Mattson Financial Services LLC Makes New $1.19 Million Investment in American Tower Co. (NYSE:AMT)

Mattson Financial Services LLC purchased a new stake in shares of American Tower Co. (NYSE:AMT) during the second quarter, HoldingsChannel.com reports. The fund purchased 6,116 shares of the real estate investment trust’s stock, valued at approximately $1,189,000.

Other large investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in shares of American Tower during the 1st quarter valued at $25,000. Cultivar Capital Inc. purchased a new stake in shares of American Tower during the 2nd quarter valued at about $25,000. Fairscale Capital LLC purchased a new stake in shares of American Tower during the 2nd quarter valued at about $27,000. Hobbs Group Advisors LLC bought a new position in shares of American Tower in the 2nd quarter worth approximately $29,000. Finally, SOA Wealth Advisors LLC. purchased a new position in shares of American Tower in the first quarter worth approximately $30,000. 92.69% of the stock is currently owned by institutional investors.

American Tower Trading Down 0.1 %

AMT stock opened at $231.94 on Thursday. The firm’s fifty day simple moving average is $228.29 and its two-hundred day simple moving average is $204.09. The stock has a market capitalization of $108.31 billion, a price-to-earnings ratio of 52.48, a price-to-earnings-growth ratio of 1.05 and a beta of 0.83. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $243.56.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the previous year, the company posted $2.46 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, analysts anticipate that American Tower Co. will post 10.13 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

Insiders Place Their Bets

In other news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the sale, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at $14,223,890. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Olivier Puech sold 10,005 shares of the company’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 completion of the sale, 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. Insiders have sold a total of 33,723 shares of company stock worth $7,795,397 over the last quarter. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Wells Fargo & Company upped their price objective on American Tower from $225.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. BMO Capital Markets upped their price target on American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. The Goldman Sachs Group started coverage on shares of American Tower in a report on Monday, July 1st. They set a “buy” rating and a $230.00 price objective for the company. Scotiabank boosted their target price on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a report on Wednesday, July 31st. Finally, StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Two investment 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.00.

American Tower 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.