Fulcrum Capital LLC Sells 825 Shares of American Tower Co. (NYSE:AMT)

Fulcrum Capital LLC lessened its holdings in shares of American Tower Co. (NYSE:AMT) by 25.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,385 shares of the real estate investment trust’s stock after selling 825 shares during the quarter. Fulcrum Capital LLC’s holdings in American Tower were worth $555,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fairscale Capital LLC bought a new stake in American Tower during the 2nd quarter valued at $27,000. Northwest Investment Counselors LLC bought a new stake in American Tower during the 3rd quarter valued at $30,000. Cultivar Capital Inc. bought a new stake in American Tower during the 2nd quarter valued at $25,000. Hobbs Group Advisors LLC bought a new stake in American Tower during the 2nd quarter valued at $29,000. Finally, Family Firm Inc. bought a new stake in American Tower during the 2nd quarter valued at $35,000. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

Shares of NYSE:AMT opened at $226.27 on Thursday. The company has a market capitalization of $105.69 billion, a P/E ratio of 42.53, a price-to-earnings-growth ratio of 1.08 and a beta of 0.83. American Tower Co. has a fifty-two week low of $159.91 and a fifty-two week high of $243.56. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81. The company’s 50-day moving average is $228.58 and its 200 day moving average is $207.19.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.52). The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. American Tower’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $2.46 earnings per share. On average, equities research analysts forecast that American Tower Co. will post 10.12 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is presently 121.80%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. TD Cowen upped their target price on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upped their target price on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Scotiabank upped their target price on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada upped their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $237.92.

Insider Buying and Selling at American Tower

In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at $14,223,890. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction dated 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 directly owns 31,873 shares in the company, valued at $7,424,177.89. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were 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. This represents 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 valued at $7,795,397 over the last three months. 0.18% of the stock is currently owned by insiders.

American Tower 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.