American Tower Co. (NYSE:AMT) Shares Sold by Peak Financial Advisors LLC

Peak Financial Advisors LLC trimmed its holdings in American Tower Co. (NYSE:AMT) by 4.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,318 shares of the real estate investment trust’s stock after selling 100 shares during the quarter. Peak Financial Advisors LLC’s holdings in American Tower were worth $539,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Meyer Handelman Co. acquired a new stake in American Tower during the 1st quarter worth approximately $801,000. Czech National Bank grew its position in American Tower by 6.9% in the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after buying an additional 6,163 shares during the last quarter. Kingsview Wealth Management LLC increased its stake 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 buying an additional 4,660 shares during the period. Tidal Investments LLC raised its position in American Tower by 27.7% during the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock worth $4,029,000 after buying an additional 4,430 shares during the last quarter. Finally, Cetera Advisors LLC lifted its stake in shares of American Tower by 29.0% in the 1st quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock worth $8,157,000 after acquiring an additional 9,275 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Royal Bank of Canada increased their target price on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. The Goldman Sachs Group started coverage on American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 price target on the stock. StockNews.com upgraded American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $235.21.

American Tower Stock Performance

American Tower stock opened at $219.27 on Friday. 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 Co. has a fifty-two week low of $157.25 and a fifty-two week high of $243.56. The stock has a fifty day moving average of $228.56 and a two-hundred day moving average of $205.38. The company has a market capitalization of $102.42 billion, a price-to-earnings ratio of 41.22, a PEG ratio of 1.01 and a beta of 0.83.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing the consensus estimate 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 net margin of 21.95% and a return on equity of 23.06%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.46 EPS. On average, analysts anticipate that American Tower Co. will post 10.13 EPS for the current fiscal year.

American Tower Dividend Announcement

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

Insider Buying and Selling at American Tower

In other news, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly 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 is available through this hyperlink. In related news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the transaction, the chief executive officer now owns 61,843 shares in the company, valued at approximately $14,223,890. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the sale, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at approximately $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. Over the last 90 days, insiders sold 33,723 shares of company stock valued at $7,795,397. Company insiders own 0.18% of the company’s stock.

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.