Financial Gravity Wealth Inc. Has $115,000 Stake in American Tower Corp (NYSE:AMT)

Financial Gravity Wealth Inc. lowered its position in American Tower Corp (NYSE:AMT) by 22.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 518 shares of the real estate investment trust’s stock after selling 148 shares during the period. Financial Gravity Wealth Inc.’s holdings in American Tower were worth $115,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TrinityPoint Wealth LLC increased its stake in shares of American Tower by 1.4% in the 2nd quarter. TrinityPoint Wealth LLC now owns 3,479 shares of the real estate investment trust’s stock valued at $712,000 after acquiring an additional 49 shares in the last quarter. Hall Laurie J Trustee increased its stake in shares of American Tower by 13.3% in the 2nd quarter. Hall Laurie J Trustee now owns 425 shares of the real estate investment trust’s stock valued at $87,000 after acquiring an additional 50 shares in the last quarter. Knuff & Co LLC increased its stake in shares of American Tower by 0.3% in the 2nd quarter. Knuff & Co LLC now owns 18,390 shares of the real estate investment trust’s stock valued at $3,760,000 after acquiring an additional 50 shares in the last quarter. GYL Financial Synergies LLC increased its stake in shares of American Tower by 4.5% in the 2nd quarter. GYL Financial Synergies LLC now owns 1,167 shares of the real estate investment trust’s stock valued at $239,000 after acquiring an additional 50 shares in the last quarter. Finally, Veritable L.P. increased its stake in shares of American Tower by 0.3% in the 2nd quarter. Veritable L.P. now owns 20,092 shares of the real estate investment trust’s stock valued at $4,108,000 after acquiring an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 92.56% of the company’s stock.

In other news, EVP Edmund Disanto sold 31,669 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $226.54, for a total value of $7,174,295.26. Following the completion of the sale, the executive vice president now owns 166,730 shares in the company, valued at approximately $37,771,014.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Craig Macnab sold 5,953 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $225.46, for a total transaction of $1,342,163.38. Following the completion of the sale, the director now owns 14,341 shares of the company’s stock, valued at approximately $3,233,321.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 199,901 shares of company stock valued at $44,110,977. Company insiders own 0.75% of the company’s stock.

Shares of AMT stock opened at $221.97 on Thursday. The firm has a market capitalization of $99.89 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 1.83 and a beta of 0.44. The firm has a fifty day simple moving average of $225.01 and a two-hundred day simple moving average of $210.84. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 4.13. American Tower Corp has a 12 month low of $144.43 and a 12 month high of $242.00.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.96 EPS for the quarter, missing the Zacks’ consensus estimate of $1.87 by ($0.91). The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.83 billion. American Tower had a net margin of 19.30% and a return on equity of 24.75%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.74 EPS. On average, equities analysts predict that American Tower Corp will post 7.67 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Friday, September 27th will be paid a $0.95 dividend. This is a positive change from American Tower’s previous quarterly dividend of $0.92. The ex-dividend date is Thursday, September 26th. This represents a $3.80 annualized dividend and a dividend yield of 1.71%. American Tower’s dividend payout ratio is presently 47.56%.

Several analysts have recently weighed in on the stock. SunTrust Banks lifted their price objective on shares of American Tower to $230.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Morgan Stanley lifted their price objective on shares of American Tower from $201.00 to $216.00 and gave the company an “equal weight” rating in a research note on Thursday, September 19th. Zacks Investment Research upgraded shares of American Tower from a “hold” rating to a “buy” rating and set a $237.00 price objective for the company in a research note on Tuesday, August 20th. JPMorgan Chase & Co. lifted their price objective on shares of American Tower from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, Citigroup boosted their price target on shares of American Tower from $236.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $206.87.

American Tower 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 171,000 communications sites.

Further Reading: Average Daily Trade Volume – ADTV

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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