American Tower Co. (NYSE:AMT) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. lessened its stake in shares of American Tower Co. (NYSE:AMT) by 6.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,039,169 shares of the real estate investment trust’s stock after selling 68,629 shares during the period. Vontobel Holding Ltd. owned 0.22% of American Tower worth $241,669,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMT. Vanguard Group Inc. boosted its stake in shares of American Tower by 1.6% in the first quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock worth $12,248,812,000 after acquiring an additional 965,938 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of American Tower by 36.2% during the first quarter. Principal Financial Group Inc. now owns 8,794,776 shares of the real estate investment trust’s stock worth $1,737,760,000 after buying an additional 2,336,501 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of American Tower by 41.8% during the second quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after buying an additional 1,885,421 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of American Tower by 8.9% in the second quarter. Clearbridge Investments LLC now owns 3,705,145 shares of the real estate investment trust’s stock valued at $720,206,000 after buying an additional 302,676 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in American Tower by 16.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust’s stock worth $643,571,000 after acquiring an additional 464,429 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMT has been the subject of a number of recent research reports. Barclays increased their price objective on shares of American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. TD Cowen upped their target price on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com raised American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $235.21.

Insider Activity at American Tower

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 sale, the chief accounting officer now directly owns 31,873 shares in the company, valued at $7,424,177.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower 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 completion of the transaction, the chief accounting officer now owns 31,873 shares of the company’s stock, valued at $7,424,177.89. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,723 shares of company stock worth $7,795,397. Corporate insiders own 0.18% of the company’s stock.

American Tower Trading Up 0.3 %

American Tower stock traded up $0.60 during trading on Wednesday, hitting $230.03. The company had a trading volume of 349,832 shares, compared to its average volume of 2,279,989. The stock has a market cap of $107.42 billion, a price-to-earnings ratio of 51.93, a price-to-earnings-growth ratio of 1.00 and a beta of 0.83. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower Co. has a 1-year low of $157.25 and a 1-year high of $243.56. The company’s 50 day simple moving average is $228.51 and its 200-day simple moving average is $205.91.

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 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 during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the firm posted $2.46 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, analysts expect that American Tower Co. will post 10.13 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Wednesday, October 9th. American Tower’s payout ratio is 146.61%.

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.