Vert Asset Management LLC Acquires 588 Shares of American Tower Co. (NYSE:AMT)

Vert Asset Management LLC increased its stake in American Tower Co. (NYSE:AMT) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,860 shares of the real estate investment trust’s stock after purchasing an additional 588 shares during the quarter. American Tower comprises about 7.4% of Vert Asset Management LLC’s portfolio, making the stock its 2nd biggest holding. Vert Asset Management LLC’s holdings in American Tower were worth $21,596,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Stratos Investment Management LLC acquired a new stake in American Tower in the third quarter worth approximately $275,000. Aspiriant LLC bought a new stake in shares of American Tower in the 3rd quarter worth $221,000. Stonegate Investment Group LLC lifted its holdings in shares of American Tower by 4.7% in the third quarter. Stonegate Investment Group LLC now owns 6,443 shares of the real estate investment trust’s stock valued at $1,498,000 after buying an additional 287 shares during the period. Claro Advisors LLC boosted its stake in American Tower by 639.6% during the third quarter. Claro Advisors LLC now owns 12,240 shares of the real estate investment trust’s stock valued at $2,847,000 after buying an additional 10,585 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in American Tower by 8.2% during the third quarter. V Square Quantitative Management LLC now owns 10,089 shares of the real estate investment trust’s stock worth $2,346,000 after acquiring an additional 767 shares during the period. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

NYSE AMT opened at $226.30 on Friday. The company has a 50 day simple moving average of $228.62 and a 200-day simple moving average of $206.42. American Tower Co. has a 52-week low of $157.25 and a 52-week high of $243.56. The firm has a market capitalization of $105.68 billion, a price-to-earnings ratio of 51.20, a price-to-earnings-growth ratio of 1.01 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.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) 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 analyst estimates of $2.82 billion. During the same period last year, the business earned $2.46 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts predict that American Tower Co. will post 10.13 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 2.86%. The ex-dividend date is Wednesday, October 9th. American Tower’s payout ratio is currently 146.61%.

Insider Transactions at American Tower

In related news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the completion of the sale, the chief executive officer now owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other American Tower news, EVP Olivier Puech sold 10,005 shares of the 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 transaction, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at $12,070,789.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the completion of the sale, 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 33,723 shares of company stock valued at $7,795,397 in the last three months. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

AMT has been the subject of several research reports. StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Mizuho upped their price target on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft raised their price objective on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Finally, The Goldman Sachs Group started coverage on American Tower in a research report on Monday, July 1st. They set a “buy” rating and a $230.00 target price on the stock. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $237.92.

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.