Lighthouse Investment Partners LLC purchased a new stake in American Tower Co. (NYSE:AMT – Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 70,000 shares of the real estate investment trust’s stock, valued at approximately $13,607,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Northwest Investment Counselors LLC acquired a new position in shares of American Tower in the 1st quarter valued at about $25,000. Cultivar Capital Inc. bought a new stake in American Tower in the 2nd quarter valued at about $25,000. Fairscale Capital LLC bought a new stake in American Tower in the 2nd quarter valued at about $27,000. Gold Investment Management Ltd. bought a new stake in American Tower in the 4th quarter valued at about $28,000. Finally, Hobbs Group Advisors LLC bought a new stake in American Tower in the 2nd quarter valued at about $29,000. 92.69% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at American Tower
In other news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction that occurred 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 directly owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at $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 the business’s 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 transaction, the chief accounting officer now directly owns 31,873 shares in the company, valued at $7,424,177.89. The disclosure for this sale can be found here. Insiders have sold a total of 33,723 shares of company stock valued at $7,795,397 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.
Analyst Upgrades and Downgrades
Check Out Our Latest Stock Analysis on AMT
American Tower Stock Performance
Shares of AMT opened at $231.77 on Friday. The firm’s 50 day moving average is $226.52 and its 200-day moving average is $203.25. The stock has a market capitalization of $108.26 billion, a P/E ratio of 52.44, a P/E/G ratio of 1.08 and a beta of 0.83. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $243.56.
American Tower (NYSE:AMT – Get Free Report) last released 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). The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $2.46 earnings per share. Equities research analysts anticipate that American Tower Co. will post 10.13 EPS for the current fiscal year.
American Tower Dividend Announcement
The company 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 $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is currently 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.
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