128 Shares in American Tower Co. (NYSE:AMT) Bought by Northwest Investment Counselors LLC

Northwest Investment Counselors LLC purchased a new position in shares of American Tower Co. (NYSE:AMT) in the third quarter, Holdings Channel.com reports. The firm purchased 128 shares of the real estate investment trust’s stock, valued at approximately $30,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fairscale Capital LLC purchased a new stake in shares of American Tower during the 2nd quarter worth approximately $27,000. Cultivar Capital Inc. acquired a new position in American Tower in the second quarter valued at $25,000. Hobbs Group Advisors LLC acquired a new position in American Tower in the second quarter valued at $29,000. Family Firm Inc. purchased a new position in shares of American Tower during the second quarter worth about $35,000. Finally, Institutional & Family Asset Management LLC increased its position in shares of American Tower by 110.6% during the second quarter. Institutional & Family Asset Management LLC now owns 198 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 104 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 61,843 shares of the company’s stock, valued at $14,223,890. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the completion of the sale, the chief executive officer now owns 61,843 shares of the company’s stock, valued at $14,223,890. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Olivier Puech sold 10,005 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the transaction, the executive vice president now 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 ninety days. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AMT shares. TD Cowen upped their target price on American Tower from $226.00 to $239.00 and gave the company a “buy” 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 report on Wednesday, August 14th. StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price objective 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. Finally, Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. Three 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.92.

American Tower Stock Performance

Shares of AMT stock opened at $221.52 on Wednesday. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $103.44 billion, a PE ratio of 50.12, a P/E/G ratio of 1.03 and a beta of 0.83. American Tower Co. has a 1 year low of $157.25 and a 1 year high of $243.56. The stock has a fifty day moving average price of $228.52 and a 200 day moving average price of $207.05.

American Tower (NYSE:AMT) last released 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). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the prior year, the firm earned $2.46 earnings per share. American Tower’s quarterly revenue was up 4.7% on a year-over-year basis. Sell-side analysts forecast 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 will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s payout ratio is 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.