American Tower Co. (NYSE:AMT) Shares Sold by Boston Financial Mangement LLC

Boston Financial Mangement LLC lessened its position in shares of American Tower Co. (NYSE:AMT) by 1.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 145,614 shares of the real estate investment trust’s stock after selling 1,865 shares during the quarter. Boston Financial Mangement LLC’s holdings in American Tower were worth $33,864,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AMT. Miracle Mile Advisors LLC lifted its holdings in shares of American Tower by 20.4% in the first quarter. Miracle Mile Advisors LLC now owns 3,909 shares of the real estate investment trust’s stock valued at $772,000 after purchasing an additional 661 shares in the last quarter. Claro Advisors LLC grew its holdings in American Tower by 16.5% during the 1st quarter. Claro Advisors LLC now owns 1,241 shares of the real estate investment trust’s stock valued at $245,000 after buying an additional 176 shares during the last quarter. Oak Thistle LLC purchased a new position in American Tower during the first quarter worth $303,000. Allspring Global Investments Holdings LLC increased its position in American Tower by 16.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 302,116 shares of the real estate investment trust’s stock worth $59,695,000 after buying an additional 42,797 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. raised its holdings in shares of American Tower by 2.9% in the first quarter. Farmers & Merchants Investments Inc. now owns 2,291 shares of the real estate investment trust’s stock worth $453,000 after acquiring an additional 65 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other American Tower 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 transaction, the chief accounting officer now directly owns 31,873 shares of the company’s stock, valued at $7,424,177.89. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s 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 sale, the chief accounting officer now owns 31,873 shares in the company, valued at approximately $7,424,177.89. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 51,746 shares of the company’s stock, valued at $12,070,789.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,723 shares of company stock worth $7,795,397 in the last 90 days. 0.18% of the stock is owned by corporate insiders.

American Tower Stock Down 0.3 %

Shares of NYSE:AMT opened at $222.23 on Tuesday. The company has a 50 day moving average of $228.85 and a two-hundred day moving average of $208.15. American Tower Co. has a 52-week low of $169.70 and a 52-week high of $243.56. 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 company has a market capitalization of $103.80 billion, a price-to-earnings ratio of 41.77, a price-to-earnings-growth ratio of 1.09 and a beta of 0.83.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The firm had revenue of $2.90 billion during 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 business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.46 EPS. As a group, analysts forecast that American Tower Co. will post 10.08 earnings per share for the current fiscal 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 issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio is currently 121.80%.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of recent research reports. Scotiabank lifted their price objective on American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, July 31st. Royal Bank of Canada lifted their price target on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Barclays lifted their target price on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $237.92.

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.