American Tower Co. (NYSE:AMT) Shares Purchased by Fiduciary Alliance LLC

Fiduciary Alliance LLC boosted its holdings in shares of American Tower Co. (NYSE:AMT) by 33.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,717 shares of the real estate investment trust’s stock after purchasing an additional 435 shares during the period. Fiduciary Alliance LLC’s holdings in American Tower were worth $399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new position in shares of American Tower in the 1st quarter valued at about $25,000. Fairscale Capital LLC acquired a new position in American Tower in the second quarter valued at approximately $27,000. Cultivar Capital Inc. purchased a new stake in American Tower in the 2nd quarter worth approximately $25,000. Hobbs Group Advisors LLC acquired a new position in shares of American Tower in the 2nd quarter valued at $29,000. Finally, SOA Wealth Advisors LLC. purchased a new stake in American Tower during the first quarter worth $30,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American Tower

In related news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction of $508,020.33. Following the sale, the chief accounting officer now owns 31,873 shares of the company’s stock, valued at approximately $7,424,177.89. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $4,953,510.00. Following the transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,723 shares of company stock worth $7,795,397. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on AMT shares. Scotiabank lifted their price objective on shares of American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft boosted their price objective on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. StockNews.com upgraded American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Mizuho upped their price objective on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, TD Cowen raised their price target on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $235.21.

American Tower Stock Up 1.2 %

NYSE AMT opened at $221.89 on Tuesday. 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 52 week low of $157.25 and a 52 week high of $243.56. The business’s fifty day simple moving average is $228.48 and its 200-day simple moving average is $205.68. The firm has a market cap of $103.62 billion, a PE ratio of 50.20, a P/E/G ratio of 1.00 and a beta of 0.83.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share 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 analyst estimates of $2.82 billion. During the same quarter in the previous year, the firm earned $2.46 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities analysts anticipate that American Tower Co. will post 10.13 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be given a dividend of $1.62 per share. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.92%. American Tower’s payout ratio is currently 146.61%.

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.