American Tower Co. (NYSE:AMT) Shares Sold by Boston Financial Mangement LLC

by · The Cerbat Gem

Boston Financial Mangement LLC trimmed its stake in shares of American Tower Co. (NYSE:AMT – Free Report) by 1.3% during the third quarter, Holdings Channel reports. The firm owned 145,614 shares of the real estate investment trust’s stock after selling 1,865 shares during the period. Boston Financial Mangement LLC’s holdings in American Tower were worth $33,864,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Cultivar Capital Inc. acquired a new stake in American Tower in the second quarter worth $25,000. Fairscale Capital LLC acquired a new stake in shares of American Tower in the 2nd quarter worth about $27,000. Hobbs Group Advisors LLC bought a new stake in American Tower in the 2nd quarter valued at about $29,000. Northwest Investment Counselors LLC acquired a new position in American Tower during the 3rd quarter valued at about $30,000. Finally, Family Firm Inc. bought a new position in American Tower in the 2nd quarter worth about $35,000. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT opened at $222.23 on Tuesday. The stock has a market capitalization of $103.80 billion, a P/E ratio of 41.77, a P/E/G ratio of 1.09 and a beta of 0.83. American Tower Co. has a 12-month low of $169.70 and a 12-month high of $243.56. 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 firm’s 50 day moving average is $228.85 and its 200-day moving average is $208.15.

American Tower (NYSE:AMT – Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share 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 analysts’ expectations of $2.82 billion. During the same period in the prior year, the business posted $2.46 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities research analysts anticipate that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is currently 121.80%.

Insider Activity at American Tower

In other American Tower news, EVP Olivier Puech sold 10,005 shares of the stock in a transaction that occurred on 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 $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 is available through this hyperlink. In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the 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 directly owns 31,873 shares of the company’s stock, valued at $7,424,177.89. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Olivier Puech sold 10,005 shares of the firm’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 transaction, 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 valued at $7,795,397. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AMT shares. Royal Bank of Canada lifted their price target on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. TD Cowen boosted their price target on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets increased their price target on American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, Scotiabank increased their target price on shares of American Tower from $223.00 to $248.00 and gave the company a “sector outperform” 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.92.

Check Out Our Latest Stock Analysis on AMT

About American Tower

(Free Report)

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.

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