American Tower Co. (NYSE:AMT) Stake Reduced by Bernzott Capital Advisors

Bernzott Capital Advisors reduced its stake in American Tower Co. (NYSE:AMT) by 0.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,274 shares of the real estate investment trust’s stock after selling 85 shares during the period. American Tower makes up approximately 4.0% of Bernzott Capital Advisors’ portfolio, making the stock its 3rd biggest position. Bernzott Capital Advisors’ holdings in American Tower were worth $9,366,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of the stock. Cultivar Capital Inc. purchased a new stake in American Tower during the second quarter worth about $25,000. Fortitude Family Office LLC lifted its holdings in American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares in the last quarter. Fairscale Capital LLC acquired a new position in shares of American Tower in the second quarter worth $27,000. Hobbs Group Advisors LLC acquired a new stake in shares of American Tower in the second quarter valued at $29,000. Finally, Northwest Investment Counselors LLC purchased a new position in American Tower in the third quarter valued at $30,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In related 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 shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the transaction, the chief accounting officer now owns 31,873 shares of the company’s stock, valued at approximately $7,424,177.89. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing 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 transaction of $508,020.33. Following the completion of the transaction, the chief accounting officer now 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Olivier Puech sold 10,005 shares of the company’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 transaction of $2,333,866.35. Following the transaction, the executive vice president now directly owns 51,746 shares of the company’s stock, 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. In the last 90 days, insiders have sold 33,723 shares of company stock worth $7,795,397. 0.18% of the stock is owned by insiders.

American Tower Price Performance

Shares of NYSE AMT traded down $9.21 during midday trading on Tuesday, hitting $213.01. The company had a trading volume of 1,830,214 shares, compared to its average volume of 2,268,168. 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 business has a 50-day simple moving average of $228.85 and a two-hundred day simple moving average of $208.15. American Tower Co. has a twelve month low of $169.70 and a twelve month high of $243.56. The firm has a market capitalization of $99.49 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 released its quarterly earnings data 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 analysts’ expectations of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. American Tower’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.46 earnings per share. Equities research analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s payout ratio is currently 121.80%.

Analyst Ratings Changes

Several analysts recently weighed in on AMT shares. JPMorgan Chase & Co. raised their target price on shares of American Tower from $240.00 to $250.00 and gave the company 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 report on Wednesday, July 31st. Scotiabank upped their price target on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.