Lockerman Financial Group Inc. Reduces Stake in American Tower Co. (NYSE:AMT)

Lockerman Financial Group Inc. lessened its stake in shares of American Tower Co. (NYSE:AMT) by 7.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,220 shares of the real estate investment trust’s stock after selling 105 shares during the quarter. Lockerman Financial Group Inc.’s holdings in American Tower were worth $284,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMT. NBT Bank N A NY grew its position in shares of American Tower by 3.3% during the 2nd quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock valued at $329,000 after acquiring an additional 54 shares during the period. CX Institutional increased its position in American Tower by 2.9% in the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after buying an additional 54 shares in the last quarter. O Brien Greene & Co. Inc raised its stake in shares of American Tower by 2.3% in the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock worth $481,000 after buying an additional 55 shares during the period. CFO4Life Group LLC lifted its position in shares of American Tower by 5.4% during the 1st quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 57 shares in the last quarter. Finally, Tyche Wealth Partners LLC grew its stake in shares of American Tower by 4.9% during the 2nd quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock valued at $242,000 after acquiring an additional 58 shares during the period. 92.69% of the stock is currently owned by institutional investors.

American Tower Trading Up 3.5 %

NYSE AMT traded up $7.73 during trading hours on Tuesday, hitting $229.43. 2,212,372 shares of the company were exchanged, compared to its average volume of 2,289,197. The stock has a market cap of $107.14 billion, a PE ratio of 51.88, a price-to-earnings-growth ratio of 1.00 and a beta of 0.83. American Tower Co. has a 52 week low of $157.25 and a 52 week high of $243.56. The stock has a 50-day moving average price of $228.48 and a 200 day moving average price of $205.68. 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 (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the business earned $2.46 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts forecast that American Tower Co. will post 10.13 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be given a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.82%. American Tower’s payout ratio is 146.61%.

Insider Buying and Selling

In other news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 61,843 shares in the company, valued at approximately $14,223,890. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the sale, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction 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 completion of the transaction, the chief accounting officer now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 33,723 shares of company stock worth $7,795,397 in the last ninety days. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Mizuho lifted their price target on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. BMO Capital Markets raised their price target on American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, September 13th. Barclays increased their target price on American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Royal Bank of Canada boosted their price target on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Finally, 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. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, American Tower has an average 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.