Raymond James & Associates Has $202.58 Million Stake in American Tower Co. (NYSE:AMT)

Raymond James & Associates lessened its holdings in American Tower Co. (NYSE:AMT) by 9.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 871,104 shares of the real estate investment trust’s stock after selling 96,240 shares during the period. Raymond James & Associates owned about 0.19% of American Tower worth $202,584,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. NBT Bank N A NY boosted its holdings in 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 worth $329,000 after purchasing an additional 54 shares in the last quarter. CX Institutional boosted its holdings in American Tower by 2.9% during the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after acquiring an additional 54 shares during the period. O Brien Greene & Co. Inc grew its position in shares of American Tower by 2.3% in the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock valued at $481,000 after purchasing an additional 55 shares during the last quarter. CFO4Life Group LLC boosted its stake 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 valued at $221,000 after purchasing an additional 57 shares during the period. Finally, Tyche Wealth Partners LLC increased its position in 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 worth $242,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Olivier Puech sold 10,005 shares of the firm’s 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 sale, the executive vice president now owns 51,746 shares of the company’s stock, 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 SEC, which is available through this hyperlink. In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the sale, the executive vice president now owns 51,746 shares in the company, valued at approximately $12,070,789.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,723 shares of company stock worth $7,795,397. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AMT shares. Deutsche Bank Aktiengesellschaft boosted 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. Wells Fargo & Company downgraded American Tower from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. StockNews.com upgraded American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada raised their target price on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Finally, BMO Capital Markets boosted their price target on shares of American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, September 13th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $237.92.

American Tower Stock Up 1.0 %

NYSE:AMT opened at $226.30 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 12-month low of $157.25 and a 12-month high of $243.56. The stock’s fifty day simple moving average is $228.62 and its 200-day simple moving average is $206.51. The firm has a market capitalization of $105.68 billion, a P/E ratio of 51.20, a P/E/G ratio of 1.01 and a beta of 0.83.

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). The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. American Tower’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $2.46 EPS. Equities research analysts expect that American Tower Co. will post 10.13 earnings per share for the current year.

American Tower Dividend Announcement

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

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.