American Tower Co. (NYSE:AMT) Shares Sold by Border to Coast Pensions Partnership Ltd

Border to Coast Pensions Partnership Ltd cut its stake in shares of American Tower Co. (NYSE:AMT) by 12.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 321,795 shares of the real estate investment trust’s stock after selling 44,804 shares during the quarter. American Tower accounts for 1.5% of Border to Coast Pensions Partnership Ltd’s portfolio, making the stock its 15th largest holding. Border to Coast Pensions Partnership Ltd’s holdings in American Tower were worth $74,618,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. NBT Bank N A NY increased its stake in American Tower by 3.3% in the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock valued at $329,000 after acquiring an additional 54 shares during the last quarter. CX Institutional grew its stake in shares of American Tower by 2.9% during the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after buying an additional 54 shares during the last quarter. O Brien Greene & Co. Inc grew its stake in shares of American Tower by 2.3% in the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock worth $481,000 after purchasing an additional 55 shares during the last quarter. CFO4Life Group LLC grew its stake in shares of American Tower by 5.4% in the first quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock worth $221,000 after purchasing an additional 57 shares during the last quarter. Finally, Tyche Wealth Partners LLC lifted its holdings in American Tower by 4.9% in the second quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock valued at $242,000 after buying an additional 58 shares during the period. 92.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada upped their price objective on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. 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. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Three research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $237.92.

Insiders Place Their Bets

In other news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other American Tower news, EVP Olivier Puech sold 10,005 shares of the company’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 transaction, the executive vice president now directly owns 51,746 shares in the company, valued at $12,070,789.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Steven O. Vondran sold 21,537 shares of the company’s 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 transaction, the chief executive officer now owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,723 shares of company stock valued at $7,795,397. Insiders own 0.18% of the company’s stock.

American Tower Trading Down 2.4 %

American Tower stock traded down $5.49 during trading hours on Monday, reaching $220.81. The stock had a trading volume of 557,507 shares, compared to its average volume of 2,271,858. The stock has a market cap of $103.14 billion, a PE ratio of 42.54, a PEG ratio of 1.03 and a beta of 0.83. American Tower Co. has a 52 week low of $157.25 and a 52 week high of $243.56. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. The company has a fifty day simple moving average of $228.62 and a 200-day simple moving average of $206.61.

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 analysts’ consensus estimates of $2.44 by ($0.52). The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm posted $2.46 EPS. Analysts forecast that American Tower Co. will post 10.12 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. Shareholders of record on Wednesday, October 9th will be issued a $1.62 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 2.93%. American Tower’s dividend payout ratio (DPR) is presently 121.80%.

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.