American Tower Co. (NYSE:AMT) Shares Sold by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. cut its stake in shares of American Tower Co. (NYSE:AMT) by 3.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,096 shares of the real estate investment trust’s stock after selling 109 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in American Tower were worth $602,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. West Coast Financial LLC increased its position in shares of American Tower by 2,376.3% during the second quarter. West Coast Financial LLC now owns 42,568 shares of the real estate investment trust’s stock valued at $8,274,000 after acquiring an additional 40,849 shares during the last quarter. SeaCrest Wealth Management LLC grew its holdings in shares of American Tower by 2.5% in the second quarter. SeaCrest Wealth Management LLC now owns 6,260 shares of the real estate investment trust’s stock valued at $1,217,000 after purchasing an additional 155 shares in the last quarter. Pallas Capital Advisors LLC grew its holdings in shares of American Tower by 9.4% in the second quarter. Pallas Capital Advisors LLC now owns 2,653 shares of the real estate investment trust’s stock valued at $559,000 after purchasing an additional 227 shares in the last quarter. Dakota Wealth Management grew its holdings in shares of American Tower by 18.0% in the second quarter. Dakota Wealth Management now owns 20,958 shares of the real estate investment trust’s stock valued at $4,074,000 after purchasing an additional 3,199 shares in the last quarter. Finally, Continuum Advisory LLC grew its holdings in shares of American Tower by 6.4% in the second quarter. Continuum Advisory LLC now owns 6,586 shares of the real estate investment trust’s stock valued at $1,280,000 after purchasing an additional 395 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AMT shares. Wells Fargo & Company lifted their price objective on shares of American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Raymond James upgraded shares of American Tower from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $226.00 to $248.00 in a report on Wednesday, May 1st. TD Cowen lifted their price objective on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. 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, Barclays lowered their price target on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $231.14.

American Tower Stock Up 0.3 %

Shares of NYSE:AMT traded up $0.72 during trading on Tuesday, hitting $220.38. 1,604,358 shares of the company were exchanged, compared to its average volume of 2,358,525. The stock has a market capitalization of $102.91 billion, a P/E ratio of 49.68, a PEG ratio of 1.50 and a beta of 0.81. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $236.13. The firm’s 50 day moving average price is $207.58 and its 200-day moving average price is $195.94.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the prior year, the firm posted $2.46 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, research analysts predict that American Tower Co. will post 10.04 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 14th were given a $1.62 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $6.48 annualized dividend and a yield of 2.94%. American Tower’s dividend payout ratio (DPR) is 146.61%.

Insider Activity at American Tower

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 value of $4,953,510.00. Following the completion of the sale, the chief executive officer now owns 61,843 shares in the company, valued at approximately $14,223,890. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other American Tower 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 transaction, the chief executive officer now owns 61,843 shares in the company, valued at approximately $14,223,890. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the transaction, the executive vice president now owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The disclosure for this sale can be found here. Insiders sold a total of 37,227 shares of company stock worth $8,497,458 in the last 90 days. 0.18% of the stock is owned by insiders.

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.