American Tower Co. (NYSE:AMT) Shares Acquired by Clearstead Trust LLC

Clearstead Trust LLC grew its stake in American Tower Co. (NYSE:AMT - Free Report) by 257.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 13,312 shares of the real estate investment trust's stock after buying an additional 9,591 shares during the quarter. American Tower accounts for approximately 0.6% of Clearstead Trust LLC's portfolio, making the stock its 29th biggest position. Clearstead Trust LLC's holdings in American Tower were worth $2,588,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new stake in American Tower during the 1st quarter worth about $25,000. Cultivar Capital Inc. acquired a new position in American Tower in the second quarter valued at approximately $25,000. Gold Investment Management Ltd. purchased a new position in American Tower in the fourth quarter valued at approximately $28,000. Hobbs Group Advisors LLC acquired a new stake in American Tower during the second quarter worth approximately $29,000. Finally, SOA Wealth Advisors LLC. purchased a new stake in shares of American Tower during the 1st quarter worth approximately $30,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Olivier Puech sold 10,005 shares of the business's stock in a transaction dated 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 sale, the executive vice president now owns 51,746 shares of the company's stock, valued at $12,070,789.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related 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 completion of the transaction, the executive vice president now directly owns 51,746 shares of the company's stock, valued at $12,070,789.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of the company's 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 in the company, valued at approximately $14,223,890. The disclosure for this sale can be found here. Insiders sold 33,723 shares of company stock worth $7,795,397 in the last 90 days. 0.18% of the stock is currently owned by corporate insiders.

American Tower Stock Performance

NYSE:AMT traded down $0.88 during mid-day trading on Tuesday, reaching $239.44. The stock had a trading volume of 1,525,987 shares, compared to its average volume of 2,312,855. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $243.56. The business has a 50 day simple moving average of $221.93 and a 200 day simple moving average of $201.52. The firm has a market capitalization of $111.84 billion, a price-to-earnings ratio of 54.37, a PEG ratio of 1.57 and a beta of 0.83. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS 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 business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the prior year, the business earned $2.46 earnings per share. The firm's quarterly revenue was up 4.7% compared to the same quarter last year. On average, analysts expect that American Tower Co. will post 10.18 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.71%. American Tower's dividend payout ratio (DPR) is presently 146.61%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. 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 report on Wednesday, August 14th. Wells Fargo & Company lifted their price target on American Tower from $225.00 to $245.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 31st. StockNews.com raised American Tower from a "hold" rating to a "buy" rating in a report on Wednesday, July 31st. BMO Capital Markets lifted their target price on shares of American Tower from $246.00 to $260.00 and gave the company an "outperform" rating in a report on Friday. Finally, JPMorgan Chase & Co. increased their price target on shares of American Tower from $230.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $233.29.

American Tower 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.