Valeo Financial Advisors LLC boosted its stake in American Tower Corp (NYSE:AMT) by 12.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,326 shares of the real estate investment trust’s stock after purchasing an additional 150 shares during the quarter. Valeo Financial Advisors LLC’s holdings in American Tower were worth $293,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the business. First Trust Advisors LP grew its position in shares of American Tower by 64.2% during the 1st quarter. First Trust Advisors LP now owns 364,955 shares of the real estate investment trust’s stock worth $71,918,000 after purchasing an additional 142,704 shares in the last quarter. Rehmann Capital Advisory Group grew its position in shares of American Tower by 20.0% during the 1st quarter. Rehmann Capital Advisory Group now owns 1,611 shares of the real estate investment trust’s stock worth $318,000 after purchasing an additional 268 shares in the last quarter. GYL Financial Synergies LLC acquired a new position in shares of American Tower during the 1st quarter worth approximately $220,000. Advisory Services Network LLC grew its position in shares of American Tower by 71.8% during the 1st quarter. Advisory Services Network LLC now owns 9,086 shares of the real estate investment trust’s stock worth $1,790,000 after purchasing an additional 3,797 shares in the last quarter. Finally, M Holdings Securities Inc. acquired a new position in shares of American Tower during the 1st quarter worth approximately $225,000. Institutional investors and hedge funds own 92.56% of the company’s stock.
A number of brokerages have issued reports on AMT. Citigroup increased their target price on shares of American Tower from $236.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Zacks Investment Research upgraded shares of American Tower from a “hold” rating to a “buy” rating and set a $237.00 target price on the stock in a research report on Tuesday, August 20th. KeyCorp increased their target price on shares of American Tower from $225.00 to $253.00 and gave the stock an “overweight” rating in a research report on Monday, August 19th. ValuEngine lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, SunTrust Banks raised their target price on shares of American Tower to $230.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. American Tower currently has a consensus rating of “Hold” and an average target price of $206.87.
In other American Tower news, Director Pamela D. A. Reeve sold 4,167 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $240.80, for a total value of $1,003,413.60. Following the completion of the sale, the director now directly owns 19,139 shares in the company, valued at $4,608,671.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Edmund Disanto sold 31,669 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $226.54, for a total transaction of $7,174,295.26. Following the completion of the sale, the executive vice president now owns 166,730 shares of the company’s stock, valued at $37,771,014.20. The disclosure for this sale can be found here. Insiders sold 199,901 shares of company stock valued at $44,110,977 over the last 90 days. Corporate insiders own 0.75% of the company’s stock.
AMT stock opened at $221.97 on Thursday. The company has a fifty day moving average price of $225.01 and a 200-day moving average price of $210.84. The company has a market capitalization of $99.89 billion, a P/E ratio of 27.78, a PEG ratio of 1.83 and a beta of 0.44. American Tower Corp has a 52-week low of $144.43 and a 52-week high of $242.00. The company has a debt-to-equity ratio of 4.13, a quick ratio of 0.49 and a current ratio of 0.49.
American Tower (NYSE:AMT) last announced its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.91). American Tower had a return on equity of 24.75% and a net margin of 19.30%. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the prior year, the business earned $1.74 EPS. American Tower’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts forecast that American Tower Corp will post 7.67 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Friday, September 27th will be issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 1.71%. This is a boost from American Tower’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Thursday, September 26th. American Tower’s dividend payout ratio (DPR) is presently 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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