Wedmont Private Capital Buys 293 Shares of American Tower Co. (NYSE:AMT)

Wedmont Private Capital lifted its stake in American Tower Co. (NYSE:AMT) by 10.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,102 shares of the real estate investment trust’s stock after acquiring an additional 293 shares during the period. Wedmont Private Capital’s holdings in American Tower were worth $693,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in shares of American Tower in the 1st quarter worth $25,000. Fairscale Capital LLC bought a new position in shares of American Tower in the 2nd quarter worth $27,000. Cultivar Capital Inc. acquired a new position in American Tower during the 2nd quarter valued at about $25,000. Hobbs Group Advisors LLC acquired a new position in American Tower during the 2nd quarter valued at about $29,000. Finally, SOA Wealth Advisors LLC. acquired a new position in American Tower during the 1st quarter valued at about $30,000. 92.69% of the stock is owned by institutional investors.

American Tower Stock Up 0.6 %

American Tower stock opened at $219.27 on Friday. The firm has a market cap of $102.42 billion, a price-to-earnings ratio of 41.22, a price-to-earnings-growth ratio of 1.01 and a beta of 0.83. American Tower Co. has a 52 week low of $157.25 and a 52 week high of $243.56. The business’s 50-day moving average price is $228.56 and its 200 day moving average price is $205.38. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42.

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

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 2.96%. The ex-dividend date is Wednesday, October 9th. American Tower’s payout ratio is currently 121.80%.

Analyst Upgrades and Downgrades

AMT has been the topic of several recent analyst reports. Barclays upped their target price on American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday. StockNews.com raised American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group initiated coverage on American Tower in a research report on Monday, July 1st. They set a “buy” rating and a $230.00 target price on the stock. Mizuho upped their target price on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, JPMorgan Chase & Co. increased their price objective on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.21.

Insider Buying and Selling at American Tower

In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the firm’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 directly owns 31,873 shares of the company’s stock, valued at approximately $7,424,177.89. This trade 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 hyperlink. In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the firm’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 directly owns 31,873 shares of the company’s stock, valued at approximately $7,424,177.89. This trade 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 hyperlink. Also, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the completion of the sale, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,723 shares of company stock valued at $7,795,397. Company insiders own 0.18% of the company’s stock.

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.