American Tower Co. (REIT) (NYSE:AMT) Holdings Reduced by Schnieders Capital Management LLC

Schnieders Capital Management LLC cut its stake in American Tower Co. (REIT) (NYSE:AMT) by 25.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,055 shares of the real estate investment trust’s stock after selling 1,050 shares during the period. Schnieders Capital Management LLC’s holdings in American Tower were worth $825,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Nippon Life Global Investors Americas Inc. bought a new position in shares of American Tower in the first quarter valued at approximately $8,954,000. Dupont Capital Management Corp boosted its holdings in shares of American Tower by 43.0% in the second quarter. Dupont Capital Management Corp now owns 40,934 shares of the real estate investment trust’s stock valued at $11,058,000 after acquiring an additional 12,316 shares in the last quarter. Achmea Investment Management B.V. boosted its holdings in shares of American Tower by 9.1% in the first quarter. Achmea Investment Management B.V. now owns 59,281 shares of the real estate investment trust’s stock valued at $14,172,000 after acquiring an additional 4,951 shares in the last quarter. Doyle Wealth Management boosted its holdings in shares of American Tower by 78.8% in the first quarter. Doyle Wealth Management now owns 30,945 shares of the real estate investment trust’s stock valued at $7,398,000 after acquiring an additional 13,635 shares in the last quarter. Finally, State of Michigan Retirement System boosted its holdings in shares of American Tower by 2.5% in the second quarter. State of Michigan Retirement System now owns 114,295 shares of the real estate investment trust’s stock valued at $30,876,000 after acquiring an additional 2,800 shares in the last quarter. Institutional investors and hedge funds own 89.57% of the company’s stock.

In other news, EVP Steven O. Vondran sold 8,046 shares of the stock in a transaction on Monday, July 12th. The shares were sold at an average price of $279.09, for a total transaction of $2,245,558.14. Following the transaction, the executive vice president now owns 25,755 shares in the company, valued at approximately $7,187,962.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert D. Hormats sold 100 shares of the stock in a transaction on Tuesday, July 20th. The stock was sold at an average price of $283.11, for a total transaction of $28,311.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,085 shares of company stock worth $2,552,330. Company insiders own 0.68% of the company’s stock.

Shares of NYSE:AMT traded down $1.70 during mid-day trading on Friday, hitting $295.44. The stock had a trading volume of 26,169 shares, compared to its average volume of 1,847,401. The company has a debt-to-equity ratio of 4.83, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market cap of $134.47 billion, a PE ratio of 59.91, a P/E/G ratio of 2.07 and a beta of 0.24. American Tower Co. has a 12-month low of $197.50 and a 12-month high of $303.72. The company’s 50 day moving average is $287.04 and its 200-day moving average is $261.03.

American Tower (NYSE:AMT) last released its quarterly earnings data on Wednesday, July 28th. The real estate investment trust reported $1.65 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.27 by ($0.62). American Tower had a net margin of 25.84% and a return on equity of 44.60%. On average, equities research analysts predict that American Tower Co. will post 9.28 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Tuesday, September 28th will be paid a $1.31 dividend. This represents a $5.24 annualized dividend and a yield of 1.77%. This is a positive change from American Tower’s previous quarterly dividend of $1.27. American Tower’s dividend payout ratio is currently 60.19%.

Several research firms have recently issued reports on AMT. Truist increased their price objective on shares of American Tower from $280.00 to $315.00 and gave the company a “buy” rating in a report on Friday, July 30th. Wells Fargo & Company increased their target price on shares of American Tower from $280.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, July 16th. Citigroup lowered shares of American Tower from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 13th. Raymond James increased their target price on shares of American Tower from $261.00 to $296.00 and gave the company an “outperform” rating in a research note on Tuesday, August 3rd. Finally, Oppenheimer lowered shares of American Tower from an “outperform” rating to a “market perform” rating and cut their target price for the company from $305.00 to $300.00 in a research note on Friday, September 10th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $298.29.

American Tower Profile

American Tower Corp. provides real estate investment services, and owns, operates, and develops multitenant communications real estate properties. It operates through the following segments: U.S. & Canada, Asia-Pacific, Europe, Africa Latin America, and Services. The Asia-Pacific segment refers to the operations in Australia and India.

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

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