Naviter Wealth LLC Has $7.70 Million Holdings in American Tower Co. (NYSE:AMT)

Naviter Wealth LLC cut its stake in American Tower Co. (NYSE:AMT - Free Report) by 12.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,102 shares of the real estate investment trust's stock after selling 4,718 shares during the quarter. American Tower makes up approximately 1.1% of Naviter Wealth LLC's investment portfolio, making the stock its 17th largest holding. Naviter Wealth LLC's holdings in American Tower were worth $7,698,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. boosted its position in shares of American Tower by 36.2% in the first quarter. Principal Financial Group Inc. now owns 8,794,776 shares of the real estate investment trust's stock valued at $1,737,760,000 after acquiring an additional 2,336,501 shares during the period. Ameriprise Financial Inc. boosted its holdings in American Tower by 41.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust's stock valued at $1,243,333,000 after purchasing an additional 1,885,421 shares during the period. Vanguard Group Inc. grew its position in shares of American Tower by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust's stock worth $12,248,812,000 after purchasing an additional 965,938 shares in the last quarter. M&G Plc bought a new position in shares of American Tower during the first quarter worth approximately $164,300,000. Finally, Swedbank AB acquired a new stake in shares of American Tower in the first quarter valued at approximately $123,861,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Insider Transactions at American Tower

In related news, EVP Olivier Puech sold 10,005 shares of the company's stock in a transaction dated 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 sale, the executive vice president now owns 51,746 shares in the company, valued at $12,070,789.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the transaction, the chief executive officer now owns 61,843 shares in the company, valued at approximately $14,223,890. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $2,333,866.35. Following the sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,723 shares of company stock worth $7,795,397. Company insiders own 0.18% of the company's stock.

American Tower Price Performance

AMT traded down $3.36 on Thursday, reaching $224.16. The stock had a trading volume of 2,021,719 shares, compared to its average volume of 2,284,516. The firm has a 50-day moving average of $228.55 and a 200-day moving average of $206.18. The company has a market capitalization of $104.70 billion, a price-to-earnings ratio of 42.14, a price-to-earnings-growth ratio of 1.01 and a beta of 0.83. American Tower Co. has a fifty-two week low of $157.25 and a fifty-two week high of $243.56. 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 (NYSE:AMT - Get Free Report) last announced its quarterly earnings results 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 business 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%. The company's revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.46 earnings per share. As a group, sell-side analysts anticipate that American Tower Co. will post 10.13 EPS for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be given 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 2.89%. American Tower's dividend payout ratio (DPR) is 121.80%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AMT shares. StockNews.com upgraded American Tower from a "hold" rating to a "buy" rating in a research note on Wednesday, July 31st. Barclays boosted their price target on American Tower from $223.00 to $255.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. BMO Capital Markets increased their price objective on shares of American Tower from $246.00 to $260.00 and gave the stock an "outperform" rating in a research note on Friday, September 13th. Scotiabank boosted their target price on shares of American Tower from $223.00 to $248.00 and gave the company a "sector outperform" rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, September 23rd. Three investment 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 MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $235.21.

American Tower Company 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.