EP Wealth Advisors LLC Has $61.29 Million Stock Holdings in American Tower Co. (NYSE:AMT)

EP Wealth Advisors LLC grew its holdings in American Tower Co. (NYSE:AMT) by 8.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 315,322 shares of the real estate investment trust’s stock after buying an additional 24,629 shares during the quarter. EP Wealth Advisors LLC owned approximately 0.07% of American Tower worth $61,292,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several analysts have commented on AMT shares. Mizuho raised 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. Deutsche Bank Aktiengesellschaft upped their target price on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. BMO Capital Markets lifted their target price on American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, September 13th. Royal Bank of Canada raised their price target on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, Scotiabank boosted their price objective on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $234.00.

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 related news, EVP Olivier Puech sold 10,005 shares of the company’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 completion of the transaction, the executive vice president now directly owns 51,746 shares in the company, valued at approximately $12,070,789.42. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of the firm’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 transaction of $4,953,510.00. Following the completion of the sale, the chief executive officer now 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 have sold 33,723 shares of company stock valued at $7,795,397. 0.18% of the stock is owned by corporate insiders.

American Tower Trading Down 0.6 %

Shares of AMT stock opened at $230.32 on Monday. The company has a market capitalization of $107.55 billion, a PE ratio of 52.11, a price-to-earnings-growth ratio of 1.08 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 12-month low of $154.58 and a 12-month high of $243.56. The firm has a 50 day moving average price of $226.93 and a two-hundred day moving average price of $203.42.

American Tower (NYSE:AMT) last announced its earnings results 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 company’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.46 EPS. As a group, analysts predict that American Tower Co. will post 10.13 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be paid 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 yield of 2.81%. American Tower’s dividend payout ratio (DPR) is presently 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.