American Tower Co. (NYSE:AMT) Shares Sold by Romano Brothers AND Company

Romano Brothers AND Company trimmed its holdings in American Tower Co. (NYSE:AMT) by 6.5% during the third quarter, HoldingsChannel.com reports. The fund owned 1,085 shares of the real estate investment trust’s stock after selling 75 shares during the period. Romano Brothers AND Company’s holdings in American Tower were worth $252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Czech National Bank raised its holdings in shares of American Tower by 6.9% in the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after buying an additional 6,163 shares during the last quarter. Kingsview Wealth Management LLC raised its stake in American Tower by 13.8% during the 1st quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock valued at $7,613,000 after acquiring an additional 4,660 shares during the last quarter. Tidal Investments LLC lifted its position in American Tower by 27.7% during the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock worth $4,029,000 after acquiring an additional 4,430 shares during the period. Cetera Advisors LLC grew its stake in shares of American Tower by 29.0% in the 1st quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock valued at $8,157,000 after purchasing an additional 9,275 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of American Tower by 5.3% in the first quarter. Nordea Investment Management AB now owns 871,635 shares of the real estate investment trust’s stock valued at $172,061,000 after purchasing an additional 43,531 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Down 0.2 %

NYSE:AMT opened at $225.88 on Friday. The company has a market capitalization of $105.50 billion, a PE ratio of 42.46, a price-to-earnings-growth ratio of 1.08 and a beta of 0.83. American Tower Co. has a 52-week low of $160.49 and a 52-week high of $243.56. The stock has a fifty day simple moving average of $228.58 and a 200-day simple moving average of $207.19. 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 announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) 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 business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period last year, the company earned $2.46 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts expect that American Tower Co. will post 10.12 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 2.87%. American Tower’s dividend payout ratio is currently 121.80%.

Insider Activity 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 value of $4,953,510.00. Following the transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the completion of the sale, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The trade was 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 quarter. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on AMT shares. StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Scotiabank boosted their price target 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. Barclays raised their price objective on shares of American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Royal Bank of Canada boosted their target price on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. lifted their price target on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $237.92.

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.