&Partners Takes $711,000 Position in American Tower Co. (NYSE:AMT)

&Partners bought a new stake in American Tower Co. (NYSE:AMT) in the first quarter, Holdings Channel.com reports. The institutional investor bought 3,560 shares of the real estate investment trust’s stock, valued at approximately $711,000.

A number of other institutional investors have also added to or reduced their stakes in AMT. LPL Financial LLC increased its position in shares of American Tower by 11.2% during the third quarter. LPL Financial LLC now owns 303,915 shares of the real estate investment trust’s stock worth $49,979,000 after acquiring an additional 30,632 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in American Tower by 4.2% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 47,023 shares of the real estate investment trust’s stock worth $7,733,000 after purchasing an additional 1,884 shares in the last quarter. Stifel Financial Corp raised its stake in shares of American Tower by 2.8% in the third quarter. Stifel Financial Corp now owns 390,837 shares of the real estate investment trust’s stock worth $64,284,000 after purchasing an additional 10,767 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of American Tower by 1,038.9% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 17,744 shares of the real estate investment trust’s stock valued at $2,918,000 after purchasing an additional 16,186 shares in the last quarter. Finally, Personal CFO Solutions LLC boosted its position in shares of American Tower by 7.6% during the third quarter. Personal CFO Solutions LLC now owns 1,505 shares of the real estate investment trust’s stock valued at $248,000 after buying an additional 106 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at American Tower

In related news, EVP Sanjay Goel sold 3,504 shares of American Tower 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 completion of the sale, the executive vice president now owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Sanjay Goel sold 3,504 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total value of $702,061.44. Following the sale, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert D. Hormats sold 700 shares of the business’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 completion of the transaction, 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.

American Tower Price Performance

American Tower stock opened at $194.85 on Monday. The firm has a market capitalization of $90.99 billion, a P/E ratio of 44.08, a PEG ratio of 1.38 and a beta of 0.79. American Tower Co. has a one year low of $154.58 and a one year high of $219.10. 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 business has a fifty day moving average price of $186.08 and a 200-day moving average price of $195.43.

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

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 14th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.33%. American Tower’s dividend payout ratio (DPR) is currently 146.61%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AMT. Morgan Stanley raised their price objective on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Scotiabank reduced their price objective on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research report on Wednesday, May 1st. BMO Capital Markets reduced their price objective on American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $226.00 to $248.00 in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. reduced their price target on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus price target of $220.91.

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