/E/G ratio of 1.01 and a beta of 0.83. The firm has a fifty day simple moving average of $228.54 and a 200 day simple moving average of $206.06.

American Tower (NYSE:AMT) last released its earnings results 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 firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the prior year, the business earned $2.46 earnings per share. American Tower’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts forecast that American Tower Co. will post 10.13 EPS for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is presently 121.80%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Mizuho lifted their price objective on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. TD Cowen lifted their price objective on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group assumed coverage on shares of American Tower in a research report on Monday, July 1st. They issued a “buy” rating and a $230.00 price objective for the company. BMO Capital Markets lifted their price objective on shares of American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.21.

About American Tower

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.