American Tower Co. (NYSE:AMT) Shares Sold by PATRIZIA Pty Ltd

PATRIZIA Pty Ltd cut its holdings in American Tower Co. (NYSE:AMT) by 6.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 26,144 shares of the real estate investment trust’s stock after selling 1,799 shares during the period. American Tower comprises approximately 9.0% of PATRIZIA Pty Ltd’s holdings, making the stock its 9th biggest position. PATRIZIA Pty Ltd’s holdings in American Tower were worth $6,080,000 as of its most recent SEC filing.

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

American Tower Price Performance

American Tower stock traded down $0.53 during trading hours on Monday, hitting $218.74. 85,990 shares of the stock were exchanged, compared to its average volume of 2,282,434. American Tower Co. has a 12 month low of $157.25 and a 12 month high of $243.56. The business’s 50-day moving average is $228.56 and its two-hundred day moving average is $205.51. 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 stock has a market capitalization of $102.15 billion, a P/E ratio of 49.61, a P/E/G ratio of 1.00 and a beta of 0.83.

American Tower (NYSE:AMT) last issued its quarterly earnings data 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). The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.46 EPS. Equities research analysts expect that American Tower Co. will post 10.13 EPS 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. Shareholders of record on Wednesday, October 9th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s payout ratio is presently 146.61%.

Insiders Place Their Bets

In related news, CEO Steven O. Vondran sold 21,537 shares of the firm’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 owns 61,843 shares in the company, valued at $14,223,890. This trade 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 is available at the SEC website. In other news, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 51,746 shares in the company, valued at approximately $12,070,789.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steven O. Vondran sold 21,537 shares of American Tower 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 completion of the sale, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,723 shares of company stock valued at $7,795,397. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of research analyst reports. Scotiabank upped 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. Deutsche Bank Aktiengesellschaft increased their price target on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. The Goldman Sachs Group initiated coverage on shares of American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 price objective on the stock. TD Cowen boosted their price target on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Mizuho boosted their target price on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $235.21.

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.