Insight Wealth Strategies LLC Purchases 2,888 Shares of American Tower Co. (REIT) (NYSE:AMT)

Insight Wealth Strategies LLC boosted its position in shares of American Tower Co. (REIT) (NYSE:AMT) by 211.0% in the 1st quarter, HoldingsChannel reports. The firm owned 4,257 shares of the real estate investment trust’s stock after buying an additional 2,888 shares during the period. Insight Wealth Strategies LLC’s holdings in American Tower were worth $1,018,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AMT. Assenagon Asset Management S.A. bought a new position in American Tower during the 4th quarter valued at about $272,000. Rosenberg Matthew Hamilton bought a new position in shares of American Tower in the fourth quarter worth about $29,000. JLP Asset Management LLC raised its stake in shares of American Tower by 30.5% in the fourth quarter. JLP Asset Management LLC now owns 50,900 shares of the real estate investment trust’s stock worth $11,425,000 after acquiring an additional 11,900 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of American Tower by 89.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 41,479 shares of the real estate investment trust’s stock worth $9,310,000 after acquiring an additional 19,556 shares during the last quarter. Finally, Trustcore Financial Services LLC raised its stake in shares of American Tower by 39.0% in the fourth quarter. Trustcore Financial Services LLC now owns 239 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 67 shares during the last quarter. 87.18% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Olivier Puech sold 3,268 shares of the company’s stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $220.00, for a total value of $718,960.00. Following the completion of the transaction, the executive vice president now owns 19,531 shares in the company, valued at $4,296,820. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Rodney M. Smith sold 1,533 shares of the company’s stock in a transaction that occurred on Monday, May 24th. The shares were sold at an average price of $250.80, for a total transaction of $384,476.40. Following the completion of the transaction, the chief financial officer now owns 49,450 shares of the company’s stock, valued at approximately $12,402,060. The disclosure for this sale can be found here. Insiders sold 63,734 shares of company stock valued at $15,758,862 in the last quarter. Corporate insiders own 0.68% of the company’s stock.

A number of brokerages have weighed in on AMT. Wolfe Research began coverage on shares of American Tower in a research note on Thursday, March 18th. They issued an “outperform” rating for the company. Royal Bank of Canada boosted their target price on shares of American Tower from $250.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 5th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of American Tower from a “buy” rating to a “hold” rating and set a $227.00 price target for the company. in a research note on Tuesday, March 2nd. Raymond James boosted their price target on shares of American Tower from $244.00 to $261.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 4th. Finally, KeyCorp boosted their price target on shares of American Tower from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $276.67.

Shares of NYSE AMT opened at $269.14 on Friday. The firm has a market capitalization of $122.13 billion, a PE ratio of 62.46, a P/E/G ratio of 2.08 and a beta of 0.23. The firm’s 50 day moving average price is $251.11. The company has a debt-to-equity ratio of 6.45, a quick ratio of 1.13 and a current ratio of 1.13. American Tower Co. has a 52-week low of $197.50 and a 52-week high of $272.20.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Wednesday, April 28th. The real estate investment trust reported $1.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.25 by ($0.80). American Tower had a net margin of 23.40% and a return on equity of 44.78%. On average, analysts forecast that American Tower Co. will post 9.15 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 9th. Stockholders of record on Friday, June 18th will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, June 17th. This is a boost from American Tower’s previous quarterly dividend of $1.24. American Tower’s dividend payout ratio is 58.77%.

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 approximately 181,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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