Taylor Wealth Management Partners reduced its stake in American Tower Corp (NYSE:AMT) by 8.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,783 shares of the real estate investment trust’s stock after selling 5,907 shares during the period. American Tower makes up approximately 6.7% of Taylor Wealth Management Partners’ investment portfolio, making the stock its 3rd biggest position. Taylor Wealth Management Partners’ holdings in American Tower were worth $14,325,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Vigilant Capital Management LLC raised its position in American Tower by 17.9% during the third quarter. Vigilant Capital Management LLC now owns 1,399 shares of the real estate investment trust’s stock valued at $309,000 after purchasing an additional 212 shares in the last quarter. Advisor Partners LLC raised its position in American Tower by 9.5% during the third quarter. Advisor Partners LLC now owns 12,028 shares of the real estate investment trust’s stock valued at $2,660,000 after purchasing an additional 1,047 shares in the last quarter. Strategic Blueprint LLC acquired a new position in American Tower during the third quarter valued at approximately $153,000. Osborn Williams & Donohoe LLC increased its holdings in shares of American Tower by 17.4% during the third quarter. Osborn Williams & Donohoe LLC now owns 18,670 shares of the real estate investment trust’s stock worth $4,129,000 after buying an additional 2,764 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of American Tower by 8.3% during the third quarter. Signaturefd LLC now owns 2,255 shares of the real estate investment trust’s stock worth $499,000 after buying an additional 172 shares in the last quarter. Institutional investors and hedge funds own 92.56% of the company’s stock.
Shares of American Tower stock traded up $4.13 during trading on Thursday, hitting $226.10. The company’s stock had a trading volume of 37,654 shares, compared to its average volume of 1,609,960. The company has a debt-to-equity ratio of 4.13, a current ratio of 0.49 and a quick ratio of 0.49. American Tower Corp has a 52 week low of $144.43 and a 52 week high of $242.00. The stock has a market cap of $98.26 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 1.83 and a beta of 0.44. The stock has a 50-day moving average price of $225.01 and a two-hundred day moving average price of $210.84.
American Tower (NYSE:AMT) last issued its quarterly earnings data 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 return on equity of 24.75% and a net margin of 19.30%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the prior year, the firm earned $1.74 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts predict that American Tower Corp will post 7.67 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Friday, September 27th will be paid a $0.95 dividend. This is a boost from American Tower’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $3.80 annualized dividend and a dividend yield of 1.68%. American Tower’s payout ratio is currently 47.56%.
In related news, Director Pamela D. A. Reeve sold 4,167 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $240.80, for a total value of $1,003,413.60. Following the sale, the director now owns 19,139 shares of the company’s stock, valued at $4,608,671.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director David E. Sharbutt sold 2,039 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $217.59, for a total transaction of $443,666.01. Following the completion of the sale, the director now directly owns 3,936 shares in the company, valued at approximately $856,434.24. The disclosure for this sale can be found here. In the last three months, insiders sold 199,901 shares of company stock worth $44,110,977. 0.75% of the stock is currently owned by insiders.
Several research analysts have recently issued reports on AMT shares. SunTrust Banks upped their price target on shares of American Tower to $230.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. KeyCorp upped their price target on shares of American Tower from $225.00 to $253.00 and gave the stock an “overweight” rating in a report on Monday, August 19th. Citigroup upped their price target on shares of American Tower from $236.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. upped their price target on shares of American Tower from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, ValuEngine downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $206.87.
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 approximately 171,000 communications sites.
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