American Tower Co. (NYSE:AMT) Stock Holdings Lifted by Summit Trail Advisors LLC

Summit Trail Advisors LLC raised its stake in American Tower Co. (NYSE:AMT) by 16.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,671 shares of the real estate investment trust’s stock after acquiring an additional 795 shares during the period. Summit Trail Advisors LLC’s holdings in American Tower were worth $1,111,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in AMT. Meyer Handelman Co. acquired a new position in American Tower during the 1st quarter valued at about $801,000. TD Asset Management Inc increased its holdings in shares of American Tower by 23.2% during the fourth quarter. TD Asset Management Inc now owns 275,428 shares of the real estate investment trust’s stock valued at $59,459,000 after purchasing an additional 51,882 shares during the period. Kingsview Wealth Management LLC lifted its holdings in American Tower by 13.8% in the first quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock worth $7,613,000 after purchasing an additional 4,660 shares during the period. Tidal Investments LLC grew its position in American Tower by 27.7% in the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock valued at $4,029,000 after buying an additional 4,430 shares in the last quarter. Finally, Cetera Advisors LLC increased its stake in American Tower by 29.0% during the 1st quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock valued at $8,157,000 after buying an additional 9,275 shares during the period. 92.69% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Steven O. Vondran sold 21,537 shares of American Tower 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 transaction, the chief executive officer now owns 61,843 shares of the company’s stock, valued at $14,223,890. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other 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 value of $508,020.33. Following the sale, the chief accounting officer now directly owns 31,873 shares of the company’s stock, valued at $7,424,177.89. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,723 shares of company stock worth $7,795,397. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on AMT. The Goldman Sachs Group assumed coverage on shares of American Tower in a research note on Monday, July 1st. They set a “buy” rating and a $230.00 price objective on the stock. 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 report on Wednesday, July 31st. Scotiabank lifted their target price on American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a report on Wednesday, July 31st. Mizuho raised their price objective on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Two 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $233.29.

American Tower Trading Up 1.2 %

Shares of NYSE AMT opened at $235.06 on Friday. The business has a 50 day simple moving average of $224.57 and a 200 day simple moving average of $202.42. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $243.56. The stock has a market cap of $109.77 billion, a price-to-earnings ratio of 53.18, a PEG ratio of 1.60 and a beta of 0.83. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81.

American Tower (NYSE:AMT) last announced its quarterly 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). The business 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% compared to the same quarter last year. During the same quarter last year, the company earned $2.46 EPS. On average, research 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 disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s payout ratio is 146.61%.

American Tower 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.