GW&K Investment Management LLC decreased its position in American Tower Corp (NYSE:AMT) by 1.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 291,759 shares of the real estate investment trust’s stock after selling 5,153 shares during the period. American Tower comprises about 0.9% of GW&K Investment Management LLC’s investment portfolio, making the stock its 17th biggest holding. GW&K Investment Management LLC owned 0.07% of American Tower worth $64,517,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Northwest Investment Counselors LLC purchased a new stake in American Tower in the 3rd quarter worth approximately $25,000. Nelson Roberts Investment Advisors LLC purchased a new stake in American Tower in the 2nd quarter worth approximately $27,000. Next Capital Management LLC purchased a new stake in American Tower in the 2nd quarter worth approximately $31,000. NewSquare Capital LLC lifted its position in American Tower by 192.3% in the 2nd quarter. NewSquare Capital LLC now owns 152 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 100 shares in the last quarter. Finally, CX Institutional lifted its position in American Tower by 54.9% in the 2nd quarter. CX Institutional now owns 158 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 56 shares in the last quarter. 92.54% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on the stock. SunTrust Banks increased their target price on shares of American Tower to $230.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley increased their target price on shares of American Tower from $201.00 to $216.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 19th. Zacks Investment Research upgraded shares of American Tower from a “hold” rating to a “buy” rating and set a $237.00 target price for the company in a research report on Tuesday, August 20th. KeyCorp set a $242.00 target price on shares of American Tower and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Cowen raised their price target on shares of American Tower from $238.00 to $260.00 and gave the company an “in-line” rating in a report on Friday, November 1st. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $215.79.
In related news, EVP Edmund Disanto sold 63,686 shares of American Tower stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $221.06, for a total value of $14,078,427.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Robert Joseph Meyer, Jr. sold 1,000 shares of American Tower stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $206.78, for a total transaction of $206,780.00. The disclosure for this sale can be found here. Insiders sold a total of 141,524 shares of company stock worth $31,726,127 in the last quarter. Insiders own 0.75% of the company’s stock.
Shares of American Tower stock traded up $0.18 during midday trading on Friday, reaching $205.87. 1,799,862 shares of the company’s stock traded hands, compared to its average volume of 1,770,815. The company has a market cap of $91.20 billion, a price-to-earnings ratio of 25.77, a price-to-earnings-growth ratio of 1.65 and a beta of 0.43. The company’s 50 day simple moving average is $220.99 and its 200 day simple moving average is $213.42. The company has a debt-to-equity ratio of 4.40, a quick ratio of 0.53 and a current ratio of 0.53. American Tower Corp has a 52 week low of $150.66 and a 52 week high of $242.00.
American Tower (NYSE:AMT) last released its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.17. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.88 billion. American Tower had a net margin of 20.58% and a return on equity of 27.12%. American Tower’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.85 EPS. As a group, equities research analysts predict that American Tower Corp will post 7.65 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Friday, September 27th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Thursday, September 26th. This is an increase from American Tower’s previous quarterly dividend of $0.92. American Tower’s dividend payout ratio (DPR) is 47.56%.
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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