New England Research & Management Inc. Sells 300 Shares of American Tower Co. (NYSE:AMT)

New England Research & Management Inc. reduced its position in American Tower Co. (NYSE:AMT) by 11.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,417 shares of the real estate investment trust’s stock after selling 300 shares during the quarter. New England Research & Management Inc.’s holdings in American Tower were worth $562,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. NBT Bank N A NY boosted its stake in American Tower by 3.3% during the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock worth $329,000 after acquiring an additional 54 shares in the last quarter. O Brien Greene & Co. Inc boosted its stake in American Tower by 2.3% during the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock worth $481,000 after acquiring an additional 55 shares in the last quarter. CFO4Life Group LLC boosted its stake in American Tower by 5.4% during the first quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock worth $221,000 after acquiring an additional 57 shares in the last quarter. Tyche Wealth Partners LLC boosted its stake in American Tower by 4.9% during the second quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock worth $242,000 after acquiring an additional 58 shares in the last quarter. Finally, Advisors Management Group Inc. ADV boosted its stake in American Tower by 4.6% during the first quarter. Advisors Management Group Inc. ADV now owns 1,347 shares of the real estate investment trust’s stock worth $266,000 after acquiring an additional 59 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Mizuho upped their price objective 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. Wells Fargo & Company upped their price objective on shares of American Tower from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. The Goldman Sachs Group started coverage on shares of American Tower in a report on Monday, July 1st. They set a “buy” rating and a $230.00 price objective on the stock. Finally, Royal Bank of Canada upped 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 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, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $234.00.

American Tower Stock Performance

NYSE AMT traded down $0.30 during trading hours on Monday, reaching $223.36. 1,658,002 shares of the company were exchanged, compared to its average volume of 2,306,181. 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 $104.30 billion, a P/E ratio of 50.52, a P/E/G ratio of 1.06 and a beta of 0.83. American Tower Co. has a 1 year low of $157.25 and a 1 year high of $243.56. The business’s 50 day simple moving average is $228.88 and its 200-day simple moving average is $204.58.

American Tower (NYSE:AMT) last issued 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 business 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%. American Tower’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.46 EPS. On average, equities research analysts expect that American Tower Co. will post 10.13 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be given a dividend of $1.62 per share. 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 dividend payout ratio is presently 146.61%.

Insiders Place Their Bets

In other news, CEO Steven O. Vondran sold 21,537 shares of the firm’s 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 approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Olivier Puech sold 10,005 shares of the firm’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 value of $2,333,866.35. Following the sale, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at $12,070,789.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,723 shares of company stock worth $7,795,397 over the last quarter. 0.18% of the stock is currently owned by company insiders.

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.