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

Evermay Wealth Management LLC trimmed its stake in shares of American Tower Co. (NYSE:AMT) by 8.5% during the third quarter, Holdings Channel reports. The firm owned 1,074 shares of the real estate investment trust’s stock after selling 100 shares during the period. Evermay Wealth Management LLC’s holdings in American Tower were worth $250,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Cultivar Capital Inc. acquired a new position in shares of American Tower in the 2nd quarter valued at $25,000. Fortitude Family Office LLC lifted its position in shares of 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 purchasing an additional 78 shares in the last quarter. Fairscale Capital LLC purchased a new position in American Tower during the second quarter valued at approximately $27,000. Hobbs Group Advisors LLC purchased a new stake in American Tower in the 2nd quarter worth approximately $29,000. Finally, Northwest Investment Counselors LLC purchased a new position in American Tower in the third quarter valued at about $30,000. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Trading Up 0.9 %

AMT traded up $1.89 during midday trading on Wednesday, hitting $214.80. 435,064 shares of the company were exchanged, compared to its average volume of 2,267,592. The firm has a market capitalization of $100.33 billion, a P/E ratio of 40.48, a P/E/G ratio of 1.09 and a beta of 0.83. The firm’s 50 day moving average price is $228.70 and its 200-day moving average price is $208.39. 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 1-year low of $170.46 and a 1-year high of $243.56.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The company’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.58 EPS. As a group, equities analysts forecast that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were paid a $1.62 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 3.02%. American Tower’s dividend payout ratio (DPR) is presently 121.80%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AMT. Scotiabank increased their price objective on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research report on Wednesday, July 31st. Royal Bank of Canada upped their price objective on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. BMO Capital Markets boosted their price target on American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, September 13th. JPMorgan Chase & Co. upped their target price on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Finally, Barclays raised their price target on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $237.92.

Insider Activity at American Tower

In related news, EVP Olivier Puech sold 10,005 shares of the 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 sale, the executive vice president now 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other American Tower news, EVP Olivier Puech sold 10,005 shares of the firm’s 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 owns 51,746 shares in the company, valued at $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 available at this hyperlink. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s stock in a transaction dated 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 owns 31,873 shares in the company, valued at approximately $7,424,177.89. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,723 shares of company stock worth $7,795,397. 0.18% of the stock is owned by company insiders.

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.