American Tower Co. (NYSE:AMT) Shares Sold by Schmidt P J Investment Management Inc.

Schmidt P J Investment Management Inc. decreased its holdings in shares of American Tower Co. (NYSE:AMT) by 3.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 14,777 shares of the real estate investment trust’s stock after selling 488 shares during the period. Schmidt P J Investment Management Inc.’s holdings in American Tower were worth $3,436,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cultivar Capital Inc. bought a new position in shares of American Tower in the second quarter valued at $25,000. Fairscale Capital LLC acquired a new stake in shares of American Tower during the second quarter worth $27,000. Hobbs Group Advisors LLC purchased a new stake in shares of American Tower during the second quarter valued at $29,000. Northwest Investment Counselors LLC acquired a new position in shares of American Tower in the 3rd quarter valued at $30,000. Finally, Family Firm Inc. purchased a new position in American Tower in the 2nd quarter worth about $35,000. 92.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, 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 completion of the sale, the executive vice president now directly owns 51,746 shares in the company, valued at approximately $12,070,789.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the sale, the chief executive officer now owns 61,843 shares in the company, valued at $14,223,890. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the sale, the executive vice president now directly owns 51,746 shares in the company, valued at $12,070,789.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,723 shares of company stock valued at $7,795,397 over the last quarter. Insiders own 0.18% of the company’s stock.

American Tower Trading Down 0.2 %

Shares of NYSE AMT opened at $225.88 on Friday. The business has a 50 day simple moving average of $228.58 and a 200 day simple moving average of $207.19. American Tower Co. has a 52 week low of $160.49 and a 52 week high of $243.56. The stock has a market cap of $105.50 billion, a price-to-earnings ratio of 42.46, a PEG ratio of 1.08 and a beta of 0.83. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81.

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 business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.46 earnings per share. On average, research analysts predict that American Tower Co. will post 10.12 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 2.87%. American Tower’s dividend payout ratio (DPR) is currently 121.80%.

Analyst Upgrades and Downgrades

Several brokerages have commented on AMT. Barclays raised their target price on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Scotiabank raised their price objective on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 31st. Mizuho increased their target price on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. lifted their price target on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Finally, Royal Bank of Canada upped their price target on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average target price of $237.92.

American Tower Company 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.