Bogart Wealth LLC Purchases 29,988 Shares of American Tower Co. (NYSE:AMT)

Bogart Wealth LLC increased its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 249,900.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,000 shares of the real estate investment trust's stock after buying an additional 29,988 shares during the period. Bogart Wealth LLC's holdings in American Tower were worth $6,977,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Fairscale Capital LLC acquired a new stake in shares of American Tower during the 2nd quarter worth approximately $27,000. Northwest Investment Counselors LLC acquired a new stake in American Tower in the third quarter worth $30,000. Cultivar Capital Inc. bought a new stake in American Tower in the second quarter valued at $25,000. Hobbs Group Advisors LLC acquired a new position in shares of American Tower during the second quarter valued at about $29,000. Finally, Family Firm Inc. bought a new position in shares of American Tower during the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analyst Weigh In

AMT has been the subject of a number of research analyst reports. Mizuho boosted their target price on American Tower from $205.00 to $221.00 and gave the company a "neutral" rating in a research report on Thursday, September 12th. The Goldman Sachs Group assumed coverage on American Tower in a report on Monday, July 1st. They issued a "buy" rating and a $230.00 target price on the stock. Scotiabank boosted their price target on shares of American Tower from $223.00 to $248.00 and gave the company a "sector outperform" rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of American Tower from $212.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, August 14th. Finally, BMO Capital Markets boosted their target price on shares of American Tower from $246.00 to $260.00 and gave the stock an "outperform" rating in a research report on Friday, September 13th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, American Tower presently has a consensus rating of "Moderate Buy" and an average target price of $237.92.

Insider Activity at American Tower

In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction dated Friday, August 2nd. The stock was 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 owns 61,843 shares of the company's stock, valued at $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 is available through this link. In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business's stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction of $508,020.33. Following the completion of the transaction, the chief accounting officer now owns 31,873 shares of the company's stock, valued at approximately $7,424,177.89. 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 can be accessed through the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of the firm'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 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,723 shares of company stock worth $7,795,397. 0.18% of the stock is owned by company insiders.

American Tower Stock Performance

Shares of AMT stock traded down $0.39 on Thursday, hitting $225.88. 1,618,283 shares of the stock were exchanged, compared to its average volume of 2,272,951. American Tower Co. has a one year low of $160.49 and a one year high of $243.56. The firm's 50 day moving average is $228.58 and its two-hundred day moving average is $207.19. The firm has a market capitalization of $105.50 billion, a PE ratio of 42.55, a P/E/G ratio of 1.08 and a beta of 0.83. 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 posted 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). 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 the consensus estimate of $2.82 billion. During the same period last year, the firm earned $2.46 EPS. The business's revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts expect that American Tower Co. will post 10.12 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 given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower's dividend payout ratio (DPR) is presently 121.80%.

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.