Axxcess Wealth Management LLC Has $563,000 Stake in American Tower Co. (NYSE:AMT)

Axxcess Wealth Management LLC reduced its position in American Tower Co. (NYSE:AMTGet Rating) by 6.3% during the second quarter, Holdings Channel.com reports. The firm owned 2,201 shares of the real estate investment trust’s stock after selling 149 shares during the quarter. Axxcess Wealth Management LLC’s holdings in American Tower were worth $563,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AMT. Vanguard Group Inc. grew its holdings in American Tower by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 59,982,344 shares of the real estate investment trust’s stock valued at $15,068,764,000 after buying an additional 824,408 shares in the last quarter. State Street Corp grew its holdings in shares of American Tower by 7.9% during the first quarter. State Street Corp now owns 21,253,223 shares of the real estate investment trust’s stock worth $5,339,235,000 after purchasing an additional 1,550,683 shares in the last quarter. Cohen & Steers Inc. grew its holdings in shares of American Tower by 27.5% during the first quarter. Cohen & Steers Inc. now owns 19,680,735 shares of the real estate investment trust’s stock worth $4,944,107,000 after purchasing an additional 4,239,151 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of American Tower by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 6,213,168 shares of the real estate investment trust’s stock worth $1,560,871,000 after purchasing an additional 112,662 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of American Tower by 43.5% during the second quarter. Deutsche Bank AG now owns 6,201,455 shares of the real estate investment trust’s stock worth $1,585,028,000 after purchasing an additional 1,879,086 shares in the last quarter. 91.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft cut their price objective on American Tower from $285.00 to $232.00 and set a “hold” rating for the company in a report on Friday, October 7th. Credit Suisse Group cut their price objective on American Tower to $251.00 in a report on Thursday, October 27th. KeyCorp cut their price objective on American Tower from $264.00 to $252.00 and set an “overweight” rating for the company in a report on Friday, October 28th. Barclays boosted their target price on American Tower from $232.00 to $247.00 and gave the stock an “overweight” rating in a research report on Monday, November 14th. Finally, The Goldman Sachs Group dropped 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. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average price target of $259.40.

American Tower Price Performance

Shares of American Tower stock opened at $218.25 on Thursday. 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 company has a market cap of $101.62 billion, a PE ratio of 34.64, a P/E/G ratio of 2.10 and a beta of 0.53. The business has a 50 day moving average of $210.81 and a 200 day moving average of $240.44. American Tower Co. has a 52 week low of $178.17 and a 52 week high of $294.40.

American Tower Increases Dividend

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

Insider Buying and Selling

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

American Tower Company Profile

(Get Rating)

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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