Exane Derivatives Sells 65 Shares of American Tower Corp (NYSE:AMT)

Exane Derivatives cut its position in American Tower Corp (NYSE:AMT) by 6.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 930 shares of the real estate investment trust’s stock after selling 65 shares during the quarter. Exane Derivatives’ holdings in American Tower were worth $206,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Commerzbank Aktiengesellschaft FI grew its stake in American Tower by 136.6% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 34,931 shares of the real estate investment trust’s stock valued at $7,142,000 after buying an additional 20,167 shares during the last quarter. Commonwealth Equity Services LLC grew its position in American Tower by 5.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 75,512 shares of the real estate investment trust’s stock worth $15,438,000 after purchasing an additional 3,774 shares during the last quarter. Calamos Advisors LLC grew its position in American Tower by 1.1% in the 2nd quarter. Calamos Advisors LLC now owns 278,307 shares of the real estate investment trust’s stock worth $56,900,000 after purchasing an additional 3,102 shares during the last quarter. Stock Yards Bank & Trust Co. grew its position in American Tower by 0.8% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 98,498 shares of the real estate investment trust’s stock worth $20,138,000 after purchasing an additional 804 shares during the last quarter. Finally, Autus Asset Management LLC grew its position in American Tower by 45.4% in the 2nd quarter. Autus Asset Management LLC now owns 7,391 shares of the real estate investment trust’s stock worth $1,511,000 after purchasing an additional 2,309 shares during the last quarter. Institutional investors and hedge funds own 92.56% of the company’s stock.

In related news, Director David E. Sharbutt sold 2,039 shares of American Tower stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $217.59, for a total transaction of $443,666.01. Following the completion of the transaction, the director now directly owns 3,936 shares of the company’s stock, valued at approximately $856,434.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James D. Taiclet, Jr. sold 57,438 shares of American Tower stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $211.89, for a total transaction of $12,170,537.82. Following the transaction, the chief executive officer now directly owns 255,414 shares of the company’s stock, valued at $54,119,672.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 199,901 shares of company stock worth $44,110,977. 0.75% of the stock is owned by company insiders.

Several analysts have issued reports on the stock. SunTrust Banks raised their price target on shares of American Tower to $230.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. KeyCorp raised their price target on shares of American Tower from $225.00 to $253.00 and gave the stock an “overweight” rating in a research report on Monday, August 19th. Zacks Investment Research upgraded shares of American Tower from a “hold” rating to a “buy” rating and set a $237.00 price target on the stock in a research report on Tuesday, August 20th. Citigroup raised their price target on shares of American Tower from $236.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Finally, Morgan Stanley raised their price target on shares of American Tower from $201.00 to $216.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 19th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. American Tower presently has an average rating of “Hold” and an average target price of $206.87.

Shares of American Tower stock opened at $221.97 on Thursday. The company has a debt-to-equity ratio of 4.13, a quick ratio of 0.49 and a current ratio of 0.49. The firm’s 50-day simple moving average is $225.01 and its 200-day simple moving average is $210.84. American Tower Corp has a twelve month low of $144.43 and a twelve month high of $242.00. The firm has a market cap of $99.89 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 1.83 and a beta of 0.44.

American Tower (NYSE:AMT) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.87 by ($0.91). American Tower had a net margin of 19.30% and a return on equity of 24.75%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the firm posted $1.74 earnings per share. American Tower’s revenue was up 6.1% on a year-over-year basis. On average, equities analysts forecast that American Tower Corp will post 7.67 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Friday, September 27th will be given a dividend of $0.95 per share. This is a positive change from American Tower’s previous quarterly dividend of $0.92. This represents a $3.80 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Thursday, September 26th. American Tower’s payout ratio is 47.56%.

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 approximately 171,000 communications sites.

Read More: How does new data get added to a blockchain?

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corp (NYSE:AMT).

Institutional Ownership by Quarter for American Tower (NYSE:AMT)

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.