Diversified Trust Co Purchases 1,902 Shares of American Tower Co. (NYSE:AMT)

Diversified Trust Co raised its position in shares of American Tower Co. (NYSE:AMT) by 66.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,750 shares of the real estate investment trust’s stock after purchasing an additional 1,902 shares during the period. Diversified Trust Co’s holdings in American Tower were worth $1,105,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of AMT. Northwest Investment Counselors LLC bought a new stake in American Tower during the 1st quarter valued at $25,000. Cultivar Capital Inc. purchased a new position in shares of American Tower in the 2nd quarter valued at $25,000. Fairscale Capital LLC purchased a new position in shares of American Tower in the 2nd quarter valued at $27,000. Hobbs Group Advisors LLC purchased a new position in shares of American Tower in the 2nd quarter valued at $29,000. Finally, SOA Wealth Advisors LLC. purchased a new position in shares of American Tower in the 1st quarter valued at $30,000. 92.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Scotiabank lifted their price target on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 31st. Mizuho lifted their price target on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. StockNews.com upgraded American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. The Goldman Sachs Group assumed 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. Finally, JPMorgan Chase & Co. boosted their target price on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Two investment 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.00.

Insider Activity

In other news, 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 value 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 $7,424,177.89. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the transaction, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,723 shares of company stock valued at $7,795,397 in the last quarter. 0.18% of the stock is currently owned by company insiders.

American Tower Stock Up 0.4 %

American Tower stock opened at $224.25 on Wednesday. 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 business’s 50-day simple moving average is $229.04 and its two-hundred day simple moving average is $204.79. The company has a market cap of $104.74 billion, a PE ratio of 50.74, a PEG ratio of 1.02 and a beta of 0.83. American Tower Co. has a fifty-two week low of $157.25 and a fifty-two week high of $243.56.

American Tower (NYSE:AMT) last issued 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 company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $2.46 EPS. Equities analysts anticipate that American Tower Co. will post 10.13 EPS for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders 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 2.89%. 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.