XTX Topco Ltd Sells 1,745 Shares of American Tower Co. (NYSE:AMT)

XTX Topco Ltd trimmed its position in American Tower Co. (NYSE:AMT) by 18.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,844 shares of the real estate investment trust’s stock after selling 1,745 shares during the quarter. XTX Topco Ltd’s holdings in American Tower were worth $1,525,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new position in shares of American Tower during the 1st quarter worth $25,000. Cultivar Capital Inc. acquired a new position in American Tower during the second quarter worth about $25,000. Gold Investment Management Ltd. bought a new position in shares of American Tower in the fourth quarter worth about $28,000. Hobbs Group Advisors LLC acquired a new stake in shares of American Tower in the 2nd quarter valued at approximately $29,000. Finally, SOA Wealth Advisors LLC. bought a new stake in shares of American Tower during the 1st quarter valued at approximately $30,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on shares of American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Mizuho boosted their price objective on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. TD Cowen upped their target price on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company lifted their price target on American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, BMO Capital Markets raised their price objective on shares of American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, September 13th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $233.29.

Insider Activity

In related news, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the sale, the chief accounting officer now owns 31,873 shares of the company’s stock, valued at approximately $7,424,177.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction dated Friday, August 2nd. The stock was 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 $14,223,890. The disclosure for this sale can be found here. Insiders sold a total of 33,723 shares of company stock worth $7,795,397 over the last quarter. 0.18% of the stock is currently owned by corporate insiders.

American Tower Price Performance

AMT stock opened at $232.31 on Friday. The company’s fifty day simple moving average is $224.08 and its 200 day simple moving average is $202.24. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $243.56. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. The firm has a market cap of $108.48 billion, a price-to-earnings ratio of 52.56, a PEG ratio of 1.60 and a beta of 0.83.

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). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period in the prior year, the business earned $2.46 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts expect that American Tower Co. will post 10.13 earnings per share for the current year.

American Tower Announces Dividend

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 $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Wednesday, October 9th. American Tower’s payout ratio is 146.61%.

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.