American Tower Co. (NYSE:AMT) Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its position in shares of American Tower Co. (NYSE:AMT) by 20.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,443 shares of the real estate investment trust’s stock after acquiring an additional 930 shares during the period. Ritholtz Wealth Management’s holdings in American Tower were worth $1,266,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Meyer Handelman Co. bought a new position in shares of American Tower in the 1st quarter worth about $801,000. Czech National Bank boosted its stake in American Tower by 6.9% in the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after acquiring an additional 6,163 shares during the period. Kingsview Wealth Management LLC boosted its stake in American Tower by 13.8% in the first quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock valued at $7,613,000 after acquiring an additional 4,660 shares during the period. Tidal Investments LLC grew its holdings in shares of American Tower by 27.7% during the first quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock valued at $4,029,000 after purchasing an additional 4,430 shares during the last quarter. Finally, Cetera Advisors LLC raised its position in shares of American Tower by 29.0% during the 1st quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock worth $8,157,000 after purchasing an additional 9,275 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 0.6 %

Shares of AMT stock opened at $219.27 on Monday. 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 stock has a 50-day simple moving average of $228.56 and a 200 day simple moving average of $205.51. American Tower Co. has a fifty-two week low of $157.25 and a fifty-two week high of $243.56. The stock has a market capitalization of $102.39 billion, a P/E ratio of 49.61, a P/E/G ratio of 1.00 and a beta of 0.83.

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

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s dividend payout ratio is presently 146.61%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AMT shares. Royal Bank of Canada upped their price objective on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Barclays increased their price objective on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, The Goldman Sachs Group began coverage on American Tower in a research report on Monday, July 1st. They set a “buy” rating and a $230.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average target price of $235.21.

Insider Buying and Selling

In related news, 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 $14,223,890. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, 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 transaction, the chief executive officer now owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the sale, the chief accounting officer now directly owns 31,873 shares in the company, valued at approximately $7,424,177.89. This trade 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 worth $7,795,397 in the last three months. 0.18% of the stock is currently owned by insiders.

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.