Friedenthal Financial Buys Shares of 3,456 American Tower Co. (NYSE:AMT)

Friedenthal Financial purchased a new stake in American Tower Co. (NYSE:AMT) during the third quarter, HoldingsChannel.com reports. The fund purchased 3,456 shares of the real estate investment trust’s stock, valued at approximately $804,000.

Other large investors also recently made changes to their positions in the company. Meyer Handelman Co. bought a new stake in shares of American Tower in the first quarter valued at about $801,000. &PARTNERS acquired a new stake in shares of American Tower in the first quarter valued at approximately $711,000. Douglas Lane & Associates LLC lifted its position in shares of American Tower by 2.1% in the first quarter. Douglas Lane & Associates LLC now owns 364,867 shares of the real estate investment trust’s stock worth $72,094,000 after purchasing an additional 7,585 shares in the last quarter. Radnor Capital Management LLC acquired a new stake in American Tower in the 1st quarter valued at $476,000. Finally, Ballentine Partners LLC boosted its stake in shares of American Tower by 1.4% during the 1st quarter. Ballentine Partners LLC now owns 8,550 shares of the real estate investment trust’s stock worth $1,689,000 after buying an additional 122 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In other news, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the transaction, the chief executive officer now owns 61,843 shares in the company, valued at approximately $14,223,890. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Olivier Puech sold 10,005 shares of the business’s 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 sale, the executive vice president now owns 51,746 shares in the company, valued at $12,070,789.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction on Friday, August 2nd. The stock was 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 in the company, valued at approximately $14,223,890. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,723 shares of company stock valued at $7,795,397 over the last ninety days. 0.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on AMT. Scotiabank upped their target price on American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Barclays increased their price target on shares of American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Royal Bank of Canada boosted their price objective on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, The Goldman Sachs Group started coverage on American Tower in a report on Monday, July 1st. They set a “buy” rating and a $230.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to 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 Up 1.0 %

Shares of NYSE AMT opened at $226.30 on Friday. American Tower Co. has a 52-week low of $157.25 and a 52-week high of $243.56. The company’s 50 day moving average price is $228.62 and its 200-day moving average price is $206.42. The company has a market capitalization of $105.68 billion, a P/E ratio of 51.20, a price-to-earnings-growth ratio of 1.01 and a beta of 0.83. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.52). The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the business posted $2.46 earnings per share. Equities analysts forecast that American Tower Co. will post 10.13 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be given a dividend of $1.62 per share. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.86%. American Tower’s payout ratio is presently 146.61%.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.