J. Stern & Co. LLP Acquires 1,139 Shares of American Tower Co. (NYSE:AMT)

J. Stern & Co. LLP boosted its holdings in shares of American Tower Co. (NYSE:AMT) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 111,089 shares of the real estate investment trust’s stock after purchasing an additional 1,139 shares during the quarter. American Tower comprises 2.6% of J. Stern & Co. LLP’s portfolio, making the stock its 18th biggest holding. J. Stern & Co. LLP’s holdings in American Tower were worth $21,593,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. NBT Bank N A NY lifted its holdings in American Tower by 3.3% during the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock worth $329,000 after buying an additional 54 shares during the period. O Brien Greene & Co. Inc lifted its stake in shares of American Tower by 2.3% during the 2nd quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock worth $481,000 after purchasing an additional 55 shares during the last quarter. Glassman Wealth Services boosted its position in American Tower by 4.7% during the fourth quarter. Glassman Wealth Services now owns 1,242 shares of the real estate investment trust’s stock valued at $268,000 after purchasing an additional 56 shares in the last quarter. CFO4Life Group LLC grew its stake in American Tower by 5.4% in the first quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $221,000 after purchasing an additional 57 shares during the last quarter. Finally, Tyche Wealth Partners LLC raised its holdings in American Tower by 4.9% in the second quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock worth $242,000 after purchasing an additional 58 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of recent analyst reports. Scotiabank raised their price target on shares of American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 31st. StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft increased their price objective on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Wells Fargo & Company boosted their target price on American Tower from $225.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, TD Cowen increased their price target on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $233.29.

Insider Transactions at American Tower

In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction that occurred on 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 in the company, valued at $7,424,177.89. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total value of $508,020.33. Following the completion of the transaction, the chief accounting officer now owns 31,873 shares of the company’s stock, valued at $7,424,177.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the transaction, the chief executive officer now owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The disclosure for this sale can be found here. Insiders have sold 33,723 shares of company stock worth $7,795,397 over the last quarter. 0.18% of the stock is currently owned by insiders.

American Tower Price Performance

Shares of NYSE:AMT opened at $235.06 on Monday. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $243.56. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. The company has a market cap of $109.77 billion, a PE ratio of 53.18, a price-to-earnings-growth ratio of 1.60 and a beta of 0.83. The company’s 50 day moving average is $224.57 and its 200 day moving average is $202.39.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share 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 business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the previous year, the company earned $2.46 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts forecast that American Tower Co. will post 10.13 EPS for the current year.

American Tower Announces Dividend

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

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.