American Tower Co. (NYSE:AMT) Shares Sold by Middleton & Co. Inc. MA

Middleton & Co. Inc. MA lowered its position in American Tower Co. (NYSE:AMT) by 1.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 60,030 shares of the real estate investment trust’s stock after selling 1,057 shares during the period. American Tower accounts for approximately 1.5% of Middleton & Co. Inc. MA’s portfolio, making the stock its 24th biggest holding. Middleton & Co. Inc. MA’s holdings in American Tower were worth $13,961,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cultivar Capital Inc. purchased a new stake in American Tower in the 2nd quarter valued at $25,000. Fairscale Capital LLC acquired a new stake in American Tower during the second quarter worth about $27,000. Hobbs Group Advisors LLC purchased a new position in American Tower during the second quarter worth about $29,000. Northwest Investment Counselors LLC acquired a new position in American Tower in the 3rd quarter valued at about $30,000. Finally, Family Firm Inc. purchased a new stake in shares of American Tower in the 2nd quarter valued at approximately $35,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the completion of the transaction, the executive vice president now 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Olivier Puech sold 10,005 shares of the business’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 completion of the sale, the executive vice president now owns 51,746 shares in the company, valued at $12,070,789.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of the 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 transaction, the chief executive officer now owns 61,843 shares in the company, valued at $14,223,890. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,723 shares of company stock worth $7,795,397 in the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of recent analyst reports. Barclays upped their price objective on American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. TD Cowen raised their price objective on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets upped their target price on shares of American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, September 13th. StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their price target on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $237.92.

American Tower Stock Performance

NYSE:AMT opened at $222.74 on Friday. The company has a market cap of $104.01 billion, a price-to-earnings ratio of 50.39, a price-to-earnings-growth ratio of 1.08 and a beta of 0.83. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower Co. has a 52 week low of $162.55 and a 52 week high of $243.56. The company has a fifty day simple moving average of $228.80 and a two-hundred day simple moving average of $207.56.

American Tower (NYSE:AMT) last issued its quarterly 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). The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. American Tower’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.46 EPS. As a group, equities analysts anticipate that American Tower Co. will post 10.12 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were paid a $1.62 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 2.91%. American Tower’s dividend payout ratio is currently 146.61%.

About American Tower

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.