Sivia Capital Partners LLC Buys 59 Shares of American Tower Co. (NYSE:AMT)

Sivia Capital Partners LLC boosted its holdings in American Tower Co. (NYSE:AMT) by 5.3% during the third quarter, HoldingsChannel.com reports. The fund owned 1,179 shares of the real estate investment trust’s stock after purchasing an additional 59 shares during the period. Sivia Capital Partners LLC’s holdings in American Tower were worth $274,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of American Tower by 36.2% during the first quarter. Principal Financial Group Inc. now owns 8,794,776 shares of the real estate investment trust’s stock worth $1,737,760,000 after acquiring an additional 2,336,501 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of American Tower by 41.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock valued at $1,243,333,000 after acquiring an additional 1,885,421 shares during the period. Vanguard Group Inc. lifted its stake in shares of American Tower by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock worth $12,248,812,000 after buying an additional 965,938 shares during the last quarter. M&G Plc acquired a new stake in shares of American Tower during the 1st quarter worth about $164,300,000. Finally, Swedbank AB acquired a new stake in American Tower in the 1st quarter worth about $123,861,000. 92.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of research reports. The Goldman Sachs Group initiated coverage on shares of American Tower in a report on Monday, July 1st. They set a “buy” rating and a $230.00 target price on the stock. TD Cowen upped their price objective on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $245.00 to $230.00 in a research note on Thursday. BMO Capital Markets increased their price target 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. 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 research note on Thursday, August 15th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.21.

Insider Activity

In other American Tower 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 directly owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now directly owns 31,873 shares in the company, valued at $7,424,177.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Olivier Puech sold 10,005 shares of the firm’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 completion of the transaction, the executive vice president now owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,723 shares of company stock valued at $7,795,397. 0.18% of the stock is currently owned by insiders.

American Tower Stock Up 0.8 %

NYSE AMT traded up $1.76 during trading hours on Monday, hitting $221.03. 427,642 shares of the company were exchanged, compared to its average volume of 2,284,159. American Tower Co. has a 52-week low of $157.25 and a 52-week high of $243.56. The firm has a market cap of $103.22 billion, a price-to-earnings ratio of 49.61, a PEG ratio of 1.00 and a beta of 0.83. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. The company has a 50 day moving average of $228.56 and a two-hundred day moving average of $205.51.

American Tower (NYSE:AMT) last posted its quarterly earnings data 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 return on equity of 23.06% and a net margin of 21.95%. The company 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 business posted $2.46 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts anticipate that American Tower Co. will post 10.13 earnings per share for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s dividend payout ratio is currently 146.61%.

About American Tower

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.