American Tower Co. (NYSE:AMT) Shares Acquired by Occidental Asset Management LLC

Occidental Asset Management LLC boosted its stake in American Tower Co. (NYSE:AMT) by 5.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,977 shares of the real estate investment trust’s stock after buying an additional 784 shares during the period. Occidental Asset Management LLC’s holdings in American Tower were worth $3,250,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AMT. Meyer Handelman Co. bought a new position in American Tower in the 1st quarter worth about $801,000. Czech National Bank grew its holdings 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 worth $22,128,000 after buying an additional 6,163 shares in the last quarter. Kingsview Wealth Management LLC increased its position 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 during the period. Tidal Investments LLC grew its stake in shares of American Tower by 27.7% in the first quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock worth $4,029,000 after purchasing an additional 4,430 shares in the last quarter. Finally, Cetera Advisors LLC increased its holdings in shares of American Tower by 29.0% during the first quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock valued at $8,157,000 after purchasing an additional 9,275 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the firm’s 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 transaction, the chief accounting officer now directly owns 31,873 shares in the company, valued at $7,424,177.89. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 31,873 shares in the company, valued at $7,424,177.89. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,723 shares of company stock worth $7,795,397. Corporate insiders own 0.18% of the company’s stock.

American Tower Price Performance

Shares of NYSE:AMT opened at $221.89 on Tuesday. The business has a fifty day simple moving average of $228.48 and a 200 day simple moving average of $205.68. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower Co. has a 1 year low of $157.25 and a 1 year high of $243.56. The firm has a market cap of $103.62 billion, a price-to-earnings ratio of 50.20, a P/E/G ratio of 1.00 and a beta of 0.83.

American Tower (NYSE:AMT) last announced its quarterly earnings results 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). The firm had revenue of $2.90 billion for 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 firm’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 earnings per share. As a group, sell-side analysts predict that American Tower Co. will post 10.13 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Wednesday, October 9th. American Tower’s payout ratio is presently 146.61%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. BMO Capital Markets increased their target price on shares of American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, September 13th. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $245.00 to $230.00 in a report on Thursday, October 10th. JPMorgan Chase & Co. boosted their target price on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. StockNews.com raised American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group initiated coverage on American Tower in a report on Monday, July 1st. They set a “buy” rating and a $230.00 target price on the stock. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $235.21.

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.