J2 Capital Management Inc decreased its position in shares of American Tower Co. (NYSE:AMT – Get Rating) by 8.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,502 shares of the real estate investment trust’s stock after selling 142 shares during the quarter. J2 Capital Management Inc’s holdings in American Tower were worth $377,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Graypoint LLC grew its holdings in American Tower by 8.4% during the 1st quarter. Graypoint LLC now owns 1,022 shares of the real estate investment trust’s stock valued at $257,000 after buying an additional 79 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in American Tower by 1.3% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,311 shares of the real estate investment trust’s stock valued at $7,866,000 after buying an additional 403 shares in the last quarter. AE Wealth Management LLC grew its holdings in American Tower by 7.3% during the 1st quarter. AE Wealth Management LLC now owns 35,387 shares of the real estate investment trust’s stock valued at $8,890,000 after buying an additional 2,397 shares in the last quarter. Legacy Private Trust Co. grew its holdings in American Tower by 8.7% during the 1st quarter. Legacy Private Trust Co. now owns 1,152 shares of the real estate investment trust’s stock valued at $289,000 after buying an additional 92 shares in the last quarter. Finally, Greenwich Wealth Management LLC bought a new stake in shares of American Tower in the 4th quarter valued at approximately $1,077,000. Institutional investors and hedge funds own 91.00% of the company’s stock.
In other news, CFO Rodney M. Smith sold 25,389 shares of American Tower stock in a transaction on Thursday, April 21st. The stock was sold at an average price of $270.00, for a total value of $6,855,030.00. Following the transaction, the chief financial officer now directly owns 52,398 shares in the company, valued at approximately $14,147,460. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert D. Hormats sold 200 shares of American Tower stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $235.40, for a total value of $47,080.00. Following the completion of the transaction, 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. Company insiders own 0.24% of the company’s stock.
Shares of NYSE AMT opened at $258.40 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 4.12. The business has a fifty day simple moving average of $247.85 and a two hundred day simple moving average of $250.48. The firm has a market cap of $120.08 billion, a PE ratio of 44.71, a price-to-earnings-growth ratio of 2.56 and a beta of 0.46. American Tower Co. has a twelve month low of $220.00 and a twelve month high of $303.72.
American Tower (NYSE:AMT – Get Rating) last issued its earnings results on Wednesday, April 27th. The real estate investment trust reported $1.56 earnings per share for the quarter, missing analysts’ consensus estimates of $2.41 by ($0.85). The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.61 billion. American Tower had a net margin of 26.72% and a return on equity of 30.44%. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period last year, the company earned $2.46 earnings per share. On average, research analysts expect that American Tower Co. will post 9.52 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 8th. Stockholders of record on Friday, June 17th will be issued a $1.43 dividend. The ex-dividend date is Thursday, June 16th. This is an increase from American Tower’s previous quarterly dividend of $1.40. This represents a $5.72 dividend on an annualized basis and a dividend yield of 2.21%. American Tower’s dividend payout ratio (DPR) is currently 98.96%.
Several research firms have recently issued reports on AMT. Jefferies Financial Group lowered their price objective on American Tower from $308.00 to $293.00 and set a “buy” rating for the company in a research note on Thursday. KeyCorp lowered their price objective on American Tower from $286.00 to $283.00 and set an “overweight” rating for the company in a research note on Friday. Barclays lowered their price objective on American Tower from €295.00 ($313.83) to €284.00 ($302.13) in a research note on Friday, March 18th. Bank of America began coverage on American Tower in a research note on Sunday, June 5th. They issued a “buy” rating and a $315.00 price objective for the company. Finally, Credit Suisse Group started coverage on American Tower in a research note on Wednesday, June 22nd. They issued an “outperform” rating and a $313.00 price objective for the company. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $292.07.
American Tower Profile: (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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