XTX Topco Ltd Lowers Stake in American Tower Co. (NYSE:AMT)

XTX Topco Ltd decreased its position in American Tower Co. (NYSE:AMT) by 18.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,844 shares of the real estate investment trust’s stock after selling 1,745 shares during the quarter. XTX Topco Ltd’s holdings in American Tower were worth $1,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in AMT. Northwest Investment Counselors LLC bought a new stake in shares of American Tower in the 1st quarter valued at about $25,000. Gold Investment Management Ltd. bought a new stake in American Tower in the fourth quarter valued at $28,000. Cultivar Capital Inc. bought a new stake in shares of American Tower during the 2nd quarter valued at about $25,000. Hobbs Group Advisors LLC purchased a new position in shares of American Tower during the 2nd quarter worth approximately $29,000. Finally, SOA Wealth Advisors LLC. bought a new position in American Tower in the first quarter worth $30,000. 92.69% of the stock is currently owned by institutional investors.

Insider Activity at American Tower

In other American Tower news, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $12,070,789.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Olivier Puech sold 10,005 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 51,746 shares in the company, valued at $12,070,789.42. 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.

Analyst Ratings Changes

AMT has been the topic of a number of analyst reports. BMO Capital Markets boosted their price target on American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, September 13th. Royal Bank of Canada lifted their price target on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Barclays reduced their price objective on American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Mizuho lifted their price target on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. lifted their price objective on American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $233.29.

American Tower Trading Down 1.5 %

Shares of AMT stock opened at $232.31 on Friday. The stock has a market capitalization of $108.48 billion, a price-to-earnings ratio of 52.56, a price-to-earnings-growth ratio of 1.60 and a beta of 0.83. The stock’s 50-day moving average price is $224.08 and its 200-day moving average price is $202.24. 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 $154.58 and a 12-month high of $243.56.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the business earned $2.46 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts predict that American Tower Co. will post 10.13 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s payout ratio is 146.61%.

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.