Accurate Investment Solutions Inc. lifted its position in American Tower Corp (NYSE:AMT) by 21.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 292 shares of the real estate investment trust’s stock after buying an additional 51 shares during the quarter. Accurate Investment Solutions Inc.’s holdings in American Tower were worth $67,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Arjuna Capital grew its stake in American Tower by 1.2% in the second quarter. Arjuna Capital now owns 5,598 shares of the real estate investment trust’s stock worth $1,145,000 after purchasing an additional 66 shares during the period. Keudell Morrison Wealth Management bought a new stake in shares of American Tower in the 2nd quarter worth approximately $1,987,000. Natixis grew its stake in shares of American Tower by 24.5% in the second quarter. Natixis now owns 5,844 shares of the real estate investment trust’s stock worth $1,195,000 after acquiring an additional 1,151 shares during the last quarter. MML Investors Services LLC grew its stake in shares of American Tower by 11.7% in the second quarter. MML Investors Services LLC now owns 17,149 shares of the real estate investment trust’s stock worth $3,506,000 after acquiring an additional 1,790 shares during the last quarter. Finally, Beck Mack & Oliver LLC increased its holdings in shares of American Tower by 6.0% during the second quarter. Beck Mack & Oliver LLC now owns 1,109 shares of the real estate investment trust’s stock valued at $227,000 after acquiring an additional 63 shares in the last quarter. 91.63% of the stock is owned by institutional investors.
In other news, SVP Robert Joseph Meyer, Jr. sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $206.78, for a total transaction of $206,780.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Steven O. Vondran sold 1,261 shares of American Tower stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $229.68, for a total value of $289,626.48. Following the sale, the executive vice president now directly owns 28,705 shares of the company’s stock, valued at approximately $6,592,964.40. The disclosure for this sale can be found here. Insiders have sold a total of 5,574 shares of company stock worth $1,250,626 over the last ninety days. 0.75% of the stock is currently owned by corporate insiders.
NYSE AMT opened at $235.38 on Thursday. American Tower Corp has a one year low of $162.83 and a one year high of $242.00. The company has a debt-to-equity ratio of 4.40, a quick ratio of 0.53 and a current ratio of 0.53. The stock has a 50 day moving average price of $221.85 and a 200-day moving average price of $218.83. The company has a market capitalization of $103.63 billion, a P/E ratio of 29.46, a P/E/G ratio of 1.51 and a beta of 0.41.
American Tower (NYSE:AMT) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.17. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.88 billion. American Tower had a return on equity of 27.12% and a net margin of 20.58%. American Tower’s revenue was up 9.5% on a year-over-year basis. During the same period last year, the company earned $1.85 earnings per share. As a group, equities analysts predict that American Tower Corp will post 7.64 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Friday, December 27th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.72%. This is an increase from American Tower’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Thursday, December 26th. American Tower’s dividend payout ratio (DPR) is 50.56%.
Several brokerages recently commented on AMT. Goldman Sachs Group raised shares of American Tower from a “neutral” rating to a “buy” rating and increased their price objective for the company from $204.00 to $270.00 in a research report on Monday. Morgan Stanley reiterated a “hold” rating and set a $218.00 price target (up previously from $216.00) on shares of American Tower in a report on Friday, November 22nd. ValuEngine cut American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. KeyCorp boosted their price target on American Tower from $242.00 to $254.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. Finally, Cowen increased their price objective on American Tower from $238.00 to $260.00 and gave the company an “in-line” rating in a research report on Friday, November 1st. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $224.36.
American Tower Company Profile
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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