Quad Cities Investment Group LLC Has $350,000 Stock Position in American Tower Co. (NYSE:AMT)

Quad Cities Investment Group LLC lowered its position in shares of American Tower Co. (NYSE:AMT) by 7.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,505 shares of the real estate investment trust’s stock after selling 116 shares during the quarter. Quad Cities Investment Group LLC’s holdings in American Tower were worth $350,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new position in shares of American Tower during the first quarter valued at $25,000. Cultivar Capital Inc. acquired a new position in American Tower during the 2nd quarter worth $25,000. Fairscale Capital LLC bought a new position in shares of American Tower in the second quarter worth about $27,000. Hobbs Group Advisors LLC acquired a new position in shares of American Tower during the 2nd quarter worth about $29,000. Finally, SOA Wealth Advisors LLC. acquired a new position in shares of American Tower during the first quarter worth approximately $30,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Down 1.2 %

NYSE:AMT traded down $2.72 on Thursday, hitting $224.80. 499,239 shares of the company’s stock were exchanged, compared to its average volume of 2,276,828. 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 firm has a 50-day moving average price of $228.54 and a 200-day moving average price of $206.06. The company has a market cap of $105.00 billion, a P/E ratio of 42.78, a price-to-earnings-growth ratio of 1.01 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.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) 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 return on equity of 23.06% and a net margin of 21.95%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.46 EPS. As a group, analysts expect that American Tower Co. will post 10.13 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be paid 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 dividend yield of 2.88%. American Tower’s dividend payout ratio is presently 121.80%.

Insider Activity

In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’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 value of $508,020.33. Following the completion of the transaction, the chief accounting officer now directly owns 31,873 shares in the company, valued at approximately $7,424,177.89. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $232.93, for a total value 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 approximately $7,424,177.89. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of the company’s 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 transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at $14,223,890. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,723 shares of company stock valued at $7,795,397. 0.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Barclays upped their price target on American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Royal Bank of Canada lifted their target price on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price target on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Mizuho raised their target price on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Finally, TD Cowen increased their price objective on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average target price 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.