Motco Sells 323 Shares of American Tower Corp (NYSE:AMT)

Motco trimmed its holdings in shares of American Tower Corp (NYSE:AMT) by 14.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,954 shares of the real estate investment trust’s stock after selling 323 shares during the period. Motco’s holdings in American Tower were worth $432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of AMT. TrinityPoint Wealth LLC boosted its holdings 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 buying an additional 49 shares in the last quarter. Biegel & Waller LLC boosted its holdings in shares of American Tower by 2.9% in the 3rd quarter. Biegel & Waller LLC now owns 1,718 shares of the real estate investment trust’s stock valued at $380,000 after buying an additional 49 shares in the last quarter. BKD Wealth Advisors LLC boosted its holdings in shares of American Tower by 1.8% in the 3rd quarter. BKD Wealth Advisors LLC now owns 2,747 shares of the real estate investment trust’s stock valued at $607,000 after buying an additional 49 shares in the last quarter. Hall Laurie J Trustee boosted its holdings 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 buying an additional 50 shares in the last quarter. Finally, Knuff & Co LLC boosted its holdings 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 buying an additional 50 shares in the last quarter. Institutional investors own 92.52% of the company’s stock.

AMT traded up $0.38 during trading on Tuesday, reaching $207.73. 760,279 shares of the company’s stock were exchanged, compared to its average volume of 1,786,898. American Tower Corp has a 1 year low of $150.66 and a 1 year high of $242.00. The company has a debt-to-equity ratio of 4.40, a current ratio of 0.53 and a quick ratio of 0.53. The stock has a market capitalization of $91.19 billion, a P/E ratio of 26.00, a price-to-earnings-growth ratio of 1.65 and a beta of 0.43. The company’s fifty day simple moving average is $220.20 and its 200-day simple moving average is $213.55.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.17. American Tower had a net margin of 20.58% and a return on equity of 27.12%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the firm posted $1.85 EPS. American Tower’s revenue for the quarter was up 9.5% compared to the same quarter last year. Equities analysts forecast that American Tower Corp will post 7.65 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Friday, September 27th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, September 26th. This is a positive change from American Tower’s previous quarterly dividend of $0.92. This represents a $3.80 dividend on an annualized basis and a yield of 1.83%. American Tower’s dividend payout ratio (DPR) is currently 47.56%.

A number of analysts have recently weighed in on AMT shares. Citigroup raised their price target on shares of American Tower from $236.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Cowen lifted their target price on shares of American Tower from $238.00 to $260.00 and gave the stock an “in-line” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their target price on shares of American Tower from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Morgan Stanley lifted their target price on shares of American Tower from $201.00 to $216.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 19th. Finally, ValuEngine cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $215.79.

In other news, SVP Robert Joseph Meyer, Jr. sold 1,000 shares of American Tower stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $206.78, for a total transaction of $206,780.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Edmund Disanto sold 31,669 shares of American Tower stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $226.54, for a total transaction of $7,174,295.26. Following the transaction, the executive vice president now directly owns 166,730 shares of the company’s stock, valued at $37,771,014.20. The disclosure for this sale can be found here. Insiders have sold a total of 141,524 shares of company stock valued at $31,726,127 over the last three months. 0.75% of the stock is currently owned by insiders.

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 171,000 communications sites.

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

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