Capstone Triton Financial Group LLC Grows Position in American Tower Co. (NYSE:AMT)

Capstone Triton Financial Group LLC grew its stake in American Tower Co. (NYSE:AMT) by 7.3% during the 2nd quarter, Holdings Channel reports. The fund owned 6,650 shares of the real estate investment trust’s stock after acquiring an additional 451 shares during the period. Capstone Triton Financial Group LLC’s holdings in American Tower were worth $1,293,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Northwest Investment Counselors LLC acquired a new position in American Tower in the 1st quarter valued at $25,000. Gold Investment Management Ltd. acquired a new position in American Tower in the fourth quarter valued at $28,000. Cultivar Capital Inc. purchased a new position in American Tower during the second quarter worth about $25,000. Hobbs Group Advisors LLC acquired a new stake in American Tower in the 2nd quarter worth about $29,000. Finally, SOA Wealth Advisors LLC. purchased a new stake in American Tower in the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

American Tower stock opened at $235.16 on Friday. 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 one year low of $154.58 and a one year high of $243.56. The stock’s 50 day moving average price is $224.57 and its 200 day moving average price is $202.44. The firm has a market capitalization of $109.81 billion, a PE ratio of 53.20, a price-to-earnings-growth ratio of 1.60 and a beta of 0.83.

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

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is 146.61%.

Analysts Set New Price Targets

AMT has been the topic of several recent analyst reports. Royal Bank of Canada raised their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. The Goldman Sachs Group started coverage on shares of American Tower in a report on Monday, July 1st. They issued a “buy” rating and a $230.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Scotiabank lifted their target price on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 31st. Finally, Mizuho upped their price target on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given 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 $233.29.

Insider Activity at American Tower

In other American Tower news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The stock was 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 in the company, valued at approximately $12,070,789.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the completion of the sale, the chief accounting officer now directly owns 31,873 shares of the company’s stock, valued at $7,424,177.89. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Olivier Puech sold 10,005 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the transaction, the executive vice president now directly owns 51,746 shares in the company, valued at approximately $12,070,789.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,723 shares of company stock valued at $7,795,397. Insiders own 0.18% of the company’s stock.

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.