Boltwood Capital Management grew its position in American Tower Corp (NYSE:AMT) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,175 shares of the real estate investment trust’s stock after purchasing an additional 100 shares during the period. Boltwood Capital Management’s holdings in American Tower were worth $854,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Canton Hathaway LLC bought a new stake in shares of American Tower during the first quarter worth $26,000. Cable Hill Partners LLC increased its position in shares of American Tower by 61.9% during the first quarter. Cable Hill Partners LLC now owns 136 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 52 shares in the last quarter. Spectrum Management Group Inc. bought a new stake in shares of American Tower during the first quarter worth $29,000. Certified Advisory Corp increased its position in shares of American Tower by 76.9% during the first quarter. Certified Advisory Corp now owns 184 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 80 shares in the last quarter. Finally, Horan Capital Advisors LLC. bought a new stake in shares of American Tower during the first quarter worth $39,000. Institutional investors own 94.43% of the company’s stock.
Shares of AMT traded up $0.10 during midday trading on Tuesday, reaching $206.80. The stock had a trading volume of 974,084 shares, compared to its average volume of 1,771,320. The company’s 50 day simple moving average is $209.89. American Tower Corp has a one year low of $138.51 and a one year high of $218.79. The stock has a market cap of $91.14 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 1.68 and a beta of 0.49. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.50 and a current ratio of 0.50.
American Tower (NYSE:AMT) last announced its quarterly earnings data on Friday, May 3rd. The real estate investment trust reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.04. American Tower had a net margin of 17.95% and a return on equity of 22.61%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the firm posted $0.63 EPS. The company’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, analysts anticipate that American Tower Corp will post 7.52 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Wednesday, June 19th were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Tuesday, June 18th. This is an increase from American Tower’s previous quarterly dividend of $0.90. American Tower’s dividend payout ratio (DPR) is 46.06%.
Several equities research analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Wells Fargo & Co increased their price objective on shares of Sempra Energy from $137.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. UBS Group reissued a “buy” rating on shares of Fortis in a research report on Friday, June 7th. SunTrust Banks reissued a “hold” rating on shares of Tripadvisor in a research report on Monday, May 6th. Finally, KeyCorp increased their price objective on shares of SBA Communications from $215.00 to $252.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. They noted that the move was a valuation call. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. American Tower has a consensus rating of “Hold” and a consensus target price of $188.44.
In other news, CEO James D. Taiclet, Jr. sold 57,439 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $207.93, for a total transaction of $11,943,291.27. Following the completion of the sale, the chief executive officer now owns 255,415 shares in the company, valued at approximately $53,108,440.95. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO James D. Taiclet, Jr. sold 57,438 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $201.40, for a total transaction of $11,568,013.20. Following the sale, the chief executive officer now owns 255,414 shares of the company’s stock, valued at approximately $51,440,379.60. The disclosure for this sale can be found here. In the last three months, insiders sold 248,053 shares of company stock valued at $49,761,568. Insiders own 0.75% of the company’s stock.
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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