Texas Yale Capital Corp. Cuts Holdings in American Tower Corp (NYSE:AMT)

Texas Yale Capital Corp. decreased its stake in shares of American Tower Corp (NYSE:AMT) by 47.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,759 shares of the real estate investment trust’s stock after selling 9,537 shares during the quarter. Texas Yale Capital Corp.’s holdings in American Tower were worth $2,200,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Canton Hathaway LLC purchased a new stake in American Tower during the 1st quarter worth about $26,000. Cable Hill Partners LLC increased its holdings in shares of American Tower by 61.9% in the 1st quarter. Cable Hill Partners LLC now owns 136 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 52 shares during the last quarter. Spectrum Management Group Inc. purchased a new position in shares of American Tower in the 1st quarter valued at about $29,000. CX Institutional increased its holdings in shares of American Tower by 54.9% in the 2nd quarter. CX Institutional now owns 158 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 56 shares during the last quarter. Finally, Certified Advisory Corp increased its holdings in shares of American Tower by 76.9% in the 1st quarter. Certified Advisory Corp now owns 184 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 80 shares during the last quarter. Institutional investors own 94.09% of the company’s stock.

American Tower stock traded down $0.38 during mid-day trading on Monday, reaching $215.09. 695,555 shares of the company were exchanged, compared to its average volume of 1,590,184. American Tower Corp has a twelve month low of $140.40 and a twelve month high of $218.79. The stock has a 50-day moving average price of $209.27. The company has a current ratio of 0.49, a quick ratio of 0.50 and a debt-to-equity ratio of 4.13. The stock has a market capitalization of $95.24 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 1.76 and a beta of 0.50.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.91). American Tower had a return on equity of 24.75% and a net margin of 19.30%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the previous year, the business posted $1.74 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. Sell-side analysts predict that American Tower Corp will post 7.63 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Wednesday, June 19th were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 1.71%. This is a boost from American Tower’s previous quarterly dividend of $0.90. The ex-dividend date was Tuesday, June 18th. American Tower’s dividend payout ratio (DPR) is presently 46.06%.

A number of research analysts have recently commented on the company. UBS Group downgraded American Tower from a “buy” rating to a “neutral” rating and increased their price objective for the company from $195.00 to $222.00 in a report on Friday, June 7th. KeyCorp upped their target price on American Tower from $207.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. They noted that the move was a valuation call. JPMorgan Chase & Co. upped their target price on American Tower from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday. Morgan Stanley upped their target price on American Tower from $185.00 to $201.00 and gave the company an “equal weight” rating in a research report on Monday, May 20th. Finally, Royal Bank of Canada upped their target price on American Tower from $195.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. American Tower has a consensus rating of “Hold” and a consensus target price of $193.38.

In other American Tower news, CEO James D. Taiclet, Jr. sold 57,439 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $207.93, for a total transaction of $11,943,291.27. Following the completion of the sale, the chief executive officer now directly owns 255,415 shares of the company’s stock, valued at approximately $53,108,440.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Robert Joseph Meyer, Jr. sold 44,168 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $198.33, for a total value of $8,759,839.44. Following the sale, the senior vice president now directly owns 54,460 shares of the company’s stock, valued at $10,801,051.80. The disclosure for this sale can be found here. Insiders have sold a total of 177,846 shares of company stock valued at $36,141,479 over the last ninety days. 0.75% of the stock is owned by insiders.

About American Tower

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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