TFG Advisers LLC Sells 170 Shares of American Tower Co. (NYSE:AMT)

TFG Advisers LLC trimmed its position in shares of American Tower Co. (NYSE:AMT) by 1.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,497 shares of the real estate investment trust’s stock after selling 170 shares during the period. American Tower makes up approximately 1.4% of TFG Advisers LLC’s investment portfolio, making the stock its 12th largest position. TFG Advisers LLC’s holdings in American Tower were worth $3,836,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new stake in American Tower during the 1st quarter worth $25,000. Cultivar Capital Inc. bought a new stake in shares of American Tower in the second quarter worth $25,000. Fairscale Capital LLC bought a new position in American Tower during the 2nd quarter worth $27,000. Hobbs Group Advisors LLC acquired a new position in American Tower during the 2nd quarter worth about $29,000. Finally, Family Firm Inc. bought a new stake in shares of American Tower in the 2nd quarter valued at about $35,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. BMO Capital Markets increased their target price 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. Mizuho boosted their price objective on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Wells Fargo & Company downgraded American Tower from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. TD Cowen boosted their target price on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Barclays lifted their price target on shares of American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $237.92.

Insider Buying and Selling at American Tower

In related news, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction dated 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 in the company, valued at $14,223,890. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Olivier Puech sold 10,005 shares of the business’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 sale, the executive vice president now owns 51,746 shares in the company, valued at approximately $12,070,789.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at $14,223,890. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,723 shares of company stock worth $7,795,397 over the last three months. Company insiders own 0.18% of the company’s stock.

American Tower Stock Performance

Shares of NYSE AMT traded up $1.83 during trading on Wednesday, reaching $223.29. 111,435 shares of the stock traded hands, compared to its average volume of 2,263,454. The stock has a market capitalization of $104.27 billion, a P/E ratio of 50.12, a price-to-earnings-growth ratio of 1.03 and a beta of 0.83. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. The company has a 50-day moving average of $228.52 and a 200-day moving average of $207.05. American Tower Co. has a 52-week low of $159.91 and a 52-week high of $243.56.

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

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s dividend payout ratio is presently 146.61%.

American Tower Company 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.