Delta Investment Management LLC Sells 192 Shares of American Tower Co. (NYSE:AMT)

Delta Investment Management LLC reduced its position in American Tower Co. (NYSE:AMT) by 13.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,214 shares of the real estate investment trust’s stock after selling 192 shares during the period. Delta Investment Management LLC’s holdings in American Tower were worth $240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of AMT. Cross Staff Investments Inc boosted its stake in shares of American Tower by 5.1% during the 4th quarter. Cross Staff Investments Inc now owns 5,027 shares of the real estate investment trust’s stock worth $1,085,000 after acquiring an additional 244 shares during the last quarter. Anchor Capital Advisors LLC grew its holdings in American Tower by 38.1% during the fourth quarter. Anchor Capital Advisors LLC now owns 76,625 shares of the real estate investment trust’s stock valued at $16,542,000 after purchasing an additional 21,139 shares during the period. Meyer Handelman Co. purchased a new stake in American Tower in the first quarter worth about $801,000. TD Asset Management Inc raised its stake in shares of American Tower by 23.2% in the fourth quarter. TD Asset Management Inc now owns 275,428 shares of the real estate investment trust’s stock worth $59,459,000 after buying an additional 51,882 shares during the period. Finally, FAS Wealth Partners Inc. bought a new position in shares of American Tower during the 4th quarter valued at approximately $2,001,000. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other American Tower news, EVP Sanjay Goel sold 3,504 shares of American Tower stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the transaction, the executive vice president now owns 28,413 shares in the company, valued at $5,692,828.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Robert D. Hormats sold 700 shares of American Tower stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the completion of the sale, the director now owns 7,332 shares in the company, valued at approximately $1,345,422. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Sanjay Goel sold 3,504 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the transaction, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

American Tower Stock Down 0.2 %

NYSE:AMT traded down $0.45 during mid-day trading on Friday, hitting $210.20. 591,525 shares of the company’s stock traded hands, compared to its average volume of 2,335,975. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $98.16 billion, a P/E ratio of 47.63, a P/E/G ratio of 1.50 and a beta of 0.81. The company has a fifty day moving average of $195.10 and a 200 day moving average of $194.01. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a net margin of 18.42% and a return on equity of 18.45%. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same quarter in the previous year, the company posted $2.54 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, analysts forecast that American Tower Co. will post 10.04 EPS for the current year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 14th were given a dividend of $1.62 per share. The ex-dividend date was Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a yield of 3.08%. American Tower’s payout ratio is 146.61%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Scotiabank decreased their price target on American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a report on Wednesday, May 1st. Wells Fargo & Company lifted their target price on American Tower from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday. Barclays dropped their price target on American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Raymond James raised shares of American Tower from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $226.00 to $248.00 in a report on Wednesday, May 1st. Finally, BMO Capital Markets dropped their target price on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and an average price target of $222.92.

About American Tower

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.