Linscomb & Williams Inc. Boosts Stock Holdings in American Tower Co. (REIT) (NYSE:AMT)

Linscomb & Williams Inc. raised its holdings in shares of American Tower Co. (REIT) (NYSE:AMT) by 0.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,785 shares of the real estate investment trust’s stock after buying an additional 95 shares during the period. Linscomb & Williams Inc.’s holdings in American Tower were worth $3,534,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of American Tower by 0.6% during the first quarter. BlackRock Inc. now owns 34,556,593 shares of the real estate investment trust’s stock worth $8,261,099,000 after purchasing an additional 208,020 shares during the period. Akre Capital Management LLC boosted its holdings in shares of American Tower by 1.4% during the fourth quarter. Akre Capital Management LLC now owns 7,130,558 shares of the real estate investment trust’s stock worth $1,600,525,000 after purchasing an additional 97,189 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of American Tower by 3.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,115,306 shares of the real estate investment trust’s stock worth $1,372,618,000 after purchasing an additional 218,524 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of American Tower by 2.8% during the first quarter. Principal Financial Group Inc. now owns 4,877,499 shares of the real estate investment trust’s stock worth $1,166,015,000 after purchasing an additional 130,838 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of American Tower by 1.3% during the fourth quarter. Bank of New York Mellon Corp now owns 4,195,305 shares of the real estate investment trust’s stock worth $941,676,000 after purchasing an additional 52,629 shares during the period. Institutional investors and hedge funds own 87.18% of the company’s stock.

In related news, CFO Rodney M. Smith sold 1,533 shares of the firm’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 value of $384,476.40. Following the sale, the chief financial officer now owns 49,450 shares in the company, valued at $12,402,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amit Sharma sold 40,276 shares of the firm’s stock in a transaction that occurred on Monday, May 10th. The stock was sold at an average price of $248.48, for a total transaction of $10,007,780.48. Following the completion of the sale, the chief executive officer now owns 259,622 shares in the company, valued at approximately $64,510,874.56. The disclosure for this sale can be found here. Insiders have sold 63,734 shares of company stock valued at $15,758,862 in the last three months. 0.68% of the stock is owned by insiders.

Shares of NYSE AMT opened at $270.82 on Friday. American Tower Co. has a fifty-two week low of $197.50 and a fifty-two week high of $272.20. The firm’s 50 day simple moving average is $251.11. The company has a market capitalization of $122.90 billion, a P/E ratio of 62.84, a price-to-earnings-growth ratio of 2.08 and a beta of 0.23. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 6.45.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Wednesday, April 28th. The real estate investment trust reported $1.45 earnings per share for the quarter, missing the Thomson Reuters’ 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%. As a group, research analysts forecast that American Tower Co. will post 9.15 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 9th. Investors of record on Friday, June 18th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Thursday, June 17th. This represents a $5.08 annualized dividend and a dividend yield of 1.88%. This is an increase from American Tower’s previous quarterly dividend of $1.24. American Tower’s dividend payout ratio (DPR) is 58.77%.

A number of analysts have recently weighed in on AMT shares. Morgan Stanley increased their target price on shares of American Tower from $248.00 to $262.00 and gave the stock an “equal weight” rating in a report on Monday, April 19th. Zacks Investment Research lowered shares of American Tower from a “buy” rating to a “hold” rating and set a $227.00 price objective for the company. in a report on Tuesday, March 2nd. Wolfe Research assumed coverage on shares of American Tower in a report on Thursday, March 18th. They issued an “outperform” rating for the company. Royal Bank of Canada raised their price objective on shares of American Tower from $250.00 to $280.00 and gave the stock an “outperform” rating in a report on Wednesday, May 5th. They noted that the move was a valuation call. Finally, Cowen lowered their price objective on shares of American Tower from $334.00 to $324.00 and set an “outperform” rating for the company in a report on Friday, February 26th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $276.67.

About American Tower

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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