American Tower Co. (NYSE:AMT) Shares Bought by Patrick M Sweeney & Associates Inc.

Patrick M Sweeney & Associates Inc. increased its holdings in American Tower Co. (NYSE:AMT) by 8.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,327 shares of the real estate investment trust’s stock after buying an additional 102 shares during the period. Patrick M Sweeney & Associates Inc.’s holdings in American Tower were worth $309,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Cultivar Capital Inc. bought a new position in shares of American Tower during the second quarter valued at approximately $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 stake in American Tower in the second quarter worth $29,000. Northwest Investment Counselors LLC acquired a new position in shares of American Tower during the third quarter valued at $30,000. Finally, Family Firm Inc. bought a new position in shares of American Tower during the second quarter worth about $35,000. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In other American Tower news, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction dated 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 directly owns 51,746 shares in the company, valued at $12,070,789.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Olivier Puech sold 10,005 shares of the company’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 sale, the executive vice president now owns 51,746 shares in the company, valued at approximately $12,070,789.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of 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. In the last quarter, insiders have sold 33,723 shares of company stock valued at $7,795,397. 0.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on AMT. The Goldman Sachs Group initiated coverage on shares of American Tower in a research report on Monday, July 1st. They issued a “buy” rating and a $230.00 price objective on the stock. Scotiabank increased their price objective on American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a report on Wednesday, July 31st. Wells Fargo & Company cut 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 report on Thursday, October 10th. Barclays boosted their price target on American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.92.

American Tower Stock Performance

Shares of AMT opened at $226.27 on Thursday. American Tower Co. has a 12-month low of $159.91 and a 12-month high of $243.56. The stock has a market capitalization of $105.69 billion, a P/E ratio of 42.53, a P/E/G ratio of 1.08 and a beta of 0.83. The firm’s 50 day moving average is $228.58 and its 200-day moving average is $207.19. 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 posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.52). The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. American Tower’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.46 EPS. Equities research analysts anticipate that American Tower Co. will post 10.12 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be given a $1.62 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.86%. American Tower’s dividend payout ratio (DPR) is 121.80%.

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.