Good Life Advisors LLC Acquires Shares of 863 American Tower Co. (NYSE:AMT)

Good Life Advisors LLC acquired a new stake in shares of American Tower Co. (NYSE:AMT) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 863 shares of the real estate investment trust’s stock, valued at approximately $201,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. SPC Financial Inc. boosted its stake in American Tower by 4.1% during the 3rd quarter. SPC Financial Inc. now owns 3,071 shares of the real estate investment trust’s stock valued at $714,000 after acquiring an additional 120 shares during the last quarter. Fulton Breakefield Broenniman LLC increased its stake in American Tower by 5.3% during the 3rd quarter. Fulton Breakefield Broenniman LLC now owns 1,780 shares of the real estate investment trust’s stock valued at $414,000 after buying an additional 90 shares during the period. Presima Securities ULC raised its holdings in shares of American Tower by 1.7% in the 3rd quarter. Presima Securities ULC now owns 18,235 shares of the real estate investment trust’s stock worth $4,241,000 after purchasing an additional 300 shares in the last quarter. Regent Peak Wealth Advisors LLC bought a new stake in shares of American Tower in the 3rd quarter worth approximately $227,000. Finally, Baskin Financial Services Inc. raised its holdings in shares of American Tower by 1.4% during the third quarter. Baskin Financial Services Inc. now owns 24,940 shares of the real estate investment trust’s stock valued at $5,800,000 after acquiring an additional 344 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $245.00 to $230.00 in a report on Thursday, October 10th. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets boosted their price objective on shares of American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. boosted their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Finally, Scotiabank boosted their price objective on shares of American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $237.92.

Insider Buying and Selling

In related news, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $14,223,890. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 33,723 shares of company stock valued at $7,795,397. Company insiders own 0.18% of the company’s stock.

American Tower Stock Performance

AMT stock opened at $226.30 on Monday. 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 company has a market capitalization of $105.70 billion, a price-to-earnings ratio of 42.54, a P/E/G ratio of 1.03 and a beta of 0.83. American Tower Co. has a 12 month low of $157.25 and a 12 month high of $243.56. The firm has a 50 day moving average of $228.62 and a two-hundred day moving average of $206.61.

American Tower (NYSE:AMT) last posted 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 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%. American Tower’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.46 earnings per share. As a group, equities analysts anticipate that American Tower Co. will post 10.12 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s dividend payout ratio is currently 121.80%.

About American Tower

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.