Lenox Wealth Management Inc. decreased its stake in shares of American Tower Corp (NYSE:AMT) by 12.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,418 shares of the real estate investment trust’s stock after selling 198 shares during the quarter. Lenox Wealth Management Inc.’s holdings in American Tower were worth $314,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in AMT. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower during the 3rd quarter worth approximately $25,000. Nelson Roberts Investment Advisors LLC acquired a new stake in American Tower in the 2nd quarter valued at $27,000. Next Capital Management LLC acquired a new stake in American Tower in the 2nd quarter valued at $31,000. NewSquare Capital LLC grew its position in American Tower by 192.3% in the 2nd quarter. NewSquare Capital LLC now owns 152 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 100 shares during the period. Finally, CX Institutional grew its position in American Tower by 54.9% in the 2nd quarter. CX Institutional now owns 158 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 56 shares during the period. 92.54% of the stock is owned by institutional investors.
NYSE:AMT traded up $0.18 during trading hours on Friday, hitting $205.87. 1,799,862 shares of the company traded hands, compared to its average volume of 1,770,815. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 4.40. The firm’s 50-day simple moving average is $220.99 and its 200-day simple moving average is $213.42. American Tower Corp has a one year low of $150.66 and a one year high of $242.00. The company has a market cap of $91.20 billion, a PE ratio of 25.77, a PEG ratio of 1.65 and a beta of 0.43.
American Tower (NYSE:AMT) last issued its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $1.12 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.17. American Tower had a return on equity of 27.12% and a net margin of 20.58%. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period last year, the business earned $1.85 EPS. The business’s revenue was up 9.5% on a year-over-year basis. As a group, equities research analysts expect that American Tower Corp will post 7.65 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Friday, September 27th were paid a dividend of $0.95 per share. The ex-dividend date was Thursday, September 26th. This is a boost from American Tower’s previous quarterly dividend of $0.92. This represents a $3.80 annualized dividend and a yield of 1.85%. American Tower’s dividend payout ratio (DPR) is 47.56%.
In other American Tower news, Director Pamela D. A. Reeve sold 4,167 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $240.80, for a total transaction of $1,003,413.60. Following the transaction, the director now directly owns 19,139 shares in the company, valued at approximately $4,608,671.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Craig Macnab sold 5,953 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $225.46, for a total value of $1,342,163.38. Following the transaction, the director now owns 14,341 shares in the company, valued at $3,233,321.86. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 141,524 shares of company stock worth $31,726,127. Company insiders own 0.75% of the company’s stock.
Several research firms recently issued reports on AMT. SunTrust Banks lifted their price target on shares of American Tower to $230.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. KeyCorp set a $242.00 price target on shares of American Tower and gave the company a “buy” rating in a research report on Friday, November 1st. Zacks Investment Research raised shares of American Tower from a “hold” rating to a “buy” rating and set a $237.00 price target for the company in a research report on Tuesday, August 20th. JPMorgan Chase & Co. lifted their price target on shares of American Tower from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Cowen lifted their price target on shares of American Tower from $238.00 to $260.00 and gave the company an “in-line” rating in a research report on Friday, November 1st. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. American Tower presently has an average rating of “Hold” and an average target price of $215.79.
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 approximately 171,000 communications sites.
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