American Tower Co. (NYSE:AMT) Shares Bought by Financial Management Professionals Inc.

Financial Management Professionals Inc. boosted its stake in shares of American Tower Co. (NYSE:AMT) by 1,069.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,660 shares of the real estate investment trust’s stock after purchasing an additional 1,518 shares during the period. Financial Management Professionals Inc.’s holdings in American Tower were worth $386,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Frank Rimerman Advisors LLC lifted its holdings in American Tower by 12.8% in the third quarter. Frank Rimerman Advisors LLC now owns 4,098 shares of the real estate investment trust’s stock valued at $953,000 after acquiring an additional 465 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of American Tower by 0.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 282,469 shares of the real estate investment trust’s stock valued at $65,691,000 after purchasing an additional 2,470 shares during the period. Pathway Financial Advisers LLC boosted its holdings in American Tower by 23,224.1% during the third quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock worth $231,941,000 after buying an additional 993,061 shares in the last quarter. Arkadios Wealth Advisors grew its position in American Tower by 4.0% during the third quarter. Arkadios Wealth Advisors now owns 1,737 shares of the real estate investment trust’s stock valued at $404,000 after buying an additional 67 shares during the period. Finally, Forsta AP Fonden increased its holdings in American Tower by 6.8% in the third quarter. Forsta AP Fonden now owns 117,000 shares of the real estate investment trust’s stock valued at $27,210,000 after buying an additional 7,400 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of American Tower stock opened at $222.80 on Friday. The business’s 50 day moving average price is $228.80 and its 200 day moving average price is $207.66. The company has a market cap of $104.04 billion, a price-to-earnings ratio of 50.41, a PEG ratio of 1.08 and a beta of 0.83. 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 one year low of $162.55 and a one year high of $243.56.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the firm posted $2.46 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. On average, research analysts predict that American Tower Co. will post 10.12 EPS for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s payout ratio is 146.61%.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of analyst reports. StockNews.com upgraded American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Barclays increased their target price on American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. upped their price objective on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Royal Bank of Canada increased their price objective on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Finally, Mizuho boosted their target price on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus target price of $237.92.

Insider Buying and Selling at American Tower

In other news, 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 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 approximately $12,070,789.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the completion of the transaction, the executive vice president now directly owns 51,746 shares in the company, valued at $12,070,789.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total value of $508,020.33. Following the completion of the sale, the chief accounting officer now owns 31,873 shares in the company, valued at $7,424,177.89. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,723 shares of company stock valued at $7,795,397 over the last 90 days. 0.18% of the stock is owned by insiders.

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.