Watts Gwilliam & Co. LLC Buys Shares of 1,625 American Tower Co. (NYSE:AMT)

Watts Gwilliam & Co. LLC bought a new position in American Tower Co. (NYSE:AMT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,625 shares of the real estate investment trust’s stock, valued at approximately $364,000.

A number of other institutional investors have also modified their holdings of AMT. NBT Bank N A NY raised its holdings in shares of American Tower by 3.3% in the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock valued at $329,000 after buying an additional 54 shares during the last quarter. O Brien Greene & Co. Inc raised its stake in American Tower by 2.3% during the 2nd quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock valued at $481,000 after acquiring an additional 55 shares during the last quarter. CFO4Life Group LLC lifted its position 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 acquiring an additional 57 shares during the period. Tyche Wealth Partners LLC grew its stake in shares of American Tower by 4.9% in the 2nd quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock valued at $242,000 after purchasing an additional 58 shares during the last quarter. Finally, Adirondack Trust Co. increased its holdings in shares of American Tower by 2.1% in the first quarter. Adirondack Trust Co. now owns 2,813 shares of the real estate investment trust’s stock valued at $556,000 after purchasing an additional 59 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at American Tower

In other news, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 51,746 shares in the company, valued at $12,070,789.42. This trade 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 is available through this link. In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the transaction, the chief accounting officer now owns 31,873 shares of the company’s stock, valued at $7,424,177.89. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the sale, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at $12,070,789.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 33,723 shares of company stock worth $7,795,397. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AMT shares. BMO Capital Markets lifted their price objective on shares of American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, September 13th. Royal Bank of Canada lifted their target price on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Barclays increased their price target on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a report on Thursday. StockNews.com raised American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Finally, Mizuho increased their target price on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, American Tower has an average rating of “Moderate Buy” and a consensus price target of $235.21.

American Tower Stock Performance

NYSE AMT opened at $219.27 on Friday. 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 fifty-two week low of $157.25 and a fifty-two week high of $243.56. The business has a fifty day moving average of $228.56 and a 200-day moving average of $205.38. The stock has a market cap of $102.42 billion, a price-to-earnings ratio of 41.22, a price-to-earnings-growth ratio of 1.01 and a beta of 0.83.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.52). The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates 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 period in the previous year, the firm posted $2.46 EPS. As a group, analysts predict that American Tower Co. will post 10.13 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company 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 annualized dividend and a yield of 2.96%. American Tower’s payout ratio is currently 121.80%.

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.