Foresight Group Ltd Liability Partnership Sells 29,680 Shares of American Tower Co. (NYSE:AMT)

Foresight Group Ltd Liability Partnership cut its holdings in shares of American Tower Co. (NYSE:AMT) by 16.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 149,222 shares of the real estate investment trust’s stock after selling 29,680 shares during the period. American Tower accounts for approximately 14.5% of Foresight Group Ltd Liability Partnership’s investment portfolio, making the stock its biggest holding. Foresight Group Ltd Liability Partnership’s holdings in American Tower were worth $34,703,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AMT. Northwest Investment Counselors LLC acquired a new position in shares of American Tower in the 1st quarter valued at $25,000. Annex Advisory Services LLC acquired a new position in shares of American Tower in the 1st quarter valued at $234,000. Riverview Trust Co acquired a new position in shares of American Tower in the 1st quarter valued at $58,000. Dynamic Advisor Solutions LLC grew its position in American Tower by 4.9% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 14,890 shares of the real estate investment trust’s stock worth $2,942,000 after purchasing an additional 701 shares during the period. Finally, Sound Income Strategies LLC grew its position in American Tower by 15.0% during the 1st quarter. Sound Income Strategies LLC now owns 882 shares of the real estate investment trust’s stock worth $174,000 after purchasing an additional 115 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other American Tower news, EVP Olivier Puech sold 10,005 shares of the firm’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 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Steven O. Vondran sold 21,537 shares of the firm’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 transaction of $4,953,510.00. Following the completion of the sale, the chief executive officer now owns 61,843 shares in the company, valued at $14,223,890. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Olivier Puech sold 10,005 shares of the firm’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 sale, the executive vice president now owns 51,746 shares of the company’s stock, valued at $12,070,789.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,723 shares of company stock valued at $7,795,397 in the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

American Tower Trading Up 0.0 %

Shares of American Tower stock opened at $221.52 on Wednesday. The firm has a market capitalization of $103.44 billion, a PE ratio of 50.12, a P/E/G ratio of 1.03 and a beta of 0.83. American Tower Co. has a twelve month low of $157.25 and a twelve month high of $243.56. The firm’s 50-day moving average price is $228.52 and its 200 day moving average price is $207.05. 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 (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 analysts’ consensus estimates of $2.44 by ($0.52). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period last year, the business earned $2.46 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, sell-side analysts predict that American Tower Co. will post 10.12 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is 146.61%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Scotiabank increased 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. TD Cowen increased their price target on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Mizuho increased their price target on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Wells Fargo & Company downgraded American Tower from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Finally, BMO Capital Markets increased their target price on shares of American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $237.92.

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.