waypoint wealth counsel Boosts Stake in American Tower Co. (NYSE:AMT)

waypoint wealth counsel lifted its holdings in shares of American Tower Co. (NYSE:AMT) by 5.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,216 shares of the real estate investment trust’s stock after acquiring an additional 62 shares during the quarter. waypoint wealth counsel’s holdings in American Tower were worth $283,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Quent Capital LLC raised its holdings in American Tower by 48.0% in the third quarter. Quent Capital LLC now owns 1,239 shares of the real estate investment trust’s stock valued at $287,000 after acquiring an additional 402 shares in the last quarter. Harbor Investment Advisory LLC raised its stake in shares of American Tower by 0.8% in the 3rd quarter. Harbor Investment Advisory LLC now owns 17,913 shares of the real estate investment trust’s stock valued at $4,166,000 after purchasing an additional 138 shares in the last quarter. Thrive Wealth Management LLC raised its stake in shares of American Tower by 2.0% in the 3rd quarter. Thrive Wealth Management LLC now owns 5,360 shares of the real estate investment trust’s stock valued at $1,247,000 after purchasing an additional 107 shares in the last quarter. Peoples Bank KS acquired a new position in American Tower in the third quarter worth about $53,000. Finally, Canandaigua National Bank & Trust Co. increased its holdings in American Tower by 2.5% in the third quarter. Canandaigua National Bank & Trust Co. now owns 11,243 shares of the real estate investment trust’s stock valued at $2,615,000 after buying an additional 272 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Steven O. Vondran sold 21,537 shares of the 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 transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other American Tower news, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $4,953,510.00. Following the transaction, the chief executive officer now 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 disclosure for this sale can be found here. In the last three months, insiders have sold 33,723 shares of company stock worth $7,795,397. 0.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. StockNews.com raised American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada lifted their price objective on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Mizuho increased their target price on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. BMO Capital Markets lifted their price target on shares of American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, September 13th. Finally, TD Cowen increased their price objective on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and a consensus price target of $234.00.

American Tower Stock Performance

Shares of NYSE AMT traded down $5.62 during midday trading on Friday, hitting $223.66. 1,942,688 shares of the company’s stock were exchanged, compared to its average volume of 2,231,376. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $243.56. The firm has a market cap of $104.47 billion, a P/E ratio of 50.60, a PEG ratio of 1.06 and a beta of 0.83. The stock’s 50 day moving average price is $228.88 and its 200-day moving average price is $204.51. 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 (NYSE:AMT) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.46 EPS. Equities research analysts anticipate that American Tower Co. will post 10.13 EPS for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 2.90%. 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.