Earnest Partners LLC Has $2.34 Million Holdings in American Tower Co. (NYSE:AMT)

Earnest Partners LLC trimmed its holdings in American Tower Co. (NYSE:AMT) by 3.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,049 shares of the real estate investment trust’s stock after selling 380 shares during the period. Earnest Partners LLC’s holdings in American Tower were worth $2,342,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of AMT. Accretive Wealth Partners LLC boosted its holdings in shares of American Tower by 9.4% in the fourth quarter. Accretive Wealth Partners LLC now owns 4,435 shares of the real estate investment trust’s stock valued at $958,000 after buying an additional 380 shares during the period. Aveo Capital Partners LLC bought a new position in shares of American Tower in the 4th quarter valued at about $344,000. Gryphon Financial Partners LLC increased its position in shares of American Tower by 17.4% in the fourth quarter. Gryphon Financial Partners LLC now owns 10,950 shares of the real estate investment trust’s stock valued at $2,472,000 after acquiring an additional 1,620 shares during the last quarter. TD Asset Management Inc raised its holdings in American Tower by 23.2% during the fourth quarter. TD Asset Management Inc now owns 275,428 shares of the real estate investment trust’s stock worth $59,459,000 after acquiring an additional 51,882 shares in the last quarter. Finally, Evoke Wealth LLC boosted its position in American Tower by 448.5% during the fourth quarter. Evoke Wealth LLC now owns 8,217 shares of the real estate investment trust’s stock valued at $1,788,000 after purchasing an additional 6,719 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Down 0.6 %

AMT opened at $230.32 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. The stock has a fifty day moving average of $226.93 and a 200-day moving average of $203.41. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $243.56. The company has a market capitalization of $107.55 billion, a P/E ratio of 52.11, a P/E/G ratio of 1.08 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 business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.46 EPS. On average, equities analysts expect that American Tower Co. will post 10.13 EPS for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be given a dividend of $1.62 per share. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.81%. American Tower’s payout ratio is 146.61%.

Insider Transactions 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 shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the completion of the transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Steven O. Vondran sold 21,537 shares of the 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 completion of the transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 51,746 shares in the company, valued at approximately $12,070,789.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,723 shares of company stock valued at $7,795,397. 0.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AMT. BMO Capital Markets boosted their price target on American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, September 13th. Mizuho boosted their target price on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised their target price 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, JPMorgan Chase & Co. upped their price objective on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $234.00.

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.