American Tower Co. (NYSE:AMT) Shares Sold by Perkins Coie Trust Co

Perkins Coie Trust Co lessened its holdings in shares of American Tower Co. (NYSE:AMT) by 2.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,752 shares of the real estate investment trust’s stock after selling 490 shares during the quarter. Perkins Coie Trust Co’s holdings in American Tower were worth $4,361,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Northwest Investment Counselors LLC acquired a new stake in American Tower in the first quarter valued at approximately $25,000. Fairscale Capital LLC bought a new stake in American Tower in the second quarter valued at $27,000. Cultivar Capital Inc. acquired a new position in shares of American Tower during the second quarter valued at $25,000. Hobbs Group Advisors LLC acquired a new position in shares of American Tower during the second quarter valued at $29,000. Finally, SOA Wealth Advisors LLC. bought a new stake in American Tower in the first quarter worth about $30,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMT. Scotiabank boosted their price objective on American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a report on Wednesday, July 31st. The Goldman Sachs Group began coverage on American Tower in a research note on Monday, July 1st. They set a “buy” rating and a $230.00 target price on the stock. Wells Fargo & Company boosted 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. Deutsche Bank Aktiengesellschaft boosted their target price on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Mizuho boosted their target price on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report 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 issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $234.00.

American Tower Stock Down 1.0 %

AMT stock traded down $2.22 during mid-day trading on Wednesday, reaching $222.06. The company had a trading volume of 84,923 shares, compared to its average volume of 2,291,327. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a 50 day simple moving average of $229.07 and a two-hundred day simple moving average of $205.01. The company has a market capitalization of $103.72 billion, a price-to-earnings ratio of 50.74, a PEG ratio of 1.02 and a beta of 0.83. American Tower Co. has a 52 week low of $157.25 and a 52 week 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 earnings per share 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 analyst estimates of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.46 earnings per share. 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 firm also recently declared 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. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.92%. American Tower’s dividend payout ratio (DPR) is currently 146.61%.

Insider Transactions at American Tower

In related news, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the sale, the executive vice president now owns 51,746 shares in the company, valued at $12,070,789.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the transaction, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction that occurred 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,723 shares of company stock valued at $7,795,397. Corporate 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.