American Tower Co. (NYSE:AMT) Shares Bought by Weaver Capital Management LLC

Weaver Capital Management LLC lifted its position in shares of American Tower Co. (NYSE:AMT) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,901 shares of the real estate investment trust’s stock after purchasing an additional 233 shares during the period. Weaver Capital Management LLC’s holdings in American Tower were worth $2,070,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new stake in shares of American Tower during the 1st quarter worth approximately $25,000. Cultivar Capital Inc. acquired a new stake in American Tower during the 2nd quarter worth $25,000. Fairscale Capital LLC purchased a new stake in American Tower in the second quarter valued at $27,000. Hobbs Group Advisors LLC purchased a new position in shares of American Tower during the second quarter worth about $29,000. Finally, Family Firm Inc. acquired a new stake in shares of American Tower during the second quarter worth about $35,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Up 0.0 %

AMT stock opened at $221.52 on Wednesday. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. American Tower Co. has a 12 month low of $157.25 and a 12 month high of $243.56. The firm has a market capitalization of $103.44 billion, a PE ratio of 50.12, a P/E/G ratio of 1.03 and a beta of 0.83. The company’s 50 day simple moving average is $228.52 and its 200-day simple moving average is $207.05.

American Tower (NYSE:AMT) last issued 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 company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.46 earnings per share. Equities analysts expect that American Tower Co. will post 10.12 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors 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 2.93%. American Tower’s dividend payout ratio (DPR) is currently 146.61%.

Insiders Place Their Bets

In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the 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 transaction, the chief executive officer now owns 61,843 shares of the company’s stock, valued at $14,223,890. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction dated 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 owns 61,843 shares of the company’s stock, valued at $14,223,890. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s 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 completion of the sale, the chief accounting officer now owns 31,873 shares of the company’s stock, valued at approximately $7,424,177.89. 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.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of research reports. Scotiabank raised their price target on American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group started coverage on shares of American Tower in a report on Monday, July 1st. They issued a “buy” rating and a $230.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada raised their price target on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $237.92.

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.