Lindbrook Capital LLC trimmed its position in shares of American Tower Co. (NYSE:AMT – Get Rating) by 2.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,039 shares of the real estate investment trust’s stock after selling 52 shares during the quarter. Lindbrook Capital LLC’s holdings in American Tower were worth $512,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Graypoint LLC grew its position 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 purchasing an additional 79 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position 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 purchasing an additional 403 shares during the last quarter. AE Wealth Management LLC boosted its holdings in shares of 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 acquiring an additional 2,397 shares during the last quarter. Legacy Private Trust Co. boosted its holdings in shares of 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 acquiring an additional 92 shares during the last quarter. Finally, Greenwich Wealth Management LLC bought a new stake in shares of American Tower during the 4th quarter valued at about $1,077,000. 91.00% of the stock is currently owned by institutional investors.
In related news, Director Robert D. Hormats sold 200 shares of the firm’s 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 directly owns 6,721 shares of the company’s stock, valued at $1,582,123.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Rodney M. Smith sold 25,389 shares of the firm’s stock in a transaction on Thursday, April 21st. The shares were sold at an average price of $270.00, for a total transaction of $6,855,030.00. Following the completion of the transaction, the chief financial officer now directly owns 52,398 shares of the company’s stock, valued at $14,147,460. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.
NYSE AMT opened at $258.40 on Friday. American Tower Co. has a 12 month low of $220.00 and a 12 month high of $303.72. The stock has a market cap of $120.08 billion, a price-to-earnings ratio of 44.71, a PEG ratio of 2.56 and a beta of 0.48. The company’s 50 day moving average is $247.85 and its two-hundred day moving average is $250.65. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 4.12.
American Tower (NYSE:AMT – Get Rating) last released its earnings results on Wednesday, April 27th. The real estate investment trust reported $1.56 EPS for the quarter, missing analysts’ consensus estimates of $2.41 by ($0.85). American Tower had a return on equity of 30.44% and a net margin of 26.72%. The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the previous year, the business posted $2.46 EPS. American Tower’s revenue was up 23.2% on a year-over-year basis. Sell-side analysts forecast 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. Stockholders of record on Friday, June 17th will be given a dividend of $1.43 per share. The ex-dividend date of this dividend is Thursday, June 16th. This represents a $5.72 annualized dividend and a dividend yield of 2.21%. This is a boost from American Tower’s previous quarterly dividend of $1.40. American Tower’s dividend payout ratio (DPR) is currently 98.96%.
A number of analysts have recently issued reports on AMT shares. TheStreet raised shares of American Tower from a “c+” rating to a “b” rating in a report on Wednesday, April 27th. Wells Fargo & Company raised their price target on shares of American Tower from $250.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, March 11th. Barclays dropped their price target on shares of American Tower from €295.00 ($313.83) to €284.00 ($302.13) in a report on Friday, March 18th. Bank of America started coverage on shares of American Tower in a research note on Sunday, June 5th. They issued a “buy” rating and a $315.00 price objective on the stock. Finally, JPMorgan Chase & Co. upgraded shares of American Tower from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from $245.00 to $285.00 in a research note on Tuesday, June 21st. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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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