Hunter Perkins Capital Management LLC Sells 2,805 Shares of American Tower Co. (NYSE:AMT)

Hunter Perkins Capital Management LLC reduced its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 13.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,840 shares of the real estate investment trust's stock after selling 2,805 shares during the period. Hunter Perkins Capital Management LLC's holdings in American Tower were worth $4,149,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. NBT Bank N A NY increased its holdings in American Tower by 3.3% during the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust's stock worth $329,000 after buying an additional 54 shares during the last quarter. CX Institutional increased its holdings in American Tower by 2.9% during the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust's stock worth $450,000 after buying an additional 54 shares during the last quarter. O Brien Greene & Co. Inc increased its holdings in American Tower by 2.3% during the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust's stock worth $481,000 after buying an additional 55 shares during the last quarter. CFO4Life Group LLC increased its holdings in American Tower by 5.4% during the first quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust's stock worth $221,000 after buying an additional 57 shares during the last quarter. Finally, Tyche Wealth Partners LLC increased its holdings in American Tower by 4.9% during the second quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust's stock worth $242,000 after buying an additional 58 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Price Performance

Shares of AMT stock traded down $1.85 during trading hours on Wednesday, reaching $227.58. The stock had a trading volume of 1,518,098 shares, compared to its average volume of 2,043,177. The stock's fifty day simple moving average is $228.51 and its 200 day simple moving average is $205.91. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower Co. has a 12 month low of $157.25 and a 12 month high of $243.56. The firm has a market capitalization of $106.30 billion, a PE ratio of 42.78, a PEG ratio of 1.01 and a beta of 0.83.

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

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be paid a $1.62 dividend. 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 2.85%. American Tower's dividend payout ratio (DPR) is 121.80%.

Insider Activity

In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total value of $508,020.33. Following the completion of the sale, the chief accounting officer now owns 31,873 shares of the company's stock, valued at approximately $7,424,177.89. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, 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 transaction 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 $14,223,890. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the sale, the chief accounting officer now owns 31,873 shares of the company's stock, valued at $7,424,177.89. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,723 shares of company stock valued at $7,795,397. Corporate insiders own 0.18% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on AMT. The Goldman Sachs Group assumed coverage on shares of American Tower in a report on Monday, July 1st. They set a "buy" rating and a $230.00 price objective for the company. TD Cowen lifted their target price on shares of American Tower from $226.00 to $239.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Barclays lifted their target price on shares of American Tower from $223.00 to $255.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. Scotiabank lifted their target price on shares of American Tower from $223.00 to $248.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company downgraded shares of American Tower from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $235.21.

About American Tower

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.