Key Client Fiduciary Advisors LLC Buys 115 Shares of American Tower Co. (NYSE:AMT)

Key Client Fiduciary Advisors LLC raised its holdings in shares of American Tower Co. (NYSE:AMT) by 10.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,179 shares of the real estate investment trust’s stock after acquiring an additional 115 shares during the period. Key Client Fiduciary Advisors LLC’s holdings in American Tower were worth $233,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of American Tower by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 60,930,583 shares of the real estate investment trust’s stock valued at $10,020,034,000 after acquiring an additional 196,942 shares during the last quarter. Cohen & Steers Inc. increased its position in shares of 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 valued at $3,549,366,000 after buying an additional 583,892 shares in the last quarter. Wellington Management Group LLP increased its position in shares of American Tower by 21.9% in the 4th quarter. Wellington Management Group LLP now owns 15,823,622 shares of the real estate investment trust’s stock valued at $3,416,004,000 after buying an additional 2,839,570 shares in the last quarter. Morgan Stanley increased its position in shares of American Tower by 3.7% in 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 buying an additional 258,030 shares in the last quarter. Finally, Akre Capital Management LLC increased its position in shares of American Tower by 0.5% in the 4th quarter. Akre Capital Management LLC now owns 6,804,599 shares of the real estate investment trust’s stock valued at $1,468,977,000 after buying an additional 36,375 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the subject of a number of recent analyst reports. Scotiabank lowered 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. Mizuho assumed coverage on shares of American Tower in a research report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective for the company. BMO Capital Markets reduced their target price on shares of 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 raised shares of American Tower from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $226.00 to $248.00 in a research note on Wednesday, May 1st. Finally, Barclays reduced their target price on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $220.91.

American Tower Trading Up 1.4 %

American Tower stock opened at $195.28 on Friday. The firm has a 50-day moving average of $187.27 and a 200-day moving average of $195.21. 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 company has a market cap of $91.19 billion, a price-to-earnings ratio of 44.18, a P/E/G ratio of 1.37 and a beta of 0.79.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates 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. On average, equities analysts expect that American Tower Co. will post 10.03 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced 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 is Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.32%. American Tower’s payout ratio is 146.61%.

Insider Activity

In other news, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $183.50, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $183.50, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Sanjay Goel sold 3,504 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the transaction, 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. 0.18% of the stock is owned by insiders.

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.