American Tower Co. (NYSE:AMT) Shares Sold by Hutchens & Kramer Investment Management Group LLC

Hutchens & Kramer Investment Management Group LLC reduced its stake in shares of American Tower Co. (NYSE:AMT) by 5.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,248 shares of the real estate investment trust’s stock after selling 328 shares during the period. Hutchens & Kramer Investment Management Group LLC’s holdings in American Tower were worth $1,218,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Meyer Handelman Co. purchased a new stake in American Tower during the 1st quarter valued at about $801,000. Czech National Bank increased its holdings in American Tower by 6.9% in the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after buying an additional 6,163 shares during the period. Kingsview Wealth Management LLC raised its position in American Tower by 13.8% during the 1st quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock worth $7,613,000 after buying an additional 4,660 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of American Tower by 27.7% in the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock valued at $4,029,000 after acquiring an additional 4,430 shares during the last quarter. Finally, Cetera Advisors LLC increased its stake in shares of American Tower by 29.0% in the first quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock worth $8,157,000 after acquiring an additional 9,275 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at American Tower

In other news, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was 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 in the company, 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 SEC, which is available at this hyperlink. In other news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction on Friday, August 2nd. The stock was 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 owns 51,746 shares in the company, valued at $12,070,789.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the transaction, the chief accounting officer now directly owns 31,873 shares in the company, valued at approximately $7,424,177.89. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,723 shares of company stock valued at $7,795,397. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AMT shares. Mizuho boosted their target price 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. Deutsche Bank Aktiengesellschaft upped their target price on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Barclays lifted their price target on American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Scotiabank upped their price objective on American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, July 31st. 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 investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $235.21.

American Tower Price Performance

American Tower stock traded up $7.81 during midday trading on Tuesday, reaching $229.51. The company had a trading volume of 2,309,767 shares, compared to its average volume of 2,289,686. 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 Co. has a 12-month low of $157.25 and a 12-month high of $243.56. The company has a market capitalization of $107.18 billion, a P/E ratio of 51.88, a P/E/G ratio of 1.00 and a beta of 0.83. The firm’s fifty day simple moving average is $228.48 and its 200-day simple moving average is $205.68.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter last year, the business earned $2.46 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts anticipate that American Tower Co. will post 10.13 EPS for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is 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.