American Tower Co. (NYSE:AMT) Shares Sold by Nwam LLC

Nwam LLC reduced its stake in American Tower Co. (NYSE:AMT) by 3.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,693 shares of the real estate investment trust’s stock after selling 59 shares during the period. Nwam LLC’s holdings in American Tower were worth $329,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMT. MV Capital Management Inc. raised its holdings in shares of American Tower by 75.3% in the 2nd quarter. MV Capital Management Inc. now owns 135 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 58 shares in the last quarter. Riverview Trust Co acquired a new stake in American Tower in the second quarter valued at $27,000. Pinnacle Holdings LLC purchased a new stake in American Tower during the 1st quarter worth about $29,000. Eagle Bay Advisors LLC acquired a new position in shares of American Tower during the 2nd quarter worth about $30,000. Finally, Sittner & Nelson LLC increased its holdings in shares of American Tower by 151.7% in the 1st quarter. Sittner & Nelson LLC now owns 151 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 91 shares during the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Price Performance

American Tower stock opened at $197.74 on Friday. The company has a debt-to-equity ratio of 3.15, a current ratio of 0.73 and a quick ratio of 0.73. The business has a 50 day simple moving average of $172.84 and a 200-day simple moving average of $182.72. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $235.57. The stock has a market capitalization of $92.18 billion, a PE ratio of 129.24, a price-to-earnings-growth ratio of 1.70 and a beta of 0.63.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Wednesday, October 11th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.28%. The ex-dividend date was Tuesday, October 10th. This is a boost from American Tower’s previous quarterly dividend of $1.57. American Tower’s dividend payout ratio (DPR) is 423.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AMT shares. Citigroup lowered their price target on American Tower from $230.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. Wells Fargo & Company dropped their target price on shares of American Tower from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 17th. Barclays reduced their price target on shares of American Tower from $233.00 to $228.00 and set an “overweight” rating for the company in a research report on Monday, August 7th. Raymond James dropped their price objective on American Tower from $211.00 to $205.00 and set an “outperform” rating on the stock in a report on Tuesday, August 22nd. Finally, StockNews.com began coverage on American Tower in a report on Thursday, October 5th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $228.60.

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 nearly 225,000 communications sites and a highly interconnected footprint of U.S. data center facilities.