Madison Wealth Management grew its holdings in shares of American Tower Co. (REIT) (NYSE:AMT) by 11.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,482 shares of the real estate investment trust’s stock after acquiring an additional 761 shares during the period. Madison Wealth Management’s holdings in American Tower were worth $2,021,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the company. Cohen & Steers Inc. boosted its position in shares of American Tower by 6.3% during the 1st quarter. Cohen & Steers Inc. now owns 8,164,876 shares of the real estate investment trust’s stock valued at $1,951,846,000 after purchasing an additional 487,466 shares in the last quarter. Geode Capital Management LLC lifted its stake in American Tower by 1.9% in the first quarter. Geode Capital Management LLC now owns 8,038,728 shares of the real estate investment trust’s stock valued at $1,917,477,000 after buying an additional 147,445 shares during the period. Northern Trust Corp boosted its holdings in shares of American Tower by 0.8% during the 1st quarter. Northern Trust Corp now owns 6,775,520 shares of the real estate investment trust’s stock worth $1,619,757,000 after buying an additional 54,375 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of American Tower by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,206,796 shares of the real estate investment trust’s stock worth $1,483,787,000 after buying an additional 91,490 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of American Tower by 11.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,545,109 shares of the real estate investment trust’s stock valued at $1,325,614,000 after acquiring an additional 574,936 shares in the last quarter. 89.57% of the stock is owned by hedge funds and other institutional investors.
AMT has been the subject of a number of research reports. Argus raised their price target on shares of American Tower from $288.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, August 12th. Wells Fargo & Company raised their target price on American Tower from $280.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, July 16th. Oppenheimer downgraded American Tower from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $305.00 to $300.00 in a research note on Friday, September 10th. Deutsche Bank Aktiengesellschaft raised their price objective on American Tower from $250.00 to $295.00 and gave the company a “hold” rating in a research note on Thursday, July 8th. They noted that the move was a valuation call. Finally, Morgan Stanley increased their target price on American Tower from $270.00 to $316.00 and gave the stock an “equal weight” rating in a report on Friday, September 10th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $298.29.
American Tower stock traded down $4.53 during midday trading on Tuesday, hitting $269.57. 40,085 shares of the stock were exchanged, compared to its average volume of 1,850,105. American Tower Co. has a 52-week low of $197.50 and a 52-week high of $303.72. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 4.83. The business’s 50-day moving average price is $288.07 and its 200-day moving average price is $265.89. The stock has a market capitalization of $122.69 billion, a price-to-earnings ratio of 55.26, a price-to-earnings-growth ratio of 2.07 and a beta of 0.24.
American Tower (NYSE:AMT) last announced its earnings results on Wednesday, July 28th. The real estate investment trust reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.62). American Tower had a return on equity of 44.60% and a net margin of 25.84%. On average, sell-side analysts predict that American Tower Co. will post 9.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Tuesday, September 28th will be paid a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Monday, September 27th. This is an increase from American Tower’s previous quarterly dividend of $1.27. American Tower’s dividend payout ratio is 60.19%.
American Tower Profile
American Tower Corp. provides real estate investment services, and owns, operates, and develops multitenant communications real estate properties. It operates through the following segments: U.S. & Canada, Asia-Pacific, Europe, Africa Latin America, and Services. The Asia-Pacific segment refers to the operations in Australia and India.
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