American Tower Co. (NYSE:AMT) Shares Bought by Quent Capital LLC

Quent Capital LLC increased its stake in American Tower Co. (NYSE:AMT) by 48.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,239 shares of the real estate investment trust’s stock after acquiring an additional 402 shares during the quarter. Quent Capital LLC’s holdings in American Tower were worth $287,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Northwest Investment Counselors LLC acquired a new position in shares of American Tower in the 1st quarter valued at $25,000. Cultivar Capital Inc. purchased a new stake in American Tower during the second quarter valued at about $25,000. Fairscale Capital LLC acquired a new position in shares of American Tower in the second quarter worth about $27,000. Hobbs Group Advisors LLC purchased a new position in shares of American Tower in the second quarter worth approximately $29,000. Finally, SOA Wealth Advisors LLC. purchased a new stake in shares of American Tower in the 1st quarter valued at approximately $30,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total value of $508,020.33. Following the transaction, the chief accounting officer now owns 31,873 shares of the company’s stock, valued at $7,424,177.89. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the firm’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 sale, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction of $508,020.33. Following the transaction, the chief accounting officer now owns 31,873 shares in the company, valued at approximately $7,424,177.89. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,723 shares of company stock valued at $7,795,397 over the last 90 days. 0.18% of the stock is currently owned by company insiders.

American Tower Price Performance

NYSE AMT opened at $223.66 on Friday. The stock has a market capitalization of $104.44 billion, a PE ratio of 50.60, a price-to-earnings-growth ratio of 1.06 and a beta of 0.83. The company has a 50 day moving average price of $228.88 and a two-hundred day moving average price of $204.51. 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 posted 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 previous year, the company earned $2.46 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts predict that American Tower Co. will post 10.13 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders 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 yield of 2.90%. American Tower’s payout ratio is currently 146.61%.

Analysts Set New Price Targets

A number of equities analysts recently commented on AMT shares. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada raised their target price on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. BMO Capital Markets upped their price target on American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, September 13th. Scotiabank lifted their target price 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. Finally, Mizuho lifted their target price on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Two equities research 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $234.00.

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.