WFA of San Diego LLC Invests $767,000 in American Tower Corp (NYSE:AMT)

WFA of San Diego LLC purchased a new stake in shares of American Tower Corp (NYSE:AMT) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 3,258 shares of the real estate investment trust’s stock, valued at approximately $767,000.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. boosted its position in American Tower by 5.2% in the 2nd quarter. BlackRock Inc. now owns 32,875,452 shares of the real estate investment trust’s stock valued at $8,499,618,000 after buying an additional 1,636,978 shares during the period. Cohen & Steers Inc. boosted its position in American Tower by 10.6% in the 1st quarter. Cohen & Steers Inc. now owns 9,985,028 shares of the real estate investment trust’s stock valued at $2,174,240,000 after buying an additional 953,901 shares during the period. Edgewood Management LLC lifted its position in shares of American Tower by 1.6% in the 1st quarter. Edgewood Management LLC now owns 8,701,999 shares of the real estate investment trust’s stock worth $1,894,860,000 after purchasing an additional 139,173 shares during the period. Capital International Investors lifted its position in shares of American Tower by 5.3% in the 1st quarter. Capital International Investors now owns 6,205,812 shares of the real estate investment trust’s stock worth $1,351,322,000 after purchasing an additional 312,957 shares during the period. Finally, Deutsche Bank AG lifted its position in shares of American Tower by 7.3% in the 1st quarter. Deutsche Bank AG now owns 4,719,131 shares of the real estate investment trust’s stock worth $1,027,589,000 after purchasing an additional 322,690 shares during the period. Institutional investors own 90.60% of the company’s stock.

In related news, EVP Steven O. Vondran sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $248.44, for a total transaction of $372,660.00. Following the completion of the sale, the executive vice president now directly owns 23,724 shares in the company, valued at $5,893,990.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Olivier Puech sold 415 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $266.70, for a total transaction of $110,680.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,715 shares of company stock worth $2,269,703. Insiders own 0.65% of the company’s stock.

Several equities research analysts have recently weighed in on AMT shares. Morgan Stanley upped their price target on shares of American Tower from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Credit Suisse Group reaffirmed a “buy” rating and issued a $300.00 price target on shares of American Tower in a research report on Friday, July 31st. Deutsche Bank started coverage on shares of American Tower in a research report on Friday, June 5th. They issued a “buy” rating and a $287.00 price target for the company. Oppenheimer initiated coverage on shares of American Tower in a research report on Tuesday, August 11th. They issued a “buy” rating and a $290.00 price target for the company. Finally, Wells Fargo & Company decreased their target price on shares of American Tower from $290.00 to $285.00 and set an “overweight” rating for the company in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $272.69.

NYSE AMT traded down $0.01 during mid-day trading on Wednesday, reaching $263.74. 113,594 shares of the stock were exchanged, compared to its average volume of 1,381,176. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market capitalization of $116.99 billion, a P/E ratio of 61.54, a P/E/G ratio of 2.21 and a beta of 0.38. American Tower Corp has a 1 year low of $174.32 and a 1 year high of $272.20. The business’s 50 day moving average is $252.74 and its 200-day moving average is $246.67.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $1.00 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.99 by ($0.99). The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.95 billion. American Tower had a return on equity of 39.62% and a net margin of 24.70%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.01 earnings per share. Equities analysts predict that American Tower Corp will post 8 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Monday, September 28th will be paid a $1.14 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.10. This represents a $4.56 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Friday, September 25th. American Tower’s dividend payout ratio (DPR) is currently 56.92%.

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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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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