SG Americas Securities LLC Sells 18,235 Shares of American Tower Co. (NYSE:AMT)

SG Americas Securities LLC reduced its position in shares of American Tower Co. (NYSE:AMT) by 22.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,329 shares of the real estate investment trust’s stock after selling 18,235 shares during the period. SG Americas Securities LLC’s holdings in American Tower were worth $14,960,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in American Tower in the first quarter valued at approximately $25,000. Cultivar Capital Inc. acquired a new position in American Tower in the second quarter valued at approximately $25,000. Fairscale Capital LLC acquired a new position in American Tower in the second quarter valued at approximately $27,000. Hobbs Group Advisors LLC acquired a new position in American Tower in the second quarter valued at approximately $29,000. Finally, SOA Wealth Advisors LLC. acquired a new position in American Tower in the first quarter valued at approximately $30,000. 92.69% of the stock is currently owned by institutional investors.

American Tower Price Performance

AMT traded down $5.62 during trading on Friday, reaching $223.66. 1,942,688 shares of the company were exchanged, compared to its average volume of 2,231,376. The company’s 50-day moving average is $228.88 and its two-hundred day moving average is $204.46. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $243.56. The company has a market cap of $104.47 billion, a price-to-earnings ratio of 50.60, a P/E/G ratio of 1.06 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 (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the previous year, the business earned $2.46 EPS. The business’s revenue was up 4.7% on a year-over-year basis. Research analysts forecast that American Tower Co. will post 10.13 earnings per share for the current fiscal year.

American Tower Announces Dividend

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

Insider Buying and Selling at American Tower

In related news, CEO Steven O. Vondran sold 21,537 shares of the firm’s 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 transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the firm’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 directly owns 31,873 shares of the company’s stock, valued at approximately $7,424,177.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,723 shares of company stock valued at $7,795,397 in the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. BMO Capital Markets upped their target price on American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, September 13th. The Goldman Sachs Group assumed coverage on American Tower in a research report on Monday, July 1st. They set a “buy” rating and a $230.00 target price on the stock. Deutsche Bank Aktiengesellschaft upped their price target on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Mizuho upped their price objective on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Finally, Wells Fargo & Company upped their price objective on American Tower from $225.00 to $245.00 and gave the company an “overweight” 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, American Tower has an average rating of “Moderate Buy” and an average price target of $234.00.

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.