American Tower Co. (NYSE:AMT) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC trimmed its position in shares of American Tower Co. (NYSE:AMTGet Rating) by 6.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,201 shares of the real estate investment trust’s stock after selling 149 shares during the period. Axxcess Wealth Management LLC’s holdings in American Tower were worth $563,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Charter Oak Capital Management LLC acquired a new stake in shares of American Tower in the second quarter valued at $26,000. Canton Hathaway LLC acquired a new stake in shares of American Tower in the second quarter valued at $29,000. Pinnacle Holdings LLC acquired a new stake in shares of American Tower in the first quarter valued at $29,000. Financial Management Professionals Inc. raised its stake in American Tower by 63.5% in the second quarter. Financial Management Professionals Inc. now owns 121 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 47 shares in the last quarter. Finally, Rational Advisors LLC raised its stake in American Tower by 70.2% in the first quarter. Rational Advisors LLC now owns 143 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 59 shares in the last quarter. 91.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Joann A. Reed sold 1,231 shares of the business’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $204.88, for a total transaction of $252,207.28. Following the completion of the sale, the director now directly owns 54,554 shares of the company’s stock, valued at approximately $11,177,023.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Joann A. Reed sold 1,231 shares of the company’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $204.88, for a total transaction of $252,207.28. Following the completion of the sale, the director now directly owns 54,554 shares of the company’s stock, valued at approximately $11,177,023.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Edmund Disanto sold 35,000 shares of the company’s 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 directly owns 157,685 shares of the company’s stock, valued at $32,672,332. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

American Tower Stock Up 0.1 %

AMT stock opened at $218.25 on Thursday. The stock has a market capitalization of $101.62 billion, a P/E ratio of 34.64, a PEG ratio of 2.10 and a beta of 0.53. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.75 and a current ratio of 0.75. American Tower Co. has a one year low of $178.17 and a one year high of $294.40. The company has a 50 day moving average price of $210.81 and a two-hundred day moving average price of $240.44.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 26th. Shareholders of record on Tuesday, October 11th were paid a $1.47 dividend. This is a boost 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 of this dividend was Friday, October 7th. American Tower’s payout ratio is presently 93.33%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Barclays raised their price target on American Tower from $232.00 to $247.00 and gave the company an “overweight” rating in a research note on Monday, November 14th. KeyCorp cut their price target on American Tower from $264.00 to $252.00 and set an “overweight” rating on the stock in a research note on Friday, October 28th. Morgan Stanley cut their price target on American Tower from $257.00 to $209.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 18th. StockNews.com began coverage on American Tower in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company dropped their price objective on American Tower from $235.00 to $225.00 and set an “overweight” rating on the stock in a report on Friday, October 28th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $259.40.

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.

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

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