Personal Capital Advisors Corp grew its stake in shares of American Tower Co. (NYSE:AMT) by 11.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 218,013 shares of the real estate investment trust’s stock after acquiring an additional 21,935 shares during the quarter. Personal Capital Advisors Corp’s holdings in American Tower were worth $31,686,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of AMT. Pinebridge Investments L.P. bought a new position in shares of American Tower during the fourth quarter valued at $182,000. Signaturefd LLC bought a new position in shares of American Tower during the first quarter valued at $182,000. Centaurus Financial Inc. bought a new position in shares of American Tower during the first quarter valued at $197,000. SNS Financial Group LLC bought a new position in shares of American Tower during the fourth quarter valued at $201,000. Finally, Resources Investment Advisors Inc. increased its holdings in shares of American Tower by 51.1% during the fourth quarter. Resources Investment Advisors Inc. now owns 1,428 shares of the real estate investment trust’s stock valued at $203,000 after acquiring an additional 483 shares in the last quarter. Hedge funds and other institutional investors own 92.22% of the company’s stock.
Several equities analysts have recently weighed in on AMT shares. Citigroup reduced their price target on American Tower from $169.00 to $162.00 and set a “buy” rating for the company in a report on Monday, March 5th. KeyCorp set a $171.00 price target on American Tower and gave the company a “buy” rating in a report on Tuesday, February 27th. Zacks Investment Research upgraded American Tower from a “sell” rating to a “hold” rating in a report on Tuesday, April 3rd. ValuEngine downgraded American Tower from a “buy” rating to a “hold” rating in a report on Friday, April 27th. Finally, Morgan Stanley reduced their price target on American Tower from $161.00 to $157.00 and set an “overweight” rating for the company in a report on Friday, March 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $160.38.
In other American Tower news, EVP William H. Hess sold 28,291 shares of the business’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $145.28, for a total transaction of $4,110,116.48. Following the completion of the sale, the executive vice president now directly owns 92,721 shares in the company, valued at approximately $13,470,506.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Samme L. Thompson sold 3,500 shares of the business’s stock in a transaction dated Tuesday, March 20th. The shares were sold at an average price of $146.36, for a total value of $512,260.00. Following the sale, the director now owns 22,125 shares of the company’s stock, valued at $3,238,215. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,579 shares of company stock valued at $9,319,595. Corporate insiders own 0.87% of the company’s stock.
American Tower opened at $137.38 on Tuesday, according to MarketBeat. American Tower Co. has a one year low of $125.24 and a one year high of $155.28. The stock has a market capitalization of $60.53 billion, a P/E ratio of 21.53, a price-to-earnings-growth ratio of 1.55 and a beta of 0.77. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 2.68.
American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, May 1st. The real estate investment trust reported $0.63 EPS for the quarter, missing the consensus estimate of $1.68 by ($1.05). American Tower had a return on equity of 17.03% and a net margin of 17.51%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the business posted $1.68 earnings per share. American Tower’s quarterly revenue was up 7.8% compared to the same quarter last year. sell-side analysts expect that American Tower Co. will post 7.05 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, April 27th. Shareholders of record on Wednesday, April 11th were paid a dividend of $0.75 per share. This is an increase from American Tower’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Tuesday, April 10th. American Tower’s payout ratio is currently 47.02%.
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 over 150,000 communications sites. For more information about American Tower, please visit the ?Earnings Materials? and ?Company & Industry Resources? sections of our investor relations website at www.americantower.com.
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