SG Americas Securities LLC Reduces Position in American Tower Co. (NYSE:AMT)

SG Americas Securities LLC lessened its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 22.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,329 shares of the real estate investment trust's stock after selling 18,235 shares during the period. SG Americas Securities LLC's holdings in American Tower were worth $14,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new stake in American Tower in the 1st quarter worth approximately $25,000. Cultivar Capital Inc. purchased a new stake in American Tower during the second quarter worth $25,000. Fairscale Capital LLC acquired a new stake in American Tower during the second quarter valued at $27,000. Hobbs Group Advisors LLC purchased a new position in American Tower in the second quarter valued at $29,000. Finally, SOA Wealth Advisors LLC. acquired a new position in shares of American Tower in the first quarter worth about $30,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Price Performance

AMT stock traded down $5.62 during mid-day trading on Friday, reaching $223.66. The company's stock had a trading volume of 1,942,688 shares, compared to its average volume of 2,231,376. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. The company's 50 day moving average is $228.88 and its two-hundred day moving average is $204.51. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $243.56. The stock has a market cap of $104.47 billion, a PE ratio of 50.60, a P/E/G ratio of 1.06 and a beta of 0.83.

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). The company 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%. American Tower'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 business posted $2.46 EPS. Equities research analysts expect that American Tower Co. will post 10.13 EPS for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower's dividend payout ratio is currently 146.61%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on AMT shares. BMO Capital Markets raised their target price on American Tower from $246.00 to $260.00 and gave the company an "outperform" rating in a research report on Friday, September 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on American Tower from $212.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, August 14th. Royal Bank of Canada increased their target price on American Tower from $225.00 to $236.00 and gave the company an "outperform" rating in a research report on Thursday, August 15th. Scotiabank boosted their price target on shares of American Tower from $223.00 to $248.00 and gave the stock a "sector outperform" rating in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group assumed coverage on shares of American Tower in a research report on Monday, July 1st. They set a "buy" rating and a $230.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $234.00.

Insider Buying and Selling

In other news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the sale, the chief executive officer now owns 61,843 shares of the company's stock, valued at approximately $14,223,890. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other American Tower news, EVP Olivier Puech sold 10,005 shares of the 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 completion of the transaction, the executive vice president now owns 51,746 shares of the company's stock, 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 the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the sale, the chief executive officer now owns 61,843 shares of the company's stock, valued at approximately $14,223,890. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,723 shares of company stock worth $7,795,397. Insiders own 0.18% of the company's stock.

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.