Bartlett & Co. LLC increased its stake in shares of American Tower Corp (NYSE:AMT) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 135,242 shares of the real estate investment trust’s stock after acquiring an additional 1,720 shares during the period. Bartlett & Co. LLC’s holdings in American Tower were worth $19,651,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of AMT. Mount Yale Investment Advisors LLC grew its position in shares of American Tower by 354.4% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 718 shares of the real estate investment trust’s stock valued at $104,000 after acquiring an additional 560 shares during the period. Kaizen Advisory LLC grew its position in shares of American Tower by 140.6% in the 2nd quarter. Kaizen Advisory LLC now owns 1,008 shares of the real estate investment trust’s stock valued at $145,000 after acquiring an additional 589 shares during the period. Valeo Financial Advisors LLC grew its position in shares of American Tower by 75.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,029 shares of the real estate investment trust’s stock valued at $153,000 after acquiring an additional 441 shares during the period. RMR Advisors LLC bought a new position in shares of American Tower in the 2nd quarter valued at about $173,000. Finally, Sun Life Financial INC grew its position in shares of American Tower by 311.3% in the 2nd quarter. Sun Life Financial INC now owns 1,197 shares of the real estate investment trust’s stock valued at $173,000 after acquiring an additional 906 shares during the period. Institutional investors and hedge funds own 93.24% of the company’s stock.
AMT has been the subject of a number of analyst reports. Argus lifted their price objective on shares of American Tower from $154.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, August 20th. Morgan Stanley lifted their target price on shares of American Tower from $154.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, August 16th. ValuEngine raised shares of American Tower from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. SunTrust Banks reaffirmed a “buy” rating and set a $167.00 target price on shares of American Tower in a report on Friday, July 20th. Finally, Guggenheim downgraded shares of American Tower from a “buy” rating to a “neutral” rating and set a $135.00 target price for the company. in a report on Monday, July 16th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. American Tower currently has a consensus rating of “Buy” and an average price target of $164.20.
Shares of American Tower stock opened at $156.16 on Wednesday. The stock has a market capitalization of $67.03 billion, a price-to-earnings ratio of 24.48, a price-to-earnings-growth ratio of 1.47 and a beta of 0.59. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 3.11. American Tower Corp has a twelve month low of $130.37 and a twelve month high of $161.71.
American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 30th. The real estate investment trust reported $0.83 EPS for the quarter, beating the consensus estimate of $0.81 by $0.02. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.76 billion. American Tower had a net margin of 17.07% and a return on equity of 18.55%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.73 EPS. As a group, equities research analysts expect that American Tower Corp will post 7.58 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 17th. Stockholders of record on Friday, September 28th were given a $0.79 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This is a boost from American Tower’s previous quarterly dividend of $0.77. This represents a $3.16 annualized dividend and a dividend yield of 2.02%. American Tower’s payout ratio is presently 49.53%.
In related news, Director Pamela D. A. Reeve sold 7,152 shares of American Tower stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $148.92, for a total transaction of $1,065,075.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Edmund Disanto sold 13,000 shares of American Tower stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $146.78, for a total transaction of $1,908,140.00. Following the sale, the executive vice president now directly owns 160,021 shares in the company, valued at $23,487,882.38. The disclosure for this sale can be found here. Insiders sold a total of 183,318 shares of company stock valued at $28,567,435 over the last 90 days. Corporate 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.
Further Reading: Stock Symbols, CUSIP and Other Stock Identifiers
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