Evermay Wealth Management LLC Sells 100 Shares of American Tower Co. (NYSE:AMT)

Evermay Wealth Management LLC trimmed its position in shares of American Tower Co. (NYSE:AMT) by 8.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,074 shares of the real estate investment trust’s stock after selling 100 shares during the quarter. Evermay Wealth Management LLC’s holdings in American Tower were worth $250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Ariston Services Group purchased a new stake in shares of American Tower during the 3rd quarter valued at $203,000. Highline Wealth Partners LLC bought a new position in shares of American Tower during the 3rd quarter valued at approximately $811,000. Adams Diversified Equity Fund Inc. purchased a new stake in shares of American Tower during the 3rd quarter worth approximately $16,512,000. WD Rutherford LLC raised its holdings in shares of American Tower by 56.3% in the 3rd quarter. WD Rutherford LLC now owns 6,096 shares of the real estate investment trust’s stock worth $1,418,000 after purchasing an additional 2,196 shares during the period. Finally, Childress Capital Advisors LLC lifted its stake in American Tower by 4.1% in the third quarter. Childress Capital Advisors LLC now owns 2,137 shares of the real estate investment trust’s stock valued at $497,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMT. Deutsche Bank Aktiengesellschaft increased their price target on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. TD Cowen boosted their price target on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Barclays boosted their price objective on shares of American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. StockNews.com raised American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average target price of $237.92.

American Tower Stock Performance

NYSE:AMT traded up $1.89 during trading hours on Wednesday, hitting $214.80. 435,064 shares of the company were exchanged, compared to its average volume of 2,267,592. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The stock has a market capitalization of $100.33 billion, a price-to-earnings ratio of 40.48, a PEG ratio of 1.09 and a beta of 0.83. The company’s 50 day moving average price is $228.70 and its 200-day moving average price is $208.39.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). The company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.58 EPS. As a group, research analysts forecast that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.02%. The ex-dividend date was Wednesday, October 9th. American Tower’s payout ratio is 121.80%.

Insider Activity at American Tower

In other news, EVP Olivier Puech sold 10,005 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Steven O. Vondran sold 21,537 shares of the business’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 value of $4,953,510.00. Following the completion of the transaction, the chief executive officer now owns 61,843 shares of the company’s stock, valued at $14,223,890. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Olivier Puech sold 10,005 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the transaction, the executive vice president now directly owns 51,746 shares in the company, valued at approximately $12,070,789.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,723 shares of company stock worth $7,795,397 in the last three months. Insiders own 0.18% of the company’s stock.

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.