Collective Family Office LLC Invests $205,000 in American Tower Co. (NYSE:AMT)

Collective Family Office LLC acquired a new stake in American Tower Co. (NYSE:AMT) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,040 shares of the real estate investment trust’s stock, valued at approximately $205,000.

Other hedge funds have also added to or reduced their stakes in the company. Gold Investment Management Ltd. bought a new stake in shares of American Tower in the fourth quarter worth about $28,000. Thompson Investment Management Inc. bought a new stake in American Tower during the 4th quarter worth approximately $29,000. Private Wealth Management Group LLC acquired a new stake in American Tower during the 4th quarter worth approximately $31,000. Brown Shipley& Co Ltd bought a new position in American Tower in the third quarter valued at approximately $35,000. Finally, Valley National Advisers Inc. boosted its holdings in shares of American Tower by 200.0% in the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 118 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 0.7 %

Shares of American Tower stock opened at $194.16 on Friday. The business has a fifty day simple moving average of $185.77 and a two-hundred day simple moving average of $195.73. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $90.67 billion, a price-to-earnings ratio of 43.93, a P/E/G ratio of 1.37 and a beta of 0.79. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $219.10.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. American Tower had a return on equity of 18.45% and a net margin of 18.42%. American Tower’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $2.54 EPS. Research analysts forecast that American Tower Co. will post 10.03 EPS for the current year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 14th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Friday, June 14th. American Tower’s dividend payout ratio (DPR) is 146.61%.

Insider Buying and Selling at American Tower

In other American Tower news, EVP Sanjay Goel sold 3,504 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the transaction, the executive vice president now owns 28,413 shares in the company, valued at approximately $5,692,828.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other American Tower news, EVP Sanjay Goel sold 3,504 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total value of $702,061.44. Following the transaction, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the sale, the director now directly owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the topic of several research reports. Raymond James raised shares of American Tower from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $226.00 to $248.00 in a research report on Wednesday, May 1st. BMO Capital Markets cut their price target on American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. JPMorgan Chase & Co. dropped their target price on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Finally, Morgan Stanley lifted their price objective on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average price target of $220.91.

American Tower 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 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.