SWS Partners Sells 2,612 Shares of American Tower Co. (NYSE:AMT)

SWS Partners decreased its position in American Tower Co. (NYSE:AMT - Free Report) by 24.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,951 shares of the real estate investment trust's stock after selling 2,612 shares during the quarter. SWS Partners' holdings in American Tower were worth $1,849,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMT. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower in the 1st quarter valued at about $25,000. Cultivar Capital Inc. acquired a new stake in shares of American Tower in the 2nd quarter valued at about $25,000. Fairscale Capital LLC acquired a new stake in shares of American Tower in the 2nd quarter valued at about $27,000. Hobbs Group Advisors LLC acquired a new stake in shares of American Tower in the 2nd quarter valued at about $29,000. Finally, SOA Wealth Advisors LLC. acquired a new stake in shares of American Tower in the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Insider Activity

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 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 trade was 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 link. In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the business's 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 completion of the transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Olivier Puech sold 10,005 shares of the business's stock in a transaction that occurred on 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 transaction, the executive vice president now owns 51,746 shares of the company's stock, valued at approximately $12,070,789.42. 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. Corporate insiders own 0.18% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on AMT. Deutsche Bank Aktiengesellschaft raised their price objective on American Tower from $212.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, August 14th. BMO Capital Markets raised their price objective on American Tower from $246.00 to $260.00 and gave the company an "outperform" rating in a report on Friday, September 13th. Royal Bank of Canada raised their price objective on American Tower from $225.00 to $236.00 and gave the company an "outperform" rating in a report on Thursday, August 15th. JPMorgan Chase & Co. raised their price objective on American Tower from $240.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, September 23rd. Finally, Mizuho raised their price objective on American Tower from $205.00 to $221.00 and gave the company a "neutral" rating in a report on Thursday, September 12th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, American Tower presently has an average rating of "Moderate Buy" and an average target price of $235.21.

American Tower Stock Performance

AMT stock traded up $7.81 during mid-day trading on Tuesday, hitting $229.51. 2,309,767 shares of the company were exchanged, compared to its average volume of 2,289,686. The business has a 50 day simple moving average of $228.48 and a 200-day simple moving average of $205.68. 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 stock has a market capitalization of $107.18 billion, a PE ratio of 51.88, a price-to-earnings-growth ratio of 1.00 and a beta of 0.83. American Tower Co. has a 1-year low of $157.25 and a 1-year high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.52). The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The company's revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $2.46 earnings per share. On average, equities analysts forecast that American Tower Co. will post 10.13 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.82%. American Tower's payout ratio is 146.61%.

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.