B. Metzler seel. Sohn & Co. AG Sells 7,042 Shares of American Tower Co. (NYSE:AMT)

B. Metzler seel. Sohn & Co. AG decreased its position in American Tower Co. (NYSE:AMTGet Rating) by 19.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,003 shares of the real estate investment trust’s stock after selling 7,042 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in American Tower were worth $7,668,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Charter Oak Capital Management LLC bought a new stake in American Tower during the second quarter worth approximately $26,000. Canton Hathaway LLC bought a new stake in American Tower during the second quarter worth approximately $29,000. Pinnacle Holdings LLC bought a new stake in American Tower during the first quarter worth approximately $29,000. Financial Management Professionals Inc. boosted its position in American Tower by 63.5% during the second quarter. Financial Management Professionals Inc. now owns 121 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 47 shares during the period. Finally, Rational Advisors LLC boosted its position in American Tower by 70.2% during the first quarter. Rational Advisors LLC now owns 143 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 59 shares during the period. Institutional investors own 91.03% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the subject of a number of recent analyst reports. The Goldman Sachs Group decreased their target price on American Tower from $250.00 to $215.00 and set a “neutral” rating for the company in a research report on Wednesday, October 12th. Raymond James upped their price target on American Tower from $219.00 to $233.00 and gave the stock a “market outperform” rating in a report on Wednesday. TheStreet lowered American Tower from a “b” rating to a “c+” rating in a report on Thursday, October 13th. Royal Bank of Canada cut their price target on American Tower from $265.00 to $240.00 and set an “outperform” rating for the company in a report on Tuesday, November 1st. Finally, Morgan Stanley cut their target price on American Tower from $257.00 to $209.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 18th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $259.40.

Insiders Place Their Bets

In other news, EVP Edmund Disanto sold 35,000 shares of the stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $207.20, for a total transaction of $7,252,000.00. Following the sale, the executive vice president now owns 157,685 shares in the company, valued at $32,672,332. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Edmund Disanto sold 35,000 shares of the stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $207.20, for a total transaction of $7,252,000.00. Following the sale, the executive vice president now owns 157,685 shares in the company, valued at $32,672,332. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joann A. Reed sold 1,231 shares of the firm’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $204.88, for a total value of $252,207.28. Following the completion of the transaction, the director now owns 54,554 shares in the company, valued at approximately $11,177,023.52. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

American Tower Price Performance

American Tower stock traded up $0.12 during mid-day trading on Thursday, hitting $218.25. 1,210,527 shares of the company were exchanged, compared to its average volume of 2,158,412. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 2.87. The business has a fifty day moving average of $210.81 and a 200 day moving average of $240.44. American Tower Co. has a 1-year low of $178.17 and a 1-year high of $294.40. The company has a market capitalization of $101.62 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 2.10 and a beta of 0.53.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 26th. Shareholders of record on Tuesday, October 11th were paid a dividend of $1.47 per share. This is a positive change from American Tower’s previous quarterly dividend of $1.43. This represents a $5.88 annualized dividend and a yield of 2.69%. The ex-dividend date was Friday, October 7th. American Tower’s dividend payout ratio is currently 93.33%.

About American Tower

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American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.

Further Reading

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

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