Sunbelt Securities Inc. Sells 108 Shares of American Tower Co. (NYSE:AMT)

Sunbelt Securities Inc. cut its position in shares of American Tower Co. (NYSE:AMT – Get Rating) by 6.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,573 shares of the real estate investment trust’s stock after selling 108 shares during the quarter. Sunbelt Securities Inc.’s holdings in American Tower were worth $338,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in American Tower by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 60,720,664 shares of the real estate investment trust’s stock worth $13,036,726,000 after acquiring an additional 406,906 shares during the last quarter. State Street Corp grew its position in American Tower by 0.5% during the 2nd quarter. State Street Corp now owns 21,350,193 shares of the real estate investment trust’s stock worth $5,486,565,000 after acquiring an additional 96,970 shares during the last quarter. FMR LLC grew its position in American Tower by 23.3% during the 2nd quarter. FMR LLC now owns 9,329,088 shares of the real estate investment trust’s stock worth $2,384,422,000 after acquiring an additional 1,762,240 shares during the last quarter. Dimensional Fund Advisors LP grew its position in American Tower by 1.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,223,809 shares of the real estate investment trust’s stock worth $1,336,250,000 after acquiring an additional 91,188 shares during the last quarter. Finally, Deutsche Bank AG grew its position in American Tower by 43.5% during the 2nd quarter. Deutsche Bank AG now owns 6,201,455 shares of the real estate investment trust’s stock worth $1,585,028,000 after acquiring an additional 1,879,086 shares during the last quarter. 89.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 1,574 shares of American Tower stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $233.92, for a total value of $368,190.08. Following the completion of the sale, the chief financial officer now owns 47,071 shares of the company’s stock, valued at $11,010,848.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other American Tower news, CFO Rodney M. Smith sold 1,574 shares of the business’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $233.92, for a total transaction of $368,190.08. Following the completion of the sale, the chief financial officer now owns 47,071 shares of the company’s stock, valued at $11,010,848.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rodney M. Smith sold 2,035 shares of the business’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $220.85, for a total value of $449,429.75. Following the sale, the chief financial officer now directly owns 48,645 shares of the company’s stock, valued at approximately $10,743,248.25. The disclosure for this sale can be found here. Insiders sold 8,587 shares of company stock valued at $1,947,849 over the last 90 days. Company insiders own 0.24% of the company’s stock.

American Tower Stock Up 1.3 %

AMT stock opened at $205.05 on Friday. American Tower Co. has a 1-year low of $178.17 and a 1-year high of $282.47. The business has a fifty day moving average price of $212.61 and a 200-day moving average price of $216.18. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market capitalization of $95.48 billion, a P/E ratio of 53.40, a P/E/G ratio of 2.07 and a beta of 0.56.

American Tower (NYSE:AMT – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The real estate investment trust reported ($1.47) EPS for the quarter, missing the consensus estimate of $2.16 by ($3.63). American Tower had a return on equity of 15.80% and a net margin of 16.49%. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the previous year, the firm earned $2.18 EPS. The business’s revenue was up 10.6% on a year-over-year basis. Equities analysts forecast that American Tower Co. will post 9.24 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, April 14th will be issued a $1.56 dividend. This represents a $6.24 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Thursday, April 13th. American Tower’s payout ratio is currently 162.50%.

Analysts Set New Price Targets

AMT has been the topic of a number of recent analyst reports. UBS Group cut their price objective on American Tower from $278.00 to $270.00 in a research report on Tuesday, December 13th. Barclays cut their price objective on American Tower from $247.00 to $246.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 8th. Credit Suisse Group cut their price objective on American Tower from $251.00 to $244.00 and set an “outperform” rating on the stock in a research report on Friday, February 24th. Royal Bank of Canada cut their price objective on American Tower from $240.00 to $230.00 and set an “outperform” rating on the stock in a research report on Monday, March 6th. Finally, The Goldman Sachs Group upgraded American Tower from a “neutral” rating to a “buy” rating and raised their target price for the company from $215.00 to $245.00 in a research note on Tuesday, January 10th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $260.31.

American Tower Profile

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American Tower Corp. provides real estate investment services, and owns, operates, and develops multi-tenant real estate properties. It offers leasing of space on communications sites to wireless service providers, radio and television broadcast companies. It operates through the following segments: U.S.