American Tower Co. (NYSE:AMT) Shares Bought by Edge Wealth Management LLC

Edge Wealth Management LLC lifted its holdings in shares of American Tower Co. (NYSE:AMT) by 0.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,322 shares of the real estate investment trust’s stock after purchasing an additional 68 shares during the quarter. American Tower comprises about 2.7% of Edge Wealth Management LLC’s investment portfolio, making the stock its 16th biggest position. Edge Wealth Management LLC’s holdings in American Tower were worth $12,709,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of American Tower by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 60,930,583 shares of the real estate investment trust’s stock valued at $10,020,034,000 after acquiring an additional 196,942 shares in the last quarter. Cohen & Steers Inc. lifted its stake in shares of American Tower by 3.7% during the fourth quarter. Cohen & Steers Inc. now owns 16,440,715 shares of the real estate investment trust’s stock worth $3,549,366,000 after purchasing an additional 583,892 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of American Tower by 21.9% in the fourth quarter. Wellington Management Group LLP now owns 15,823,622 shares of the real estate investment trust’s stock valued at $3,416,004,000 after buying an additional 2,839,570 shares in the last quarter. Morgan Stanley raised its holdings in shares of American Tower by 3.7% during the 3rd quarter. Morgan Stanley now owns 7,269,957 shares of the real estate investment trust’s stock valued at $1,195,545,000 after buying an additional 258,030 shares during the period. Finally, Akre Capital Management LLC lifted its position in American Tower by 0.5% during the 4th quarter. Akre Capital Management LLC now owns 6,804,599 shares of the real estate investment trust’s stock worth $1,468,977,000 after acquiring an additional 36,375 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other news, Director Robert D. Hormats sold 700 shares of American Tower stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the sale, the director now directly owns 7,332 shares in the company, valued at approximately $1,345,422. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Sanjay Goel sold 3,504 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the sale, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert D. Hormats sold 700 shares of American Tower stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $183.50, for a total value of $128,450.00. Following the completion of the transaction, the director now directly owns 7,332 shares of the company’s stock, valued at $1,345,422. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

American Tower Stock Up 0.4 %

NYSE AMT traded up $0.71 during trading on Friday, hitting $196.03. 143,876 shares of the company traded hands, compared to its average volume of 2,404,110. The company has a market capitalization of $91.54 billion, a P/E ratio of 44.18, a PEG ratio of 1.37 and a beta of 0.79. The business has a fifty day simple moving average of $187.27 and a 200 day simple moving average of $195.21. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.39.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. American Tower had a return on equity of 18.45% and a net margin of 18.42%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.54 EPS. As a group, sell-side analysts predict that American Tower Co. will post 10.03 EPS for the current year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be given a $1.62 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.48 annualized dividend and a yield of 3.31%. American Tower’s dividend payout ratio (DPR) is currently 146.61%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AMT shares. Mizuho began coverage on shares of American Tower in a research note on Monday, April 8th. They set a “neutral” rating and a $205.00 price target on the stock. Raymond James raised American Tower from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $226.00 to $248.00 in a research report on Wednesday, May 1st. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. BMO Capital Markets reduced their target price on American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Finally, Morgan Stanley lifted their price target on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $220.91.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.