ST Germain D J Co. Inc. Reduces Holdings in American Tower Co. (NYSE:AMT)

ST Germain D J Co. Inc. cut its position in American Tower Co. (NYSE:AMT) by 54.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 502 shares of the real estate investment trust’s stock after selling 607 shares during the quarter. ST Germain D J Co. Inc.’s holdings in American Tower were worth $98,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Allstate Corp boosted its position in American Tower by 3.1% in the 4th quarter. Allstate Corp now owns 1,750 shares of the real estate investment trust’s stock valued at $378,000 after buying an additional 53 shares during the last quarter. McIlrath & Eck LLC boosted its holdings in American Tower by 13.9% in the fourth quarter. McIlrath & Eck LLC now owns 459 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 56 shares during the last quarter. Glassman Wealth Services grew its stake in American Tower by 4.7% during the 4th quarter. Glassman Wealth Services now owns 1,242 shares of the real estate investment trust’s stock valued at $268,000 after purchasing an additional 56 shares in the last quarter. CFO4Life Group LLC increased its holdings in American Tower by 5.4% during the 1st quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock worth $221,000 after purchasing an additional 57 shares during the last quarter. Finally, Choreo LLC raised its position in shares of American Tower by 1.4% in the 4th quarter. Choreo LLC now owns 4,269 shares of the real estate investment trust’s stock valued at $922,000 after purchasing an additional 58 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Stock Performance

AMT stock traded up $1.97 during mid-day trading on Tuesday, reaching $228.16. The company had a trading volume of 2,704,774 shares, compared to its average volume of 2,353,662. The stock’s 50-day simple moving average is $201.82 and its two-hundred day simple moving average is $194.27. The stock has a market capitalization of $106.55 billion, a P/E ratio of 51.62, a P/E/G ratio of 1.65 and a beta of 0.81. The company has a quick ratio of 0.85, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower Co. has a one year low of $154.58 and a one year high of $236.13.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the firm earned $2.46 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts anticipate that American Tower Co. will post 10.04 EPS for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 14th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Friday, June 14th. American Tower’s dividend payout ratio is currently 146.61%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AMT. BMO Capital Markets reissued an “outperform” rating and set a $246.00 price target (up previously from $225.00) on shares of American Tower in a research report on Wednesday, July 31st. Morgan Stanley boosted their target price on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Raymond James raised shares of American Tower from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $226.00 to $248.00 in a research report on Wednesday, May 1st. The Goldman Sachs Group started coverage on American Tower in a report on Monday, July 1st. They issued a “buy” rating and a $230.00 price objective for the company. Finally, Mizuho initiated coverage on American Tower in a report on Monday, April 8th. They set a “neutral” rating and a $205.00 target price on the stock. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $230.42.

Insider Buying and Selling at American Tower

In other news, EVP Sanjay Goel sold 3,504 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total value of $702,061.44. Following the completion of the transaction, the executive vice president now owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’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 transaction of $508,020.33. Following the sale, the chief accounting officer now owns 31,873 shares of the company’s stock, valued at $7,424,177.89. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sanjay Goel sold 3,504 shares of American Tower stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total value of $702,061.44. Following the transaction, the executive vice president now owns 28,413 shares in the company, valued at $5,692,828.68. The disclosure for this sale can be found here. Insiders have sold 37,227 shares of company stock valued at $8,497,458 in the last quarter. Corporate insiders own 0.18% of the company’s stock.

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.