Bogart Wealth LLC Has $6.98 Million Stock Position in American Tower Co. (NYSE:AMT)

Bogart Wealth LLC lifted its position in shares of American Tower Co. (NYSE:AMT) by 249,900.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,000 shares of the real estate investment trust’s stock after purchasing an additional 29,988 shares during the quarter. Bogart Wealth LLC’s holdings in American Tower were worth $6,977,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of AMT. Sound Income Strategies LLC grew its stake in shares of American Tower by 15.0% in the 1st quarter. Sound Income Strategies LLC now owns 882 shares of the real estate investment trust’s stock valued at $174,000 after purchasing an additional 115 shares during the period. Brookstone Capital Management grew its position in American Tower by 1.6% in the first quarter. Brookstone Capital Management now owns 6,108 shares of the real estate investment trust’s stock valued at $1,207,000 after acquiring an additional 96 shares during the period. Key Client Fiduciary Advisors LLC raised its stake in American Tower by 10.8% during the first quarter. Key Client Fiduciary Advisors LLC now owns 1,179 shares of the real estate investment trust’s stock worth $233,000 after acquiring an additional 115 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in shares of American Tower by 6.5% during the first quarter. Wealthcare Advisory Partners LLC now owns 3,451 shares of the real estate investment trust’s stock valued at $682,000 after acquiring an additional 210 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of American Tower by 11.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 249,155 shares of the real estate investment trust’s stock valued at $49,231,000 after purchasing an additional 25,177 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMT has been the subject of a number of recent analyst reports. Scotiabank increased their target price on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lifted their target price 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. 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. BMO Capital Markets lifted their price objective on American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, September 13th. Finally, JPMorgan Chase & Co. increased their target price on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Three investment 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.92.

Insider Transactions at American Tower

In related news, EVP Olivier Puech sold 10,005 shares of the 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 sale, the executive vice president now directly owns 51,746 shares in the company, valued at $12,070,789.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other American Tower news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction dated 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 in the company, valued at approximately $12,070,789.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the completion of the sale, the chief accounting officer now 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 ninety days, insiders sold 33,723 shares of company stock worth $7,795,397. 0.18% of the stock is currently owned by company insiders.

American Tower Trading Up 0.3 %

Shares of NYSE:AMT traded up $0.59 during trading on Thursday, hitting $226.86. 483,862 shares of the company’s stock were exchanged, compared to its average volume of 2,267,444. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. The firm has a market cap of $105.96 billion, a P/E ratio of 42.53, a PEG ratio of 1.08 and a beta of 0.83. The firm has a 50-day moving average price of $228.58 and a two-hundred day moving average price of $207.19. American Tower Co. has a 1-year low of $160.49 and a 1-year high of $243.56.

American Tower (NYSE:AMT) last issued its earnings results 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). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the previous year, the firm posted $2.46 EPS. The business’s revenue was up 4.7% on a year-over-year basis. Equities analysts predict that American Tower Co. will post 10.12 earnings per share for the current year.

American Tower Announces Dividend

The business 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 (DPR) is currently 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.