IFG Advisory LLC cut its holdings in American Tower Corp (NYSE:AMT) by 7.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,953 shares of the real estate investment trust’s stock after selling 402 shares during the period. IFG Advisory LLC’s holdings in American Tower were worth $719,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Mount Yale Investment Advisors LLC raised its stake in shares of American Tower by 354.4% during the second quarter. Mount Yale Investment Advisors LLC now owns 718 shares of the real estate investment trust’s stock valued at $104,000 after acquiring an additional 560 shares during the last quarter. Kaizen Advisory LLC raised its stake in shares of American Tower by 140.6% during the second quarter. Kaizen Advisory LLC now owns 1,008 shares of the real estate investment trust’s stock valued at $145,000 after acquiring an additional 589 shares during the last quarter. Valeo Financial Advisors LLC raised its stake in shares of American Tower by 75.0% during the second quarter. Valeo Financial Advisors LLC now owns 1,029 shares of the real estate investment trust’s stock valued at $153,000 after acquiring an additional 441 shares during the last quarter. Sun Life Financial INC raised its stake in shares of American Tower by 311.3% during the second quarter. Sun Life Financial INC now owns 1,197 shares of the real estate investment trust’s stock valued at $173,000 after acquiring an additional 906 shares during the last quarter. Finally, RMR Advisors LLC bought a new position in shares of American Tower during the second quarter valued at about $173,000. 93.24% of the stock is owned by institutional investors and hedge funds.
In other news, Director Pamela D. A. Reeve sold 7,152 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $148.92, for a total transaction of $1,065,075.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Robert Joseph Meyer, Jr. sold 44,959 shares of the stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $156.43, for a total transaction of $7,032,936.37. The disclosure for this sale can be found here. In the last 90 days, insiders sold 228,277 shares of company stock worth $35,600,371. Corporate insiders own 0.87% of the company’s stock.
Shares of AMT opened at $159.36 on Friday. The stock has a market capitalization of $68.84 billion, a price-to-earnings ratio of 24.98, a price-to-earnings-growth ratio of 1.51 and a beta of 0.59. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.72 and a current ratio of 0.72. American Tower Corp has a fifty-two week low of $130.37 and a fifty-two week high of $161.71.
American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.02. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.76 billion. American Tower had a net margin of 17.07% and a return on equity of 18.55%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.73 earnings per share. As a group, equities analysts predict that American Tower Corp will post 7.58 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 17th. Shareholders of record on Friday, September 28th were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Thursday, September 27th. This is a boost from American Tower’s previous quarterly dividend of $0.77. American Tower’s dividend payout ratio is 49.53%.
Several brokerages have recently commented on AMT. Zacks Investment Research raised shares of American Tower from a “sell” rating to a “hold” rating in a research note on Thursday, October 18th. Citigroup downgraded shares of American Tower from a “buy” rating to a “neutral” rating and upped their price objective for the company from $161.00 to $176.00 in a research note on Wednesday, October 31st. Royal Bank of Canada upped their price objective on shares of American Tower to $173.00 and gave the company an “outperform” rating in a research note on Thursday, November 1st. Bank of America set a $172.00 price target on shares of American Tower and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Finally, Cowen reissued a “buy” rating and issued a $161.00 price target on shares of American Tower in a research note on Wednesday, August 1st. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $164.20.
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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 approximately 170,000 communications sites.
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