Green Alpha Advisors LLC Decreases Position in American Tower Co. (NYSE:AMT)

Green Alpha Advisors LLC lessened its holdings in shares of American Tower Co. (NYSE:AMT) by 4.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,812 shares of the real estate investment trust’s stock after selling 168 shares during the period. Green Alpha Advisors LLC’s holdings in American Tower were worth $887,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Northwest Investment Counselors LLC purchased a new position in American Tower in the 1st quarter worth $25,000. Fairscale Capital LLC purchased a new position in American Tower in the 2nd quarter worth $27,000. Cultivar Capital Inc. purchased a new position in American Tower in the 2nd quarter worth $25,000. Hobbs Group Advisors LLC purchased a new position in American Tower in the 2nd quarter worth $29,000. Finally, SOA Wealth Advisors LLC. purchased a new position in American Tower in the 1st quarter worth $30,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of recent research reports. TD Cowen lifted their price objective on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets raised their target price on American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, September 13th. Royal Bank of Canada raised their target price on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Wells Fargo & Company raised their target price on American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Mizuho raised their target price on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $234.00.

American Tower Price Performance

AMT stock traded down $0.30 during trading on Monday, hitting $223.36. The stock had a trading volume of 1,658,002 shares, compared to its average volume of 2,306,181. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. American Tower Co. has a twelve month low of $157.25 and a twelve month high of $243.56. The stock has a market capitalization of $104.30 billion, a P/E ratio of 50.52, a PEG ratio of 1.06 and a beta of 0.83. The company’s 50-day moving average price is $228.88 and its two-hundred day moving average price is $204.58.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.52). The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.46 earnings per share. As a group, research analysts predict that American Tower Co. will post 10.13 EPS 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. Stockholders of record on Wednesday, October 9th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Wednesday, October 9th. American Tower’s dividend payout ratio is currently 146.61%.

Insider Transactions at American Tower

In other news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $14,223,890. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’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 sale, the chief accounting officer now owns 31,873 shares of the company’s stock, valued at $7,424,177.89. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Steven O. Vondran sold 21,537 shares of the business’s 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 directly owns 61,843 shares in the company, valued at approximately $14,223,890. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,723 shares of company stock worth $7,795,397 in the last ninety days. Insiders own 0.18% of the company’s stock.

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.