American Tower Co. (NYSE:AMT) Shares Sold by MCF Advisors LLC

MCF Advisors LLC lessened its holdings in shares of American Tower Co. (NYSE:AMT) by 35.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 295 shares of the real estate investment trust’s stock after selling 160 shares during the quarter. MCF Advisors LLC’s holdings in American Tower were worth $58,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Northwest Investment Counselors LLC purchased a new stake in American Tower during the 1st quarter worth $25,000. Gold Investment Management Ltd. purchased a new stake in shares of American Tower in the fourth quarter worth about $28,000. Thompson Investment Management Inc. acquired a new stake in shares of American Tower in the fourth quarter valued at about $29,000. Private Wealth Management Group LLC purchased a new stake in shares of American Tower during the 4th quarter valued at about $31,000. Finally, SOA Wealth Advisors LLC. acquired a new position in American Tower during the 1st quarter worth approximately $30,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at American Tower

In other American Tower news, Director Robert D. Hormats sold 700 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total value of $128,450.00. Following the sale, the director now owns 7,332 shares in the company, valued at $1,345,422. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Sanjay Goel sold 3,504 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total value of $702,061.44. Following the completion of the transaction, the executive vice president now owns 28,413 shares in the company, valued at approximately $5,692,828.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert D. Hormats sold 700 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the sale, the director now owns 7,332 shares in the company, valued at $1,345,422. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

AMT has been the subject of several recent research reports. BMO Capital Markets dropped their price objective on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Barclays cut their price objective on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Scotiabank lowered their target price on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research note on Wednesday, May 1st. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $226.00 to $248.00 in a research note on Wednesday, May 1st. Finally, Mizuho assumed coverage on American Tower in a research note on Monday, April 8th. They set a “neutral” rating and a $205.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $220.91.

American Tower Price Performance

Shares of NYSE AMT opened at $194.38 on Friday. The company has a market capitalization of $90.77 billion, a price-to-earnings ratio of 43.98, a price-to-earnings-growth ratio of 1.39 and a beta of 0.79. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10. The business has a 50 day simple moving average of $188.22 and a 200-day simple moving average of $195.07. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.39.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same period last year, the business posted $2.54 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, equities research analysts expect that American Tower Co. will post 10.03 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.33%. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

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.