Stratos Investment Management LLC Makes New $275,000 Investment in American Tower Co. (NYSE:AMT)

Stratos Investment Management LLC acquired a new stake in shares of American Tower Co. (NYSE:AMT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,183 shares of the real estate investment trust’s stock, valued at approximately $275,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new position in shares of American Tower in the 1st quarter worth about $25,000. Cultivar Capital Inc. purchased a new position in American Tower in the second quarter valued at approximately $25,000. Fairscale Capital LLC purchased a new position in American Tower in the second quarter valued at approximately $27,000. Hobbs Group Advisors LLC acquired a new position in American Tower during the second quarter valued at approximately $29,000. Finally, Family Firm Inc. purchased a new stake in American Tower during the second quarter worth approximately $35,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on AMT. Royal Bank of Canada raised 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. BMO Capital Markets boosted their price objective on American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. Barclays increased their target price on American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Scotiabank boosted their price target on American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, July 31st. Finally, TD Cowen upped their price target on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $237.92.

Insider Transactions at American Tower

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

American Tower Stock Up 1.0 %

AMT stock opened at $226.30 on Friday. The company has a market capitalization of $105.68 billion, a P/E ratio of 51.20, a PEG ratio of 1.01 and a beta of 0.83. The firm has a 50 day simple moving average of $228.62 and a 200-day simple moving average of $206.51. 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 twelve month low of $157.25 and a twelve month high of $243.56.

American Tower (NYSE:AMT) last released 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). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the previous year, the firm posted $2.46 EPS. American Tower’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts predict that American Tower Co. will post 10.13 earnings per share for the current fiscal year.

American Tower Announces Dividend

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 dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s dividend payout ratio is presently 146.61%.

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.