Sunbelt Securities Inc. Sells 108 Shares of American Tower Co. (NYSE:AMT)

Sunbelt Securities Inc. reduced its stake in American Tower Co. (NYSE:AMT – Get Rating) by 6.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,573 shares of the real estate investment trust’s stock after selling 108 shares during the quarter. Sunbelt Securities Inc.’s holdings in American Tower were worth $338,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pasadena Private Wealth LLC lifted its stake in shares of American Tower by 6.2% in the third quarter. Pasadena Private Wealth LLC now owns 1,396 shares of the real estate investment trust’s stock worth $300,000 after acquiring an additional 81 shares during the period. Industrial Alliance Investment Management Inc. lifted its stake in shares of American Tower by 0.9% in the third quarter. Industrial Alliance Investment Management Inc. now owns 12,105 shares of the real estate investment trust’s stock worth $2,599,000 after acquiring an additional 110 shares during the period. National Pension Service lifted its stake in shares of American Tower by 2.3% in the third quarter. National Pension Service now owns 655,113 shares of the real estate investment trust’s stock worth $140,011,000 after acquiring an additional 14,588 shares during the period. Cape Cod Five Cents Savings Bank lifted its stake in shares of American Tower by 1.4% in the third quarter. Cape Cod Five Cents Savings Bank now owns 14,185 shares of the real estate investment trust’s stock worth $3,045,000 after acquiring an additional 200 shares during the period. Finally, Glenmede Trust Co. NA lifted its stake in shares of American Tower by 13.6% in the third quarter. Glenmede Trust Co. NA now owns 270,174 shares of the real estate investment trust’s stock worth $58,005,000 after acquiring an additional 32,419 shares during the period. 89.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AMT. UBS Group dropped their price target on American Tower from $278.00 to $270.00 in a research note on Tuesday, December 13th. The Goldman Sachs Group raised American Tower from a “neutral” rating to a “buy” rating and boosted their price target for the company from $215.00 to $245.00 in a research note on Tuesday, January 10th. Wells Fargo & Company boosted their price target on American Tower from $225.00 to $245.00 in a research note on Wednesday, December 14th. Morgan Stanley boosted their price target on American Tower from $219.00 to $224.00 and gave the company an “equal weight” rating in a research note on Monday, January 23rd. Finally, Barclays dropped their price target on American Tower from $247.00 to $246.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 8th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $260.31.

American Tower Trading Up 1.3 %

Shares of American Tower stock opened at $205.05 on Friday. The stock has a fifty day simple moving average of $212.61 and a 200 day simple moving average of $216.18. American Tower Co. has a 12-month low of $178.17 and a 12-month high of $282.47. The company has a market capitalization of $95.48 billion, a P/E ratio of 53.40, a price-to-earnings-growth ratio of 2.07 and a beta of 0.56. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 2.75.

American Tower (NYSE:AMT – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The real estate investment trust reported ($1.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.16 by ($3.63). The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.68 billion. American Tower had a net margin of 16.49% and a return on equity of 15.80%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.18 EPS. On average, sell-side analysts anticipate that American Tower Co. will post 9.24 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, April 14th will be paid a $1.56 dividend. The ex-dividend date is Thursday, April 13th. This represents a $6.24 dividend on an annualized basis and a yield of 3.04%. American Tower’s dividend payout ratio (DPR) is presently 162.50%.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 2,035 shares of the company’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $220.85, for a total value of $449,429.75. Following the completion of the transaction, the chief financial officer now owns 48,645 shares in the company, valued at approximately $10,743,248.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Rodney M. Smith sold 2,035 shares of the stock in a transaction on Monday, January 9th. The stock was sold at an average price of $220.85, for a total transaction of $449,429.75. Following the completion of the transaction, the chief financial officer now owns 48,645 shares in the company, valued at approximately $10,743,248.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Samme L. Thompson sold 1,739 shares of the stock in a transaction on Monday, February 6th. The stock was sold at an average price of $218.59, for a total value of $380,128.01. Following the transaction, the director now owns 22,099 shares of the company’s stock, valued at approximately $4,830,620.41. The disclosure for this sale can be found here. Insiders sold 8,587 shares of company stock worth $1,947,849 in the last quarter. 0.24% of the stock is currently owned by company insiders.

American Tower Company Profile

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American Tower Corp. provides real estate investment services, and owns, operates, and develops multi-tenant real estate properties. It offers leasing of space on communications sites to wireless service providers, radio and television broadcast companies. It operates through the following segments: U.S.