Private Advisor Group LLC Sells 5,303 Shares of American Tower Co. (NYSE:AMT)

Private Advisor Group LLC lowered its position in American Tower Co. (NYSE:AMT) by 6.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 83,428 shares of the real estate investment trust’s stock after selling 5,303 shares during the quarter. Private Advisor Group LLC’s holdings in American Tower were worth $19,423,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AMT. Sound Income Strategies LLC grew its stake in American Tower by 15.0% in the 1st quarter. Sound Income Strategies LLC now owns 882 shares of the real estate investment trust’s stock worth $174,000 after buying an additional 115 shares in the last quarter. Brookstone Capital Management raised its position in American Tower by 1.6% during the first quarter. Brookstone Capital Management now owns 6,108 shares of the real estate investment trust’s stock valued at $1,207,000 after purchasing an additional 96 shares in the last quarter. Key Client Fiduciary Advisors LLC lifted its stake in American Tower by 10.8% during the first quarter. Key Client Fiduciary Advisors LLC now owns 1,179 shares of the real estate investment trust’s stock worth $233,000 after purchasing an additional 115 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in shares of American Tower by 6.5% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,451 shares of the real estate investment trust’s stock worth $682,000 after purchasing an additional 210 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of American Tower by 11.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 249,155 shares of the real estate investment trust’s stock valued at $49,231,000 after purchasing an additional 25,177 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

Shares of American Tower stock opened at $226.27 on Thursday. The business has a 50 day moving average of $228.58 and a 200 day moving average of $207.19. American Tower Co. has a 52 week low of $159.91 and a 52 week high of $243.56. The company has a market cap of $105.66 billion, a PE ratio of 51.19, a P/E/G ratio of 1.03 and a beta of 0.83. 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 posted its earnings results 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). 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 analysts’ expectations of $2.82 billion. During the same period in the prior year, the business posted $2.46 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities research analysts forecast that American Tower Co. will post 10.12 earnings per share for the current year.

American Tower Announces Dividend

The company also recently announced 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. This represents a $6.48 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s dividend payout ratio is currently 146.61%.

Analyst Ratings Changes

AMT has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Mizuho boosted their price target on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. BMO Capital Markets boosted their target price on American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, September 13th. Finally, Scotiabank raised their price target on American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, American Tower currently has an average rating of “Moderate Buy” and a consensus price target of $237.92.

Insider Activity at American Tower

In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the 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 completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the sale, the chief accounting officer now owns 31,873 shares in the company, valued at $7,424,177.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 value of $4,953,510.00. Following the transaction, the chief executive officer now owns 61,843 shares of the company’s stock, valued at $14,223,890. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,723 shares of company stock worth $7,795,397 over the last ninety days. 0.18% of the stock is owned by corporate insiders.

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.