Northwestern Mutual Wealth Management Co. boosted its stake in American Tower Corp (NYSE:AMT) by 0.7% in the 1st quarter, Holdings Channel reports. The firm owned 34,947 shares of the real estate investment trust’s stock after purchasing an additional 243 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in American Tower were worth $7,610,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of AMT. Assenagon Asset Management S.A. acquired a new stake in American Tower in the 4th quarter valued at approximately $383,000. Capital Investment Advisors LLC increased its holdings in American Tower by 5.7% in the 4th quarter. Capital Investment Advisors LLC now owns 1,785 shares of the real estate investment trust’s stock valued at $410,000 after purchasing an additional 97 shares during the last quarter. NEXT Financial Group Inc increased its holdings in American Tower by 14.8% in the 4th quarter. NEXT Financial Group Inc now owns 3,116 shares of the real estate investment trust’s stock valued at $717,000 after purchasing an additional 402 shares during the last quarter. RFG Advisory LLC acquired a new stake in American Tower in the 4th quarter valued at approximately $290,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of American Tower by 105.6% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,278 shares of the real estate investment trust’s stock worth $524,000 after acquiring an additional 1,170 shares in the last quarter. Hedge funds and other institutional investors own 91.73% of the company’s stock.
AMT stock opened at $242.43 on Friday. The company has a debt-to-equity ratio of 6.91, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a market capitalization of $101.14 billion, a PE ratio of 56.78, a P/E/G ratio of 1.94 and a beta of 0.44. The company’s 50 day simple moving average is $239.56 and its 200-day simple moving average is $229.48. American Tower Corp has a 12 month low of $174.32 and a 12 month high of $260.43.
American Tower (NYSE:AMT) last announced its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.12). The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. American Tower had a net margin of 24.55% and a return on equity of 35.63%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.84 EPS. As a group, sell-side analysts anticipate that American Tower Corp will post 8 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 19th will be paid a dividend of $1.10 per share. This is an increase from American Tower’s previous quarterly dividend of $1.08. The ex-dividend date is Thursday, June 18th. This represents a $4.40 annualized dividend and a dividend yield of 1.81%. American Tower’s dividend payout ratio is presently 55.89%.
Several research firms have commented on AMT. Morgan Stanley boosted their price target on shares of American Tower from $218.00 to $245.00 and gave the stock an “equal weight” rating in a research note on Monday, April 27th. New Street Research upgraded shares of American Tower from a “neutral” rating to a “buy” rating in a research note on Thursday, March 12th. Credit Suisse Group initiated coverage on shares of American Tower in a research note on Tuesday, April 28th. They set an “outperform” rating and a $308.00 target price for the company. Wells Fargo & Co boosted their price target on shares of American Tower from $265.00 to $272.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Raymond James raised shares of American Tower from a “market perform” rating to an “outperform” rating and set a $211.00 target price for the company in a report on Thursday, March 26th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. American Tower presently has a consensus rating of “Buy” and a consensus price target of $257.38.
In other American Tower news, Director David E. Sharbutt sold 2,200 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $243.60, for a total transaction of $535,920.00. Following the transaction, the director now owns 4,097 shares of the company’s stock, valued at $998,029.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Robert Joseph Meyer, Jr. sold 6,439 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $238.11, for a total transaction of $1,533,190.29. Following the transaction, the chief accounting officer now directly owns 37,120 shares in the company, valued at approximately $8,838,643.20. The disclosure for this sale can be found here. Insiders have sold 14,392 shares of company stock worth $3,343,752 in the last three months. Insiders own 0.65% of the company’s stock.
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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