American Tower Co. (NYSE:AMT) Shares Sold by McClarren Financial Advisors Inc.

McClarren Financial Advisors Inc. cut its stake in American Tower Co. (NYSE:AMT) by 56.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 169 shares of the real estate investment trust’s stock after selling 219 shares during the period. McClarren Financial Advisors Inc.’s holdings in American Tower were worth $39,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Northwest Investment Counselors LLC acquired a new position in American Tower during the 1st quarter valued at about $25,000. Fairscale Capital LLC acquired a new position in shares of American Tower during the second quarter worth approximately $27,000. Cultivar Capital Inc. bought a new position in American Tower in the 2nd quarter worth approximately $25,000. Hobbs Group Advisors LLC acquired a new stake in American Tower in the 2nd quarter valued at approximately $29,000. Finally, Family Firm Inc. bought a new stake in American Tower during the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT opened at $226.30 on Monday. American Tower Co. has a one year low of $157.25 and a one year high of $243.56. The company has a 50-day moving average of $228.62 and a two-hundred day moving average of $206.61. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market cap of $105.70 billion, a price-to-earnings ratio of 42.54, a PEG ratio of 1.03 and a beta of 0.83.

American Tower (NYSE:AMT) last posted 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). The firm had revenue of $2.90 billion during 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%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.46 EPS. On average, equities research analysts expect that American Tower Co. will post 10.12 earnings per share 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 paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 2.86%. The ex-dividend date is Wednesday, October 9th. American Tower’s dividend payout ratio is currently 121.80%.

Analysts Set New Price Targets

A number of brokerages have recently commented on AMT. Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $245.00 to $230.00 in a report on Thursday, October 10th. Royal Bank of Canada raised their target price on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. increased their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. StockNews.com raised American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Finally, Scotiabank increased their price target on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $237.92.

Insider Buying and Selling at American Tower

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

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.