Ayalon Insurance Comp Ltd. reduced its position in shares of American Tower Co. (NYSE:AMT – Free Report) by 43.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,830 shares of the real estate investment trust’s stock after selling 2,928 shares during the period. Ayalon Insurance Comp Ltd.’s holdings in American Tower were worth $750,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the company. Personal Capital Advisors Corp grew its position in shares of American Tower by 1.7% in the 1st quarter. Personal Capital Advisors Corp now owns 2,510 shares of the real estate investment trust’s stock worth $631,000 after buying an additional 43 shares during the period. Cigna Investments Inc. New grew its position in shares of American Tower by 0.8% in the 4th quarter. Cigna Investments Inc. New now owns 5,767 shares of the real estate investment trust’s stock worth $1,222,000 after buying an additional 48 shares during the period. Lumature Wealth Partners LLC grew its position in shares of American Tower by 40.3% in the 1st quarter. Lumature Wealth Partners LLC now owns 174 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 50 shares during the period. NBT Bank N A NY grew its position in shares of American Tower by 4.1% in the 1st quarter. NBT Bank N A NY now owns 1,304 shares of the real estate investment trust’s stock worth $266,000 after buying an additional 51 shares during the period. Finally, Inscription Capital LLC grew its position in shares of American Tower by 0.5% in the 1st quarter. Inscription Capital LLC now owns 9,460 shares of the real estate investment trust’s stock worth $1,933,000 after buying an additional 51 shares during the period. 89.29% of the stock is owned by institutional investors.
Insider Transactions at American Tower
In other American Tower news, CFO Rodney M. Smith sold 2,727 shares of American Tower stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $187.17, for a total transaction of $510,412.59. Following the transaction, the chief financial officer now owns 50,662 shares of the company’s stock, valued at $9,482,406.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other American Tower news, CFO Rodney M. Smith sold 3,524 shares of American Tower stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $188.91, for a total transaction of $665,718.84. Following the transaction, the chief financial officer now owns 53,389 shares of the company’s stock, valued at $10,085,715.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rodney M. Smith sold 2,727 shares of American Tower stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $187.17, for a total transaction of $510,412.59. Following the transaction, the chief financial officer now directly owns 50,662 shares in the company, valued at approximately $9,482,406.54. The disclosure for this sale can be found here. Insiders have sold 16,251 shares of company stock worth $2,957,531 in the last quarter. Company insiders own 0.24% of the company’s stock.
American Tower Price Performance
Shares of NYSE:AMT opened at $166.21 on Friday. The firm’s 50 day moving average price is $182.27 and its 200-day moving average price is $191.11. American Tower Co. has a twelve month low of $165.91 and a twelve month high of $235.57. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 2.96. The stock has a market capitalization of $77.48 billion, a PE ratio of 80.36, a price-to-earnings-growth ratio of 1.27 and a beta of 0.58.
American Tower Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Wednesday, October 11th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend is Tuesday, October 10th. This is a boost from American Tower’s previous quarterly dividend of $1.57. American Tower’s dividend payout ratio is 303.38%.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. Royal Bank of Canada reduced their target price on shares of American Tower from $233.00 to $230.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 1st. Raymond James cut their price objective on shares of American Tower from $211.00 to $205.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 22nd. BMO Capital Markets initiated coverage on shares of American Tower in a research report on Thursday, July 13th. They set an “outperform” rating and a $230.00 price objective on the stock. Barclays cut their price objective on shares of American Tower from $233.00 to $228.00 and set an “overweight” rating on the stock in a research report on Monday, August 7th. Finally, Morgan Stanley cut their price objective on shares of American Tower from $213.00 to $212.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 14th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $240.29.
Check Out Our Latest Stock Report on AMT
American Tower Company Profile
(Free Report)
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 nearly 226,000 communications sites and a highly interconnected footprint of U.S. data center facilities.
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