1,282 Shares in American Tower Co. (NYSE:AMT) Purchased by Fiduciary Alliance LLC

Fiduciary Alliance LLC bought a new stake in American Tower Co. (NYSE:AMT) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,282 shares of the real estate investment trust’s stock, valued at approximately $246,000.

Several other institutional investors also recently added to or reduced their stakes in AMT. Cross Staff Investments Inc raised its stake in 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 valued at $1,085,000 after purchasing an additional 244 shares during the last quarter. Anchor Capital Advisors LLC lifted its stake in shares of American Tower by 38.1% in 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 buying an additional 21,139 shares during the period. Meyer Handelman Co. acquired a new stake in American Tower during the first quarter worth about $801,000. TD Asset Management Inc increased its stake in American Tower by 23.2% during the fourth quarter. TD Asset Management Inc now owns 275,428 shares of the real estate investment trust’s stock valued at $59,459,000 after acquiring an additional 51,882 shares during the period. Finally, Kingsview Wealth Management LLC raised its holdings in American Tower by 13.8% in the 1st 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 in the last quarter. 92.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AMT. Scotiabank boosted their price objective on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research report on Wednesday, July 31st. Raymond James upgraded shares of American Tower from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $226.00 to $248.00 in a research note on Wednesday, May 1st. Wells Fargo & Company increased their target price on shares of American Tower from $225.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group began coverage on shares of American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 target price for the company. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $230.42.

Insider Buying and Selling at American Tower

In other 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 transaction of $508,020.33. Following the sale, the chief accounting officer now owns 31,873 shares in the company, valued at approximately $7,424,177.89. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $2,333,866.35. Following the transaction, the executive vice president now directly owns 51,746 shares in the company, valued at approximately $12,070,789.42. The disclosure for this sale can be found here. Insiders sold a total of 37,227 shares of company stock worth $8,497,458 over the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

American Tower Stock Down 0.9 %

Shares of NYSE:AMT traded down $2.13 during mid-day trading on Wednesday, reaching $226.03. 3,315,735 shares of the stock were exchanged, compared to its average volume of 2,360,306. The stock’s 50 day simple moving average is $202.68 and its 200-day simple moving average is $194.45. American Tower Co. has a one year low of $154.58 and a one year high of $236.13. The company has a market cap of $105.55 billion, a P/E ratio of 51.71, a P/E/G ratio of 1.65 and a beta of 0.81. The company has a quick ratio of 0.85, a current ratio of 0.81 and a debt-to-equity ratio of 3.42.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. American Tower’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $2.46 earnings per share. As a group, equities research analysts predict that American Tower Co. will post 10.04 EPS for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors 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 annualized dividend and a yield of 2.87%. American Tower’s dividend payout ratio (DPR) 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.