Friedenthal Financial Makes New Investment in American Tower Co. (NYSE:AMT)

Friedenthal Financial acquired a new position in shares of American Tower Co. (NYSE:AMT) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 3,456 shares of the real estate investment trust’s stock, valued at approximately $804,000.

Several other large investors also recently bought and sold shares of the stock. Northwest Investment Counselors LLC purchased a new stake in American Tower in the 1st quarter valued at $25,000. Fairscale Capital LLC acquired a new stake in American Tower in the second quarter valued at about $27,000. Cultivar Capital Inc. purchased a new stake in American Tower in the 2nd quarter valued at approximately $25,000. Hobbs Group Advisors LLC acquired a new position in American Tower during the 2nd quarter worth approximately $29,000. Finally, Family Firm Inc. purchased a new position in shares of American Tower during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

AMT opened at $226.30 on Friday. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $105.68 billion, a price-to-earnings ratio of 51.20, a price-to-earnings-growth ratio of 1.01 and a beta of 0.83. The business has a 50 day moving average price of $228.62 and a two-hundred day moving average price of $206.42. American Tower Co. has a 1-year low of $157.25 and a 1-year high of $243.56.

American Tower (NYSE:AMT) last issued its earnings results 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). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the previous year, the firm earned $2.46 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. Research analysts predict that American Tower Co. will post 10.13 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be given a $1.62 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 2.86%. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

Insider Transactions at American Tower

In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $7,424,177.89. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other American Tower news, EVP Olivier Puech sold 10,005 shares of the company’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 transaction, the executive vice president now owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 shares were 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 directly owns 31,873 shares in the company, valued at approximately $7,424,177.89. The trade was a 0.00 % decrease in their ownership of the stock. 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 over the last quarter. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of analyst reports. Scotiabank lifted their price target on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Deutsche Bank Aktiengesellschaft upped their target price 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. Barclays boosted their price target on American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, TD Cowen lifted their price target on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Three equities research 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $237.92.

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.