American Tower Co. (NYSE:AMT) Shares Purchased by Profund Advisors LLC

Profund Advisors LLC raised its position in American Tower Co. (NYSE:AMT) by 2.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,426 shares of the real estate investment trust’s stock after purchasing an additional 212 shares during the quarter. Profund Advisors LLC’s holdings in American Tower were worth $1,443,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Accretive Wealth Partners LLC increased its stake in American Tower by 9.4% during the 4th quarter. Accretive Wealth Partners LLC now owns 4,435 shares of the real estate investment trust’s stock worth $958,000 after buying an additional 380 shares during the period. Aveo Capital Partners LLC acquired a new stake in shares of American Tower in the fourth quarter valued at $344,000. Gryphon Financial Partners LLC boosted its holdings in 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 purchasing an additional 1,620 shares during the period. Quest Partners LLC purchased a new stake in American Tower during the 4th quarter worth about $214,000. Finally, Cambridge Investment Research Advisors Inc. raised its position in American Tower by 7.6% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 46,216 shares of the real estate investment trust’s stock valued at $9,977,000 after purchasing an additional 3,250 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Up 0.5 %

Shares of NYSE AMT opened at $236.24 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. The stock has a market capitalization of $110.32 billion, a PE ratio of 53.45, a P/E/G ratio of 1.60 and a beta of 0.83. The firm has a fifty day moving average of $225.12 and a 200-day moving average of $202.62. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $243.56.

American Tower (NYSE:AMT) last released its quarterly earnings data 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 analyst estimates 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 earnings per share. On average, analysts anticipate that American Tower Co. will post 10.13 EPS for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 2.74%. American Tower’s dividend payout ratio (DPR) is 146.61%.

Insider Activity at American Tower

In other news, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of American Tower 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 sale, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. The disclosure for this sale can be found here. In the last three months, insiders sold 33,723 shares of company stock worth $7,795,397. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AMT. Deutsche Bank Aktiengesellschaft raised their target price on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. TD Cowen boosted their target price 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. Mizuho lifted their price target on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Scotiabank increased their price objective on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 31st. Finally, Barclays decreased their target price on American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.