Teamwork Financial Advisors LLC Reduces Stake in American Tower Corp (NYSE:AMT)

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Teamwork Financial Advisors LLC lessened its position in shares of American Tower Corp (NYSE:AMT) by 59.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,330 shares of the real estate investment trust’s stock after selling 3,383 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in American Tower were worth $563,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in AMT. Loomis Sayles & Co. L P purchased a new position in American Tower during the 1st quarter worth approximately $152,000. Silvercrest Asset Management Group LLC raised its holdings in American Tower by 5.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 12,596 shares of the real estate investment trust’s stock worth $2,743,000 after purchasing an additional 644 shares during the last quarter. Atom Investors LP raised its holdings in American Tower by 88.6% during the first quarter. Atom Investors LP now owns 4,792 shares of the real estate investment trust’s stock worth $1,043,000 after purchasing an additional 2,251 shares during the last quarter. Two Sigma Advisers LP raised its holdings in American Tower by 9.6% during the first quarter. Two Sigma Advisers LP now owns 255,800 shares of the real estate investment trust’s stock worth $55,700,000 after purchasing an additional 22,500 shares during the last quarter. Finally, CIBC World Markets Inc. raised its holdings in American Tower by 26.7% during the first quarter. CIBC World Markets Inc. now owns 26,194 shares of the real estate investment trust’s stock worth $5,704,000 after purchasing an additional 5,514 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

AMT has been the subject of several research reports. KeyCorp cut American Tower from an “overweight” rating to a “sector weight” rating in a report on Monday, July 13th. Deutsche Bank Aktiengesellschaft dropped their price target on American Tower from $305.00 to $300.00 and set a “buy” rating for the company in a research report on Tuesday, October 6th. Oppenheimer began coverage on American Tower in a research report on Tuesday, August 11th. They set a “buy” rating and a $290.00 price target for the company. Wells Fargo & Company dropped their price target on American Tower from $290.00 to $285.00 and set an “overweight” rating for the company in a research report on Wednesday, September 16th. Finally, Zacks Investment Research raised American Tower from a “sell” rating to a “hold” rating and set a $273.00 price target for the company in a research report on Monday, June 29th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $273.69.

In other American Tower news, EVP Steven O. Vondran sold 1,334 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $259.00, for a total transaction of $345,506.00. Following the completion of the sale, the executive vice president now owns 22,224 shares of the company’s stock, valued at $5,756,016. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Amit Sharma sold 18,440 shares of the business’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $258.94, for a total value of $4,774,853.60. Following the sale, the executive vice president now directly owns 231,689 shares of the company’s stock, valued at approximately $59,993,549.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,525 shares of company stock valued at $6,870,712. 0.65% of the stock is owned by company insiders.

Shares of NYSE:AMT traded up $3.12 during midday trading on Friday, reaching $242.72. The company’s stock had a trading volume of 1,479,993 shares, compared to its average volume of 2,082,038. The firm has a market cap of $107.66 billion, a price-to-earnings ratio of 56.32, a price-to-earnings-growth ratio of 2.08 and a beta of 0.37. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 5.38. American Tower Corp has a 1 year low of $174.32 and a 1 year high of $272.20. The business has a 50 day moving average price of $246.13 and a 200 day moving average price of $249.44.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $1.00 EPS for the quarter, missing the Zacks’ consensus estimate of $1.99 by ($0.99). American Tower had a net margin of 24.70% and a return on equity of 39.62%. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same period in the prior year, the firm earned $2.01 EPS. American Tower’s revenue for the quarter was up 1.2% on a year-over-year basis. Sell-side analysts anticipate that American Tower Corp will post 8 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Monday, September 28th were given a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Friday, September 25th. This is an increase from American Tower’s previous quarterly dividend of $1.10. American Tower’s payout ratio is 58.99%.

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 approximately 171,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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