Heritage Investors Management Corp raised its position in American Tower Corp (NYSE:AMT) by 7.2% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 61,176 shares of the real estate investment trust’s stock after buying an additional 4,114 shares during the period. Heritage Investors Management Corp’s holdings in American Tower were worth $8,889,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in AMT. Principal Financial Group Inc. boosted its position in American Tower by 12.6% in the 1st quarter. Principal Financial Group Inc. now owns 3,595,781 shares of the real estate investment trust’s stock valued at $522,610,000 after buying an additional 402,859 shares during the last quarter. Fulton Bank N.A. bought a new position in American Tower in the 2nd quarter valued at $203,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in American Tower by 21.6% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 7,884 shares of the real estate investment trust’s stock valued at $1,137,000 after buying an additional 1,400 shares during the last quarter. Xact Kapitalforvaltning AB boosted its position in American Tower by 5.1% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 77,940 shares of the real estate investment trust’s stock valued at $11,237,000 after buying an additional 3,813 shares during the last quarter. Finally, BLB&B Advisors LLC boosted its position in American Tower by 10.6% in the 2nd quarter. BLB&B Advisors LLC now owns 9,886 shares of the real estate investment trust’s stock valued at $1,425,000 after buying an additional 947 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.
AMT has been the topic of several research analyst reports. Argus raised their price objective on American Tower from $154.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, August 20th. Guggenheim reaffirmed a “hold” rating and set a $160.00 price objective on shares of American Tower in a research note on Tuesday, August 7th. ValuEngine raised American Tower from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Deutsche Bank downgraded American Tower from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $169.00 to $167.00 in a research note on Thursday, November 1st. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded American Tower from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $164.20.
AMT opened at $159.36 on Friday. American Tower Corp has a 1 year low of $130.37 and a 1 year high of $161.71. The stock has a market capitalization of $68.84 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 1.51 and a beta of 0.59. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.72 and a current ratio of 0.72.
American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. American Tower had a return on equity of 18.55% and a net margin of 17.07%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the business posted $1.73 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, analysts expect that American Tower Corp will post 7.58 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 17th. Shareholders of record on Friday, September 28th were paid a $0.79 dividend. This is an increase from American Tower’s previous quarterly dividend of $0.77. The ex-dividend date was Thursday, September 27th. This represents a $3.16 annualized dividend and a dividend yield of 1.98%. American Tower’s dividend payout ratio (DPR) is currently 49.53%.
In other news, EVP Edmund Disanto sold 13,000 shares of the firm’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $146.78, for a total value of $1,908,140.00. Following the completion of the transaction, the executive vice president now owns 160,021 shares in the company, valued at approximately $23,487,882.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven C. Marshall sold 163,166 shares of the firm’s stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $156.86, for a total value of $25,594,218.76. The disclosure for this sale can be found here. Insiders sold a total of 228,277 shares of company stock worth $35,600,371 in the last three months. Company insiders own 0.87% of the company’s stock.
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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 170,000 communications sites.
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