Compass Wealth Management LLC Has $3.75 Million Stake in American Tower Co. (NYSE:AMT)

Compass Wealth Management LLC raised its position in American Tower Co. (NYSE:AMT) by 1.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 16,144 shares of the real estate investment trust’s stock after purchasing an additional 250 shares during the period. Compass Wealth Management LLC’s holdings in American Tower were worth $3,754,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in shares of American Tower by 36.2% during the 1st quarter. Principal Financial Group Inc. now owns 8,794,776 shares of the real estate investment trust’s stock valued at $1,737,760,000 after acquiring an additional 2,336,501 shares during the period. Ameriprise Financial Inc. lifted its position in shares of American Tower by 41.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock valued at $1,243,333,000 after acquiring an additional 1,885,421 shares during the period. Vanguard Group Inc. lifted its position in shares of American Tower by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock valued at $12,248,812,000 after acquiring an additional 965,938 shares during the period. M&G Plc acquired a new position in shares of American Tower during the 1st quarter valued at $164,300,000. Finally, Swedbank AB acquired a new position in shares of American Tower during the 1st quarter valued at $123,861,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. Mizuho upped their target price 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. Barclays upped their target price on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. raised their price objective on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Three investment 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $235.21.

Insiders Place Their Bets

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 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 directly owns 61,843 shares in the company, valued at $14,223,890. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Olivier Puech sold 10,005 shares of the 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 transaction, the executive vice president now directly owns 51,746 shares in the company, valued at approximately $12,070,789.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven O. Vondran sold 21,537 shares of the 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 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 disclosure for this sale can be found here. Insiders have sold 33,723 shares of company stock worth $7,795,397 in the last ninety days. 0.18% of the stock is currently owned by insiders.

American Tower Price Performance

AMT traded down $2.44 during trading on Thursday, reaching $225.08. 558,789 shares of the company were exchanged, compared to its average volume of 2,277,238. The company’s 50-day moving average is $228.54 and its two-hundred day moving average is $206.06. The company has a market cap of $105.13 billion, a price-to-earnings ratio of 42.78, a P/E/G ratio of 1.01 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 Co. has a 12-month low of $157.25 and a 12-month high of $243.56.

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 analysts’ consensus estimates of $2.44 by ($0.52). The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the company posted $2.46 EPS. Research analysts forecast that American Tower Co. will post 10.13 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 2.88%. American Tower’s dividend payout ratio is currently 121.80%.

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.