Ballentine Partners LLC Acquires 747 Shares of American Tower Co. (NYSE:AMT)

Ballentine Partners LLC raised its holdings in shares of American Tower Co. (NYSE:AMT) by 8.1% in the third quarter, Holdings Channel.com reports. The firm owned 10,026 shares of the real estate investment trust’s stock after purchasing an additional 747 shares during the period. Ballentine Partners LLC’s holdings in American Tower were worth $2,332,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cross Staff Investments Inc increased its stake in shares of American Tower by 1.1% during the third quarter. Cross Staff Investments Inc now owns 5,707 shares of the real estate investment trust’s stock valued at $1,327,000 after purchasing an additional 64 shares in the last quarter. Investment Research & Advisory Group Inc. bought a new position in shares of American Tower during the third quarter valued at approximately $230,000. DT Investment Partners LLC grew its holdings in shares of American Tower by 5.4% during the third quarter. DT Investment Partners LLC now owns 1,794 shares of the real estate investment trust’s stock valued at $417,000 after buying an additional 92 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of American Tower by 15.3% during the third quarter. Assenagon Asset Management S.A. now owns 16,857 shares of the real estate investment trust’s stock valued at $3,920,000 after buying an additional 2,233 shares during the last quarter. Finally, Bogart Wealth LLC grew its holdings in shares of American Tower by 249,900.0% during the third quarter. Bogart Wealth LLC now owns 30,000 shares of the real estate investment trust’s stock valued at $6,977,000 after buying an additional 29,988 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other American Tower news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction 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 approximately $12,070,789.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 legal filing with the SEC, which is accessible through this link. Also, EVP Olivier Puech sold 10,005 shares of the business’s 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 completion of the sale, the executive vice president now owns 51,746 shares in the company, valued at approximately $12,070,789.42. 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 have sold 33,723 shares of company stock worth $7,795,397. Insiders own 0.18% of the company’s stock.

American Tower Stock Down 1.4 %

Shares of AMT stock opened at $222.74 on Friday. The company has a market capitalization of $104.01 billion, a price-to-earnings ratio of 50.39, a PEG ratio of 1.08 and a beta of 0.83. American Tower Co. has a one year low of $162.55 and a one year high of $243.56. The company’s fifty day moving average price is $228.74 and its 200-day moving average price is $207.32. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81.

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

American Tower Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on AMT. Royal Bank of Canada increased their price target on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Barclays increased their price target on shares of American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. TD Cowen increased their price target on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $237.92.

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.