Bartlett & CO. Wealth Management LLC Buys 13,574 Shares of American Tower Co. (NYSE:AMT)

Bartlett & CO. Wealth Management LLC boosted its position in shares of American Tower Co. (NYSE:AMT) by 4.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 310,471 shares of the real estate investment trust’s stock after purchasing an additional 13,574 shares during the period. Bartlett & CO. Wealth Management LLC owned about 0.07% of American Tower worth $72,203,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Meyer Handelman Co. bought a new stake in American Tower in the 1st quarter valued at approximately $801,000. Czech National Bank lifted its position in shares of American Tower by 6.9% in the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after purchasing an additional 6,163 shares in the last quarter. Kingsview Wealth Management LLC grew its position in American Tower by 13.8% in the first quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock valued at $7,613,000 after purchasing an additional 4,660 shares in the last quarter. Tidal Investments LLC increased its stake in American Tower by 27.7% in the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock valued at $4,029,000 after buying an additional 4,430 shares during the last quarter. Finally, Cetera Advisors LLC lifted its position in American Tower by 29.0% during the 1st quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock worth $8,157,000 after buying an additional 9,275 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Trading Up 1.0 %

Shares of American Tower stock opened at $226.30 on Friday. 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 cap of $105.68 billion, a PE ratio of 51.20, a PEG ratio of 1.01 and a beta of 0.83. American Tower Co. has a 52-week low of $157.25 and a 52-week high of $243.56. The firm has a 50-day moving average of $228.62 and a 200-day moving average of $206.42.

American Tower (NYSE:AMT) last announced its quarterly earnings data 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). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the prior year, the firm earned $2.46 earnings per share. American Tower’s revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts forecast that American Tower Co. will post 10.13 EPS for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s dividend payout ratio is 146.61%.

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 dated Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the completion of the transaction, the chief accounting officer now directly owns 31,873 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Steven O. Vondran sold 21,537 shares of the business’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 of the company’s stock, valued at $14,223,890. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the firm’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 value of $508,020.33. Following the sale, the chief accounting officer now directly 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. Insiders sold a total of 33,723 shares of company stock valued at $7,795,397 in the last quarter. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Scotiabank raised their price objective on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 31st. Mizuho upped their price objective on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. BMO Capital Markets upped their price target on shares of American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, September 13th. Finally, StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.92.

American Tower Company 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.