Bard Financial Services Inc. Sells 700 Shares of American Tower Co. (NYSE:AMT)

Bard Financial Services Inc. cut its position in American Tower Co. (NYSE:AMT) by 20.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,700 shares of the real estate investment trust’s stock after selling 700 shares during the quarter. Bard Financial Services Inc.’s holdings in American Tower were worth $628,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower in the first quarter valued at about $25,000. Cultivar Capital Inc. acquired a new stake in American Tower in the 2nd quarter valued at approximately $25,000. Fairscale Capital LLC bought a new position in American Tower in the 2nd quarter worth approximately $27,000. Hobbs Group Advisors LLC acquired a new position in shares of American Tower during the second quarter worth approximately $29,000. Finally, SOA Wealth Advisors LLC. bought a new stake in shares of American Tower in the first quarter valued at approximately $30,000. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Mizuho upped their target price on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. The Goldman Sachs Group assumed coverage on American Tower in a research report on Monday, July 1st. They issued a “buy” rating and a $230.00 target price for the company. TD Cowen boosted their price target on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada raised 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. 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $234.00.

Insider Buying and Selling at American Tower

In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 31,873 shares in the company, valued at $7,424,177.89. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the transaction, the chief accounting officer now owns 31,873 shares of the company’s stock, valued at $7,424,177.89. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were 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 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 33,723 shares of company stock worth $7,795,397. Insiders own 0.18% of the company’s stock.

American Tower Stock Performance

American Tower stock opened at $223.66 on Friday. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $243.56. The stock has a 50-day simple moving average of $228.88 and a 200 day simple moving average of $204.51. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. The stock has a market capitalization of $104.44 billion, a price-to-earnings ratio of 50.60, a P/E/G ratio of 1.06 and a beta of 0.83.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $2.46 EPS. On average, research analysts anticipate that American Tower Co. will post 10.13 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 2.90%. American Tower’s payout ratio is presently 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.