Consolidated Portfolio Review Corp Sells 263 Shares of American Tower Co. (NYSE:AMT)

Consolidated Portfolio Review Corp reduced its position in American Tower Co. (NYSE:AMT) by 5.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 4,612 shares of the real estate investment trust’s stock after selling 263 shares during the period. Consolidated Portfolio Review Corp’s holdings in American Tower were worth $1,073,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMT. Cultivar Capital Inc. bought a new stake in American Tower in the 2nd quarter valued at $25,000. Fairscale Capital LLC acquired a new stake in shares of American Tower during the 2nd quarter worth about $27,000. Hobbs Group Advisors LLC bought a new stake in shares of American Tower during the 2nd quarter worth about $29,000. Northwest Investment Counselors LLC acquired a new position in American Tower in the 3rd quarter valued at about $30,000. Finally, Family Firm Inc. acquired a new position in American Tower in the 2nd quarter valued at about $35,000. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the subject of several research reports. TD Cowen lifted their price target on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. BMO Capital Markets increased their target price on shares of American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, September 13th. Finally, Mizuho lifted their price target on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $237.92.

Insider Buying and Selling

In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction on Friday, August 2nd. The shares were 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 approximately $14,223,890. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other American Tower news, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 61,843 shares in the company, valued at $14,223,890. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,723 shares of company stock valued at $7,795,397 over the last ninety days. 0.18% of the stock is owned by corporate insiders.

American Tower Trading Down 1.4 %

AMT stock traded down $3.13 during trading on Friday, hitting $222.80. The company had a trading volume of 2,054,209 shares, compared to its average volume of 2,271,894. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower Co. has a one year low of $162.55 and a one year high of $243.56. The business has a 50-day moving average of $228.80 and a 200-day moving average of $207.56. The stock has a market cap of $104.04 billion, a PE ratio of 50.39, a PEG ratio of 1.08 and a beta of 0.83.

American Tower (NYSE:AMT) last announced its quarterly earnings data 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). The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.46 earnings per share. Research analysts predict that American Tower Co. will post 10.12 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.91%. American Tower’s payout ratio is presently 146.61%.

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.