American Tower Co. (NYSE:AMT) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. cut its holdings in shares of American Tower Co. (NYSE:AMT) by 7.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 359,059 shares of the real estate investment trust’s stock after selling 27,204 shares during the period. Pacer Advisors Inc. owned approximately 0.08% of American Tower worth $69,794,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. NBT Bank N A NY grew its position in shares of American Tower by 3.3% during the 2nd quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock valued at $329,000 after acquiring an additional 54 shares during the period. O Brien Greene & Co. Inc grew its position in shares of American Tower by 2.3% during the 2nd quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock valued at $481,000 after acquiring an additional 55 shares during the period. Glassman Wealth Services grew its position in shares of American Tower by 4.7% during the 4th quarter. Glassman Wealth Services now owns 1,242 shares of the real estate investment trust’s stock valued at $268,000 after acquiring an additional 56 shares during the period. CFO4Life Group LLC grew its position in shares of American Tower by 5.4% during the 1st quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $221,000 after acquiring an additional 57 shares during the period. Finally, Tyche Wealth Partners LLC grew its position in shares of American Tower by 4.9% during the 2nd quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock valued at $242,000 after acquiring an additional 58 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Barclays decreased their price target 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. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Mizuho raised their price target on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Wells Fargo & Company raised their price target on shares of American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $233.29.

Insider Activity at American Tower

In related news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The shares were 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 owns 61,843 shares in the company, valued at approximately $14,223,890. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the completion of the transaction, the chief executive officer now owns 61,843 shares in the company, valued at $14,223,890. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was 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 owns 31,873 shares of the company’s stock, valued at approximately $7,424,177.89. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,723 shares of company stock worth $7,795,397. Insiders own 0.18% of the company’s stock.

American Tower Stock Up 1.2 %

AMT stock opened at $235.06 on Friday. The firm has a market cap of $109.77 billion, a PE ratio of 53.18, a PEG ratio of 1.60 and a beta of 0.83. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81. The firm’s 50 day moving average price is $224.57 and its 200-day moving average price is $202.42. American Tower Co. has a one year low of $154.58 and a one year high of $243.56.

American Tower (NYSE:AMT) last released its quarterly 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 firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.46 EPS. On average, equities research analysts anticipate that American Tower Co. will post 10.13 EPS for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 2.76%. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

American Tower Company 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.