Scientech Research LLC Acquires 1,279 Shares of American Tower Co. (NYSE:AMT)

Scientech Research LLC lifted its holdings in shares of American Tower Co. (NYSE:AMT) by 50.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,832 shares of the real estate investment trust’s stock after purchasing an additional 1,279 shares during the quarter. Scientech Research LLC’s holdings in American Tower were worth $745,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Lighthouse Investment Partners LLC bought a new position in shares of American Tower in the 2nd quarter worth $13,607,000. Mackenzie Financial Corp grew its position in American Tower by 23.6% in the second quarter. Mackenzie Financial Corp now owns 655,113 shares of the real estate investment trust’s stock worth $127,341,000 after acquiring an additional 125,104 shares in the last quarter. Makena Capital Management LLC bought a new position in American Tower in the second quarter valued at $7,797,000. MBB Public Markets I LLC lifted its stake in American Tower by 1,984.8% during the second quarter. MBB Public Markets I LLC now owns 32,898 shares of the real estate investment trust’s stock worth $6,395,000 after purchasing an additional 31,320 shares during the last quarter. Finally, Delta Investment Management LLC boosted its holdings in shares of American Tower by 7.3% in the 2nd quarter. Delta Investment Management LLC now owns 1,303 shares of the real estate investment trust’s stock worth $253,000 after purchasing an additional 89 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Royal Bank of Canada boosted their target price on 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 research note on Monday, July 1st. They issued a “buy” rating and a $230.00 price objective for the company. Wells Fargo & Company increased their target price on shares of American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Finally, BMO Capital Markets raised their price objective on American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, September 13th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $234.00.

American Tower Trading Down 0.6 %

NYSE AMT opened at $230.32 on Friday. 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 debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50 day simple moving average of $226.93 and a two-hundred day simple moving average of $203.41. The stock has a market cap of $107.55 billion, a P/E ratio of 52.11, a price-to-earnings-growth ratio of 1.08 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 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The business had revenue of $2.90 billion for 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%. American Tower’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.46 EPS. On average, analysts forecast that American Tower Co. will post 10.13 earnings per share 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 paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Wednesday, October 9th. American Tower’s payout ratio is 146.61%.

Insider Activity at American Tower

In other American Tower news, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 51,746 shares in the company, valued at $12,070,789.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the firm’s stock in a transaction 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 owns 31,873 shares of the company’s stock, valued at $7,424,177.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Olivier Puech sold 10,005 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 51,746 shares in the company, valued at $12,070,789.42. 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 90 days. 0.18% of the stock is owned by company insiders.

About American Tower

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.