Semmax Financial Advisors Inc. Acquires 15,874 Shares of American Tower Co. (NYSE:AMT)

Semmax Financial Advisors Inc. grew its holdings in shares of American Tower Co. (NYSE:AMT) by 6,842.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 16,106 shares of the real estate investment trust’s stock after acquiring an additional 15,874 shares during the quarter. Semmax Financial Advisors Inc.’s holdings in American Tower were worth $3,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in AMT. Northwest Investment Counselors LLC bought a new position in American Tower during the first quarter valued at about $25,000. Cultivar Capital Inc. purchased a new stake in American Tower in the second quarter worth $25,000. Fairscale Capital LLC bought a new position in shares of American Tower during the 2nd quarter worth $27,000. Gold Investment Management Ltd. purchased a new stake in American Tower during the fourth quarter valued at about $28,000. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of American Tower during the 2nd quarter valued at approximately $29,000. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AMT shares. Barclays lowered their target price on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Scotiabank boosted their price objective on shares of American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group initiated 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. StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Finally, TD Cowen boosted their price target on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average price target of $234.00.

American Tower Stock Performance

Shares of AMT opened at $236.24 on Tuesday. American Tower Co. has a one year low of $154.58 and a one year high of $243.56. The company has a 50-day simple moving average of $225.12 and a two-hundred day simple moving average of $202.62. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $110.32 billion, a PE ratio of 53.45, a price-to-earnings-growth ratio of 1.60 and a beta of 0.83.

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). The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. American Tower’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.46 EPS. On average, analysts anticipate that American Tower Co. will post 10.13 EPS for the current fiscal year.

American Tower Announces Dividend

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 2.74%. The ex-dividend date is Wednesday, October 9th. American Tower’s payout ratio is currently 146.61%.

Insider Buying and Selling at American Tower

In other news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the sale, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the sale, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at $14,223,890. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were 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 owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,723 shares of company stock valued at $7,795,397. Corporate insiders own 0.18% of the company’s stock.

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.