American Tower Co. (NYSE:AMT) Shares Sold by SYSTM Wealth Solutions LLC

SYSTM Wealth Solutions LLC reduced its stake in American Tower Co. (NYSE:AMT) by 72.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,824 shares of the real estate investment trust’s stock after selling 7,587 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in American Tower were worth $552,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Meyer Handelman Co. acquired a new position in American Tower during the first quarter worth $801,000. TD Asset Management Inc boosted its holdings in American Tower by 23.2% during the 4th quarter. TD Asset Management Inc now owns 275,428 shares of the real estate investment trust’s stock valued at $59,459,000 after acquiring an additional 51,882 shares during the period. Kingsview Wealth Management LLC grew its position in American Tower by 13.8% in the 1st quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock valued at $7,613,000 after acquiring an additional 4,660 shares in the last quarter. Tidal Investments LLC increased its stake in American Tower by 27.7% during the first quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock worth $4,029,000 after purchasing an additional 4,430 shares during the period. Finally, Cetera Advisors LLC lifted its position in shares of American Tower by 29.0% during the first quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock worth $8,157,000 after purchasing an additional 9,275 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AMT. TD Cowen lifted their price objective on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com raised American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Mizuho lifted their target price on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Royal Bank of Canada lifted their price objective on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Finally, Barclays cut their target price on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and an average price target of $233.29.

American Tower Price Performance

Shares of NYSE:AMT opened at $235.95 on Thursday. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $243.56. The firm has a market capitalization of $110.18 billion, a P/E ratio of 53.38, a P/E/G ratio of 1.60 and a beta of 0.83. 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 company’s fifty day moving average price is $223.58 and its 200 day moving average price is $202.03.

American Tower (NYSE:AMT) last posted its earnings results 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 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%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.46 EPS. As a group, sell-side analysts predict that American Tower Co. will post 10.13 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be given a dividend of $1.62 per share. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.75%. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

Insider Activity

In related news, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer now 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 the SEC website. In other American Tower news, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly 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 link. Also, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the transaction, the chief executive officer now owns 61,843 shares in the company, valued at approximately $14,223,890. The disclosure for this sale can be found here. Insiders have sold 33,723 shares of company stock valued at $7,795,397 in the last ninety days. 0.18% of the stock is currently owned by company 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.