American Tower Co. (NYSE:AMT) Stock Holdings Raised by Foresight Group Ltd Liability Partnership

Foresight Group Ltd Liability Partnership lifted its position in American Tower Co. (NYSE:AMT) by 1.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 178,902 shares of the real estate investment trust’s stock after purchasing an additional 1,957 shares during the quarter. American Tower accounts for about 14.8% of Foresight Group Ltd Liability Partnership’s holdings, making the stock its largest holding. Foresight Group Ltd Liability Partnership’s holdings in American Tower were worth $34,775,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new position in American Tower in the 1st quarter worth $25,000. Cultivar Capital Inc. bought a new position in shares of American Tower during the second quarter valued at about $25,000. Gold Investment Management Ltd. bought a new stake in shares of American Tower in the 4th quarter valued at about $28,000. Hobbs Group Advisors LLC purchased a new stake in American Tower during the 2nd quarter valued at about $29,000. Finally, SOA Wealth Advisors LLC. bought a new position in American Tower during the 1st quarter worth approximately $30,000. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on AMT. Mizuho increased their price objective on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. increased their price target on shares of American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company upped their price objective on shares of American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group started coverage on American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 target price on the stock. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $233.29.

American Tower Stock Down 1.5 %

Shares of NYSE:AMT opened at $235.95 on Thursday. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $243.56. The firm has a market capitalization of $110.18 billion, a P/E ratio of 53.38, a P/E/G ratio of 1.60 and a beta of 0.83. The stock has a 50 day moving average price of $223.58 and a 200-day moving average price of $202.03.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter last year, the company posted $2.46 EPS. American Tower’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities research analysts anticipate that American Tower Co. will post 10.13 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s payout ratio is currently 146.61%.

Insiders Place Their Bets

In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the completion of the transaction, the chief accounting officer now directly owns 31,873 shares in the company, valued at $7,424,177.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Olivier Puech sold 10,005 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the sale, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction of $508,020.33. Following the completion of the transaction, the chief accounting officer now directly owns 31,873 shares of the company’s stock, valued at $7,424,177.89. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,723 shares of company stock worth $7,795,397. 0.18% of the stock is currently owned by company insiders.

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.