Heartwood Wealth Advisors LLC Sells 200 Shares of American Tower Co. (NYSE:AMT)

Heartwood Wealth Advisors LLC cut its stake in shares of American Tower Co. (NYSE:AMT) by 9.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,935 shares of the real estate investment trust’s stock after selling 200 shares during the quarter. Heartwood Wealth Advisors LLC’s holdings in American Tower were worth $450,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Salvus Wealth Management LLC lifted its holdings in shares of American Tower by 1.5% during the third quarter. Salvus Wealth Management LLC now owns 8,463 shares of the real estate investment trust’s stock valued at $1,968,000 after acquiring an additional 125 shares during the period. Chemistry Wealth Management LLC bought a new position in shares of American Tower in the third quarter valued at about $207,000. Everpar Advisors LLC raised its holdings in shares of American Tower by 11.8% in the third quarter. Everpar Advisors LLC now owns 2,047 shares of the real estate investment trust’s stock valued at $476,000 after buying an additional 216 shares during the last quarter. Diversified Trust Co raised its holdings in shares of American Tower by 66.8% in the third quarter. Diversified Trust Co now owns 4,750 shares of the real estate investment trust’s stock valued at $1,105,000 after buying an additional 1,902 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of American Tower by 34.4% in the third quarter. GAMMA Investing LLC now owns 6,871 shares of the real estate investment trust’s stock valued at $1,598,000 after buying an additional 1,757 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Insider Activity at American Tower

In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the completion of the transaction, the chief accounting officer now directly owns 31,873 shares in the company, valued at approximately $7,424,177.89. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other American Tower news, EVP Olivier Puech sold 10,005 shares of the company’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 transaction, the executive vice president now owns 51,746 shares of the company’s stock, valued at $12,070,789.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the transaction, the chief accounting officer now directly owns 31,873 shares of the company’s stock, valued at approximately $7,424,177.89. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 33,723 shares of company stock worth $7,795,397. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AMT shares. Mizuho lifted their price target on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. BMO Capital Markets lifted their price target on American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, September 13th. Deutsche Bank Aktiengesellschaft lifted their price target on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. TD Cowen lifted their price target on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Scotiabank boosted their price objective on American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $234.00.

American Tower Price Performance

American Tower stock opened at $223.36 on Tuesday. The firm has a market capitalization of $104.30 billion, a P/E ratio of 50.53, a PEG ratio of 1.06 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 business has a 50-day moving average of $228.88 and a 200-day moving average of $204.58. 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 (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 the consensus estimate of $2.44 by ($0.52). The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. American Tower’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.46 earnings per share. On average, equities analysts anticipate that American Tower Co. will post 10.13 EPS for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be given a $1.62 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 2.90%. American Tower’s dividend payout ratio is presently 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.