American Tower Co. (NYSE:AMT) Stake Lowered by Middleton & Co. Inc. MA

Middleton & Co. Inc. MA trimmed its position in shares of American Tower Co. (NYSE:AMT) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,087 shares of the real estate investment trust’s stock after selling 2,080 shares during the period. American Tower comprises approximately 1.4% of Middleton & Co. Inc. MA’s portfolio, making the stock its 25th biggest holding. Middleton & Co. Inc. MA’s holdings in American Tower were worth $11,874,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of AMT. Northwest Investment Counselors LLC purchased a new stake in shares of American Tower during the 1st quarter worth about $25,000. Gold Investment Management Ltd. bought a new stake in shares of American Tower in the 4th quarter valued at approximately $28,000. Cultivar Capital Inc. acquired a new position in American Tower in the second quarter worth approximately $25,000. Hobbs Group Advisors LLC bought a new position in American Tower during the second quarter valued at approximately $29,000. Finally, SOA Wealth Advisors LLC. acquired a new stake in American Tower in the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Down 1.5 %

Shares of AMT stock opened at $235.95 on Thursday. The stock has a 50 day moving average of $223.58 and a 200-day moving average of $202.03. The firm has a market cap of $110.18 billion, a PE ratio of 53.38, a price-to-earnings-growth ratio of 1.60 and a beta of 0.83. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $243.56.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 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 net margin of 21.95% and a return on equity of 23.06%. American Tower’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.46 earnings per share. On average, equities analysts predict that American Tower Co. will post 10.13 EPS for the current year.

American Tower Dividend Announcement

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

Wall Street Analysts Forecast Growth

AMT has been the topic of several analyst reports. The Goldman Sachs Group started coverage on shares of American Tower in a research note on Monday, July 1st. They set a “buy” rating and a $230.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. StockNews.com raised American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada increased their price objective on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Finally, Scotiabank raised their price objective 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. Two 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $233.29.

Insider Activity at American Tower

In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the firm’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 sale, the chief accounting officer now owns 31,873 shares in the company, valued at approximately $7,424,177.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the completion of the transaction, the chief accounting officer now directly owns 31,873 shares of the company’s stock, valued at approximately $7,424,177.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction dated 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 directly 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 worth $7,795,397 over the last three months. Company insiders own 0.18% of the company’s stock.

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.