Tiaa Fsb grew its stake in American Tower Co. (NYSE: AMT – Get Rating) by 12.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 133,673 shares of the real estate investment trust’s stock after buying an additional 15,300 shares during the period. Tiaa Fsb’s holdings in American Tower were worth $ 33,479,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of AMT. Patriot Financial Group Insurance Agency LLC increased its holdings in American Tower by 3.0% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,312 shares of the real estate investment trust’s stock valued at $ 348,000 after acquiring an additional 38 shares in the last quarter. Vigilant Capital Management LLC boosted its stake in shares of American Tower by 3.7% during the 4th quarter. Vigilant Capital Management LLC now owns 1,113 shares of the real estate investment trust’s stock worth $ 326,000 after purchasing an additional 40 shares during the last quarter. Beech Hill Advisors Inc. boosted its stake in shares of American Tower by 0.3% during the 4th quarter. Beech Hill Advisors Inc. now owns 12,025 shares of the real estate investment trust’s stock worth $ 3,517,000 after purchasing an additional 40 shares during the last quarter. JNBA Financial Advisors boosted its stake in shares of American Tower by 54.4% during the 4th quarter. JNBA Financial Advisors now owns 122 shares of the real estate investment trust’s stock worth $ 36,000 after purchasing an additional 43 shares during the last quarter. Finally, McIlrath & Eck LLC boosted its stake in shares of American Tower by 17.6% during the 4th quarter. McIlrath & Eck LLC now owns 287 shares of the real estate investment trust’s stock worth $ 84,000 after purchasing an additional 43 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company stock.
Shares of AMT opened at $ 252.01 on Thursday. American Tower Co. has a 1 year low of $ 220.00 and a 1 year high of $ 303.72. The company has a market cap of $ 117.11 billion, a price-to-earnings ratio of 43.60, a price-to-earnings-growth ratio of 2.41 and a beta of 0.48. The company has a debt-to-equity ratio of 4.12, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a fifty day moving average of $ 248.26 and a 200-day moving average of $ 251.45.
American Tower (NYSE: AMT – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The real estate investment trust reported $ 1.56 earnings per share for the quarter, missing the consensus estimate of $ 2.41 by ($ 0.85). The company had revenue of $ 2.66 billion during the quarter, compared to analyst estimates of $ 2.61 billion. American Tower had a return on equity of 30.44% and a net margin of 26.72%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the previous year, the company earned $ 2.46 EPS. Analysts predict that American Tower Co. will post 9.65 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 8th. Investors of record on Friday, June 17th will be issued a $ 1.43 dividend. The ex-dividend date is Thursday, June 16th. This represents a $ 5.72 annualized dividend and a yield of 2.27%. This is an increase from American Tower’s previous quarterly dividend of $ 1.40. American Tower’s dividend payout ratio is presently 98.96%.
Several equities research analysts have issued reports on AMT shares. Deutsche Bank Aktiengesellschaft decreased their price target on shares of American Tower from $ 288.00 to $ 260.00 and set a “hold” rating on the stock in a research note on Monday, February 28th. Credit Suisse Group initiated coverage on shares of American Tower in a research report on Wednesday. They issued an “outperform” rating on the stock. KeyCorp dropped their target price on shares of American Tower from $ 311.00 to $ 286.00 and set an “overweight” rating on the stock in a research report on Friday, February 25th. Morgan Stanley dropped their price objective on shares of American Tower from $ 275.00 to $ 268.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 7th. Finally, TheStreet upgraded shares of American Tower from a “c +” rating to a “b” rating in a research note on Wednesday, April 27th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $ 291.29.
In other American Tower news, CFO Rodney M. Smith sold 25,389 shares of the business’s stock in a transaction dated Thursday, April 21st. The shares were sold at an average price of $ 270.00, for a total value of $ 6,855,030.00. Following the sale, the chief financial officer now directly owns 52,398 shares in the company, valued at $ 14,147,460. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert D. Hormats sold 200 shares of the business’s stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $ 235.40, for a total transaction of $ 47,080.00. Following the completion of the sale, the director now owns 6,721 shares in the company, valued at $ 1,582,123.40. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company stock.
About American Tower: (Get Rating)
American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.
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