LVM Capital Management Ltd. MI lifted its position in shares of American Tower Corp (NYSE:AMT) by 11.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,741 shares of the real estate investment trust’s stock after purchasing an additional 5,986 shares during the quarter. American Tower makes up about 1.9% of LVM Capital Management Ltd. MI’s investment portfolio, making the stock its 21st largest position. LVM Capital Management Ltd. MI’s holdings in American Tower were worth $8,238,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of AMT. Atlantic Trust LLC raised its position in shares of American Tower by 0.5% during the second quarter. Atlantic Trust LLC now owns 4,345 shares of the real estate investment trust’s stock worth $575,000 after acquiring an additional 21 shares during the last quarter. Courier Capital LLC grew its stake in shares of American Tower by 4.9% during the second quarter. Courier Capital LLC now owns 2,033 shares of the real estate investment trust’s stock worth $269,000 after purchasing an additional 95 shares during the period. Keel Point LLC grew its stake in shares of American Tower by 1.1% during the second quarter. Keel Point LLC now owns 8,711 shares of the real estate investment trust’s stock worth $1,153,000 after purchasing an additional 98 shares during the period. Millie Capital Management LLC grew its stake in shares of American Tower by 0.7% during the second quarter. Millie Capital Management LLC now owns 19,932 shares of the real estate investment trust’s stock worth $2,637,000 after purchasing an additional 138 shares during the period. Finally, Veritable L.P. grew its stake in shares of American Tower by 0.8% during the second quarter. Veritable L.P. now owns 17,740 shares of the real estate investment trust’s stock worth $2,347,000 after purchasing an additional 140 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.
In other news, Director David E. Sharbutt sold 1,584 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $144.44, for a total transaction of $228,792.96. Following the completion of the transaction, the director now directly owns 4,861 shares in the company, valued at approximately $702,122.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Samme L. Thompson sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $143.16, for a total transaction of $715,800.00. The disclosure for this sale can be found here. Insiders sold a total of 75,251 shares of company stock worth $11,026,134 in the last ninety days. 0.86% of the stock is currently owned by insiders.
Several analysts recently issued reports on AMT shares. Zacks Investment Research upgraded American Tower from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a report on Friday, November 3rd. KeyCorp set a $156.00 target price on American Tower and gave the company an “overweight” rating in a research report on Wednesday, November 1st. Morgan Stanley reissued an “overweight” rating and set a $172.00 price target on shares of American Tower in a research report on Wednesday, December 13th. Oppenheimer increased their price target on American Tower from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, December 20th. Finally, ValuEngine cut American Tower from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $158.60.
American Tower Corp (AMT) traded up $1.01 during trading on Thursday, hitting $136.64. 1,999,700 shares of the company’s stock traded hands, compared to its average volume of 2,357,227. American Tower Corp has a 1 year low of $102.73 and a 1 year high of $155.28. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market cap of $58,600.00, a PE ratio of 51.95, a P/E/G ratio of 1.41 and a beta of 0.73.
American Tower (NYSE:AMT) last posted its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.61 by ($0.92). American Tower had a return on equity of 16.98% and a net margin of 18.63%. sell-side analysts expect that American Tower Corp will post 6.53 EPS for the current fiscal year.
American Tower declared that its Board of Directors has initiated a stock repurchase program on Thursday, December 7th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Thursday, December 28th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Wednesday, December 27th. This is a boost from American Tower’s previous quarterly dividend of $0.66. American Tower’s payout ratio is 106.46%.
About American Tower
American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.
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