Radnor Capital Management LLC Makes New $476,000 Investment in American Tower Co. (NYSE:AMT)

Radnor Capital Management LLC bought a new position in American Tower Co. (NYSE:AMT) during the 1st quarter, Holdings Channel.com reports. The fund bought 2,408 shares of the real estate investment trust’s stock, valued at approximately $476,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of American Tower by 0.3% in the third quarter. Vanguard Group Inc. now owns 60,930,583 shares of the real estate investment trust’s stock worth $10,020,034,000 after purchasing an additional 196,942 shares during the last quarter. Cohen & Steers Inc. increased its stake in American Tower by 3.7% in the 4th quarter. Cohen & Steers Inc. now owns 16,440,715 shares of the real estate investment trust’s stock worth $3,549,366,000 after acquiring an additional 583,892 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of American Tower by 21.9% during the 4th quarter. Wellington Management Group LLP now owns 15,823,622 shares of the real estate investment trust’s stock worth $3,416,004,000 after acquiring an additional 2,839,570 shares in the last quarter. Morgan Stanley boosted its position in shares of American Tower by 3.7% during the 3rd quarter. Morgan Stanley now owns 7,269,957 shares of the real estate investment trust’s stock valued at $1,195,545,000 after acquiring an additional 258,030 shares during the last quarter. Finally, Akre Capital Management LLC increased its position in American Tower by 0.5% in the fourth quarter. Akre Capital Management LLC now owns 6,804,599 shares of the real estate investment trust’s stock worth $1,468,977,000 after purchasing an additional 36,375 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Performance

Shares of NYSE:AMT opened at $194.85 on Monday. American Tower Co. has a one year low of $154.58 and a one year high of $219.10. The firm has a market cap of $90.99 billion, a PE ratio of 44.08, a price-to-earnings-growth ratio of 1.38 and a beta of 0.79. The firm’s 50 day simple moving average is $186.08 and its 200-day simple moving average is $195.43. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.85 and a current ratio of 0.85.

American Tower (NYSE:AMT) last issued 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 net margin of 18.42% and a return on equity of 18.45%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $2.54 earnings per share. As a group, equities analysts predict that American Tower Co. will post 10.03 EPS for the current year.

American Tower Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on AMT. JPMorgan Chase & Co. dropped their price objective on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Barclays reduced their price objective on American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $226.00 to $248.00 in a research report on Wednesday, May 1st. Finally, Scotiabank cut their price objective on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus target price of $220.91.

Insider Activity

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

About American Tower

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.