Cordatus Wealth Management LLC Increases Position in American Tower Co. (NYSE:AMT)

Cordatus Wealth Management LLC grew its position in American Tower Co. (NYSE:AMTFree Report) by 1.8% during the third quarter, Holdings Channel.com reports. The firm owned 6,321 shares of the real estate investment trust’s stock after acquiring an additional 109 shares during the period. Cordatus Wealth Management LLC’s holdings in American Tower were worth $1,470,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. NBT Bank N A NY boosted its position in shares of American Tower by 3.3% during the 2nd quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock worth $329,000 after acquiring an additional 54 shares in the last quarter. CX Institutional boosted its holdings in American Tower by 2.9% in the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after purchasing an additional 54 shares in the last quarter. O Brien Greene & Co. Inc increased its stake in American Tower by 2.3% in the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock valued at $481,000 after purchasing an additional 55 shares during the last quarter. CFO4Life Group LLC raised its holdings in American Tower by 5.4% during the first quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock worth $221,000 after purchasing an additional 57 shares in the last quarter. Finally, Palumbo Wealth Management LLC lifted its position in shares of American Tower by 1.6% during the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after buying an additional 57 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Performance

NYSE:AMT traded up $1.01 during midday trading on Thursday, reaching $214.49. The stock had a trading volume of 513,770 shares, compared to its average volume of 2,269,004. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The stock has a market cap of $100.18 billion, a P/E ratio of 40.17, a P/E/G ratio of 1.09 and a beta of 0.83. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. The firm has a fifty day simple moving average of $228.58 and a two-hundred day simple moving average of $208.42.

American Tower (NYSE:AMTGet Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the prior year, the company earned $2.58 earnings per share. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, equities analysts expect that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were paid a $1.62 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.02%. American Tower’s dividend payout ratio (DPR) is presently 121.80%.

Insider Buying and Selling

In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $232.93, for a total value of $508,020.33. Following the completion of the transaction, the chief accounting officer now owns 31,873 shares in the company, valued at $7,424,177.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the sale, the chief accounting officer now owns 31,873 shares in the company, valued at $7,424,177.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction on Friday, August 2nd. The stock was 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 directly owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,723 shares of company stock valued at $7,795,397 over the last quarter. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Mizuho lifted their price target on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Barclays lifted their target price on American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft boosted their target price on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Royal Bank of Canada raised their price target on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, Scotiabank decreased their price objective on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and a consensus price target of $235.85.

Check Out Our Latest Research Report on American Tower

American Tower Company Profile

(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.

Featured Articles

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Co. (NYSE:AMTFree Report).

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

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.