Murphy Capital Management Inc. Decreases Stake in American Tower Corp (NYSE:AMT)

Murphy Capital Management Inc. reduced its stake in shares of American Tower Corp (NYSE:AMT) by 5.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,600 shares of the real estate investment trust’s stock after selling 100 shares during the period. Murphy Capital Management Inc.’s holdings in American Tower were worth $353,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of AMT. Nelson Roberts Investment Advisors LLC purchased a new stake in shares of American Tower in the 2nd quarter worth about $27,000. Next Capital Management LLC purchased a new stake in shares of American Tower in the 2nd quarter worth about $31,000. NewSquare Capital LLC boosted its position in shares of American Tower by 192.3% in the 2nd quarter. NewSquare Capital LLC now owns 152 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 100 shares in the last quarter. CX Institutional boosted its position 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 worth $32,000 after buying an additional 56 shares in the last quarter. Finally, Litman Gregory Asset Management LLC purchased a new stake in shares of American Tower in the 2nd quarter worth about $33,000. Institutional investors own 92.50% of the company’s stock.

AMT has been the topic of several recent research reports. Morgan Stanley boosted their price objective on shares of American Tower from $201.00 to $216.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 19th. Citigroup boosted their target price on shares of American Tower from $236.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. ValuEngine downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. SunTrust Banks boosted their target price on shares of American Tower to $230.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of American Tower from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. American Tower presently has a consensus rating of “Hold” and an average price target of $206.87.

NYSE AMT opened at $224.45 on Friday. The stock has a market cap of $99.36 billion, a PE ratio of 28.09, a P/E/G ratio of 1.84 and a beta of 0.44. American Tower Corp has a fifty-two week low of $140.82 and a fifty-two week high of $242.00. The business has a 50 day moving average price of $225.40 and a two-hundred day moving average price of $210.11. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 4.13.

American Tower (NYSE:AMT) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.87 by ($0.91). The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.83 billion. American Tower had a return on equity of 24.75% and a net margin of 19.30%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.74 EPS. Sell-side analysts anticipate that American Tower Corp will post 7.67 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Friday, September 27th will be issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Thursday, September 26th. This is a boost from American Tower’s previous quarterly dividend of $0.92. American Tower’s dividend payout ratio is currently 47.56%.

In other news, EVP Edmund Disanto sold 31,669 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $226.54, for a total transaction of $7,174,295.26. Following the completion of the transaction, the executive vice president now directly owns 166,730 shares in the company, valued at approximately $37,771,014.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David E. Sharbutt sold 2,039 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $217.59, for a total value of $443,666.01. Following the transaction, the director now owns 3,936 shares of the company’s stock, valued at $856,434.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 200,001 shares of company stock valued at $44,132,010. 0.75% of the stock is owned by company 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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