American Tower Co. (REIT) (NYSE:AMT) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV lessened its stake in American Tower Co. (REIT) (NYSE:AMT) by 33.0% during the second quarter, HoldingsChannel.com reports. The firm owned 19,799 shares of the real estate investment trust’s stock after selling 9,741 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in American Tower were worth $5,349,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. NEXT Financial Group Inc raised its stake in shares of American Tower by 1.4% in the 2nd quarter. NEXT Financial Group Inc now owns 2,819 shares of the real estate investment trust’s stock valued at $762,000 after purchasing an additional 38 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of American Tower by 7.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 631 shares of the real estate investment trust’s stock valued at $170,000 after purchasing an additional 42 shares in the last quarter. Quest Capital Management Inc. ADV raised its stake in shares of American Tower by 2.7% in the 2nd quarter. Quest Capital Management Inc. ADV now owns 1,640 shares of the real estate investment trust’s stock valued at $443,000 after purchasing an additional 43 shares in the last quarter. Heritage Wealth Advisors raised its stake in shares of American Tower by 14.5% in the 2nd quarter. Heritage Wealth Advisors now owns 348 shares of the real estate investment trust’s stock valued at $78,000 after purchasing an additional 44 shares in the last quarter. Finally, WD Rutherford LLC raised its stake in American Tower by 1.2% during the second quarter. WD Rutherford LLC now owns 3,793 shares of the real estate investment trust’s stock worth $1,025,000 after acquiring an additional 45 shares during the period. Institutional investors and hedge funds own 89.57% of the company’s stock.

In other American Tower news, Director David E. Sharbutt sold 739 shares of the stock in a transaction that occurred on Friday, September 3rd. The shares were sold at an average price of $300.71, for a total value of $222,224.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert D. Hormats sold 100 shares of the stock in a transaction on Tuesday, August 24th. The stock was sold at an average price of $289.49, for a total transaction of $28,949.00. Following the transaction, the director now owns 6,340 shares in the company, valued at approximately $1,835,366.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,085 shares of company stock valued at $2,552,330. Insiders own 0.68% of the company’s stock.

Shares of NYSE:AMT opened at $297.14 on Friday. 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 $135.24 billion, a PE ratio of 59.91, a price-to-earnings-growth ratio of 2.07 and a beta of 0.24. American Tower Co. has a 52 week low of $197.50 and a 52 week high of $303.72. The firm has a 50 day simple moving average of $287.04 and a 200 day simple moving average of $261.03.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Wednesday, July 28th. The real estate investment trust reported $1.65 EPS 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 analysts predict that American Tower Co. will post 9.28 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Tuesday, September 28th will be given a $1.31 dividend. This represents a $5.24 annualized dividend and a dividend yield of 1.76%. This is an increase from American Tower’s previous quarterly dividend of $1.27. American Tower’s dividend payout ratio is 60.19%.

Several equities research analysts recently weighed in on AMT shares. Credit Suisse Group increased their price objective on shares of American Tower from $314.00 to $323.00 and gave the stock an “outperform” rating in a research note on Friday, July 30th. Argus upped their target price on shares of American Tower from $288.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, August 12th. Raymond James increased their price objective on shares of American Tower from $261.00 to $296.00 and gave the company an “outperform” rating in a report on Tuesday, August 3rd. Oppenheimer cut shares of American Tower from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $305.00 to $300.00 in a report on Friday, September 10th. Finally, Wells Fargo & Company increased their price objective on shares of American Tower from $280.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, July 16th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, American Tower presently has a consensus rating of “Buy” and an average target price of $298.29.

American Tower Company 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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