Altman Advisors Inc. reduced its position in American Tower Co. (NYSE:AMT – Get Rating) by 34.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,787 shares of the real estate investment trust’s stock after selling 3,068 shares during the period. Altman Advisors Inc.’s holdings in American Tower were worth $1,454,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rational Advisors LLC grew its stake in shares of American Tower by 140.0% during the 4th quarter. Rational Advisors LLC now owns 84 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 49 shares in the last quarter. Cassady Schiller Wealth Management LLC bought a new stake in American Tower in the fourth quarter valued at approximately $25,000. Sandy Cove Advisors LLC acquired a new position in American Tower in the fourth quarter valued at approximately $27,000. Crewe Advisors LLC acquired a new position in shares of American Tower during the fourth quarter worth approximately $28,000. Finally, First Personal Financial Services bought a new stake in American Tower during the fourth quarter worth $30,000. 91.00% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
AMT has been the topic of several recent analyst reports. TheStreet raised American Tower from a “c+” rating to a “b” rating in a report on Wednesday, April 27th. Credit Suisse Group began coverage on American Tower in a research report on Wednesday, June 22nd. They issued an “outperform” rating and a $313.00 price target for the company. Royal Bank of Canada upped their price target on American Tower from $282.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday. Morgan Stanley cut their target price on American Tower from $268.00 to $252.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 20th. Finally, Jefferies Financial Group cut their price target on American Tower from $308.00 to $293.00 and set a “buy” rating for the company in a report on Thursday, June 30th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $291.69.
American Tower Trading Down 0.7 %
American Tower (NYSE:AMT – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.99. American Tower had a net margin of 27.23% and a return on equity of 28.93%. The firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the previous year, the business posted $2.42 EPS. The firm’s revenue was up 16.3% compared to the same quarter last year. On average, equities analysts predict that American Tower Co. will post 9.37 EPS for the current year.
American Tower Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 8th. Shareholders of record on Friday, June 17th were given a $1.43 dividend. This is a boost from American Tower’s previous quarterly dividend of $1.40. The ex-dividend date was Thursday, June 16th. This represents a $5.72 annualized dividend and a yield of 2.12%. American Tower’s dividend payout ratio is 94.08%.
Insiders Place Their Bets
In other American Tower news, Director Robert D. Hormats sold 150 shares of the company’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $254.53, for a total value of $38,179.50. Following the completion of the transaction, the director now owns 6,571 shares in the company, valued at approximately $1,672,516.63. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Robert D. Hormats sold 200 shares of the stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $235.40, for a total transaction of $47,080.00. Following the completion of the sale, 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert D. Hormats sold 150 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $254.53, for a total transaction of $38,179.50. Following the sale, the director now directly owns 6,571 shares of the company’s stock, valued at $1,672,516.63. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.
About American Tower
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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