American Tower Co. (NYSE:AMT) Shares Sold by Bbjs Financial Advisors LLC

Bbjs Financial Advisors LLC decreased its holdings in American Tower Co. (NYSE:AMT) by 40.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,055 shares of the real estate investment trust’s stock after selling 2,772 shares during the quarter. American Tower makes up approximately 0.3% of Bbjs Financial Advisors LLC’s holdings, making the stock its 25th largest holding. Bbjs Financial Advisors LLC’s holdings in American Tower were worth $788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of American Tower during the 4th quarter worth about $1,051,898,000. Wellington Management Group LLP raised its position in American Tower by 21.9% in the fourth quarter. Wellington Management Group LLP now owns 15,823,622 shares of the real estate investment trust’s stock valued at $3,416,004,000 after purchasing an additional 2,839,570 shares during the period. Principal Financial Group Inc. lifted its stake in shares of American Tower by 36.2% during the first quarter. Principal Financial Group Inc. now owns 8,794,776 shares of the real estate investment trust’s stock worth $1,737,760,000 after purchasing an additional 2,336,501 shares in the last quarter. Edgewood Management LLC lifted its stake in shares of American Tower by 46.2% during the fourth quarter. Edgewood Management LLC now owns 4,985,879 shares of the real estate investment trust’s stock worth $1,076,352,000 after purchasing an additional 1,576,683 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in shares of American Tower by 41.0% in the fourth quarter. Jennison Associates LLC now owns 5,299,306 shares of the real estate investment trust’s stock worth $1,144,014,000 after buying an additional 1,541,029 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT traded down $2.92 during midday trading on Tuesday, hitting $222.62. 5,449,764 shares of the stock traded hands, compared to its average volume of 2,376,382. 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 Co. has a 1-year low of $154.58 and a 1-year high of $236.13. The business’s 50 day moving average price is $205.26 and its two-hundred day moving average price is $195.11. The firm has a market capitalization of $103.96 billion, a PE ratio of 51.04, a price-to-earnings-growth ratio of 1.56 and a beta 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 firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. American Tower’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.46 EPS. Equities research analysts predict that American Tower Co. will post 10.04 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 14th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $6.48 annualized dividend and a yield of 2.91%. American Tower’s payout ratio is 146.61%.

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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was 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 $14,223,890. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 sale, the executive vice president now owns 51,746 shares in the company, valued at approximately $12,070,789.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,227 shares of company stock worth $8,497,458. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of analyst reports. Morgan Stanley upped their price target on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Scotiabank raised their target price on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised their price objective on American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. BMO Capital Markets reaffirmed an “outperform” rating and issued a $246.00 target price (up from $225.00) on shares of American Tower in a research report on Wednesday, July 31st. Finally, TD Cowen raised their price target on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $230.42.

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.