DT Investment Partners LLC Buys 92 Shares of American Tower Co. (NYSE:AMT)

DT Investment Partners LLC increased its stake in American Tower Co. (NYSE:AMT) by 5.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,794 shares of the real estate investment trust’s stock after purchasing an additional 92 shares during the period. DT Investment Partners LLC’s holdings in American Tower were worth $417,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Brookstone Capital Management increased 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 worth $1,207,000 after purchasing an additional 96 shares during the period. Wealthcare Advisory Partners LLC grew its position in shares of American Tower by 6.5% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,451 shares of the real estate investment trust’s stock worth $682,000 after buying an additional 210 shares during the period. Cypress Wealth Services LLC bought a new stake in shares of American Tower during the first quarter worth approximately $339,000. Register Financial Advisors LLC bought a new position in American Tower in the first quarter valued at approximately $74,000. Finally, Capital Insight Partners LLC grew its holdings in American Tower by 31.1% during the 1st quarter. Capital Insight Partners LLC now owns 2,937 shares of the real estate investment trust’s stock worth $580,000 after acquiring an additional 696 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling

In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction 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 sale, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the stock in a transaction that occurred on 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 approximately $7,424,177.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 61,843 shares in the company, valued at approximately $14,223,890. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,723 shares of company stock worth $7,795,397. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AMT has been the topic of a number of analyst reports. Scotiabank increased their price target on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised their target price on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Mizuho upped their price target on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Barclays lifted their price objective on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada upped 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. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average target price of $237.92.

American Tower Trading Down 0.2 %

AMT opened at $225.88 on Friday. The firm’s fifty day simple moving average is $228.58 and its 200 day simple moving average is $207.19. The stock has a market capitalization of $105.50 billion, a P/E ratio of 42.46, a P/E/G ratio of 1.08 and a beta of 0.83. 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 12 month low of $160.49 and a 12 month high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings data 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 firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period in the prior year, the company earned $2.46 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, research analysts anticipate that American Tower Co. will post 10.12 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Wednesday, October 9th. American Tower’s dividend payout ratio is presently 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.