Consolidated Portfolio Review Corp Sells 263 Shares of American Tower Co. (NYSE:AMT)

Consolidated Portfolio Review Corp trimmed its holdings in American Tower Co. (NYSE:AMT) by 5.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,612 shares of the real estate investment trust’s stock after selling 263 shares during the period. Consolidated Portfolio Review Corp’s holdings in American Tower were worth $1,073,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fairscale Capital LLC acquired a new stake in shares of American Tower in the 2nd quarter valued at $27,000. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower during the third quarter worth approximately $30,000. Cultivar Capital Inc. acquired a new position in shares of American Tower in the 2nd quarter worth approximately $25,000. Hobbs Group Advisors LLC bought a new position in American Tower in the 2nd quarter valued at $29,000. Finally, Family Firm Inc. bought a new position in shares of American Tower in the second quarter valued at about $35,000. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In related news, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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. 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 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 ownership of the stock. 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 90 days. 0.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AMT shares. Royal Bank of Canada upped their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Barclays boosted their price objective on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. BMO Capital Markets lifted their target price on American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, September 13th. 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. Finally, Scotiabank upped their target price on shares of American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research report on Wednesday, July 31st. 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $237.92.

American Tower Trading Down 1.4 %

AMT stock traded down $3.13 during midday trading on Friday, hitting $222.80. 2,054,209 shares of the company’s stock were exchanged, compared to its average volume of 2,271,894. American Tower Co. has a one year low of $162.55 and a one year high of $243.56. The stock’s fifty day moving average price is $228.80 and its 200-day moving average price is $207.56. The company has a market cap of $104.04 billion, a PE ratio of 50.39, a price-to-earnings-growth ratio of 1.08 and a beta of 0.83. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the company posted $2.46 earnings per share. Research analysts predict that American Tower Co. will post 10.12 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

American Tower 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.