Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its holdings in American Tower Co. (NYSE:AMT – Get Rating) by 0.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,513,440 shares of the real estate investment trust’s stock after selling 125 shares during the period. American Tower makes up 3.9% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s portfolio, making the stock its 6th biggest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned about 0.33% of American Tower worth $380,207,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Voloridge Investment Management LLC purchased a new position in American Tower in the third quarter valued at about $209,000. Cetera Investment Advisers lifted its position in American Tower by 5.0% during the 3rd quarter. Cetera Investment Advisers now owns 13,187 shares of the real estate investment trust’s stock worth $3,500,000 after acquiring an additional 629 shares in the last quarter. Headinvest LLC lifted its position in American Tower by 7.4% during the 3rd quarter. Headinvest LLC now owns 3,003 shares of the real estate investment trust’s stock worth $797,000 after acquiring an additional 208 shares in the last quarter. Phocas Financial Corp. lifted its position in American Tower by 1.0% during the 3rd quarter. Phocas Financial Corp. now owns 12,922 shares of the real estate investment trust’s stock worth $3,430,000 after acquiring an additional 126 shares in the last quarter. Finally, Colony Group LLC lifted its position in American Tower by 3.7% during the 3rd quarter. Colony Group LLC now owns 21,223 shares of the real estate investment trust’s stock worth $5,633,000 after acquiring an additional 755 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Robert D. Hormats sold 200 shares of the business’s stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $235.40, for a total value of $47,080.00. Following the sale, the director now owns 6,721 shares of the company’s stock, valued at approximately $1,582,123.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Rodney M. Smith sold 25,389 shares of the business’s 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 completion of the sale, the chief financial officer now directly owns 52,398 shares in the company, valued at approximately $14,147,460. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.
American Tower (NYSE:AMT – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The real estate investment trust reported $1.56 earnings per share (EPS) 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 the consensus estimate of $2.61 billion. American Tower had a return on equity of 30.44% and a net margin of 26.72%. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period last year, the business posted $2.46 EPS. Equities analysts forecast that American Tower Co. will post 9.65 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 8th. Shareholders of record on Friday, June 17th will be paid 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 yield of 2.22%. This is an increase from American Tower’s previous quarterly dividend of $1.40. American Tower’s payout ratio is presently 98.96%.
Several equities analysts recently commented on AMT shares. Barclays reduced their price target on American Tower from €295.00 ($310.53) to €284.00 ($298.95) in a research report on Friday, March 18th. Deutsche Bank Aktiengesellschaft reduced their price target on American Tower from $288.00 to $260.00 and set a “hold” rating on the stock in a research report on Monday, February 28th. KeyCorp cut their target price on American Tower from $311.00 to $286.00 and set an “overweight” rating on the stock in a research report on Friday, February 25th. Raymond James cut their target price on American Tower from $294.00 to $279.00 and set an “outperform” rating on the stock in a research report on Monday, February 28th. Finally, StockNews.com began coverage on American Tower in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and a consensus target price of $291.29.
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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