Stokes Capital Advisors LLC Acquires 1,656 Shares of American Tower Co. (NYSE:AMT)

Stokes Capital Advisors LLC increased its holdings in American Tower Co. (NYSE:AMT) by 8.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,263 shares of the real estate investment trust’s stock after buying an additional 1,656 shares during the period. Stokes Capital Advisors LLC’s holdings in American Tower were worth $4,004,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Cross Staff Investments Inc raised its stake in American Tower by 5.1% in the fourth quarter. Cross Staff Investments Inc now owns 5,027 shares of the real estate investment trust’s stock worth $1,085,000 after buying an additional 244 shares in the last quarter. Gateway Investment Advisers LLC raised its stake in American Tower by 57.7% in the fourth quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust’s stock worth $7,718,000 after buying an additional 13,074 shares in the last quarter. Anchor Capital Advisors LLC raised its stake in American Tower by 38.1% in the fourth quarter. Anchor Capital Advisors LLC now owns 76,625 shares of the real estate investment trust’s stock worth $16,542,000 after buying an additional 21,139 shares in the last quarter. Meyer Handelman Co. bought a new position in American Tower in the first quarter worth approximately $801,000. Finally, TD Asset Management Inc increased its position in shares of American Tower by 23.2% during the fourth quarter. TD Asset Management Inc now owns 275,428 shares of the real estate investment trust’s stock worth $59,459,000 after purchasing an additional 51,882 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT traded down $0.59 during trading hours on Friday, reaching $194.73. 256,428 shares of the company traded hands, compared to its average volume of 2,405,332. The stock has a market capitalization of $90.94 billion, a P/E ratio of 44.18, a P/E/G ratio of 1.37 and a beta of 0.79. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The business has a fifty day moving average price of $187.27 and a 200-day moving average price of $195.21.

American Tower (NYSE:AMT) last posted its quarterly 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). American Tower had a net margin of 18.42% and a return on equity of 18.45%. The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same period in the previous year, the company posted $2.54 earnings per share. American Tower’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities analysts anticipate that American Tower Co. will post 10.03 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 14th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Friday, June 14th. American Tower’s payout ratio is 146.61%.

Insider Buying and Selling at American Tower

In other American Tower news, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total value of $702,061.44. Following the sale, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Robert D. Hormats sold 700 shares of the 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 of the company’s stock, valued at approximately $1,345,422. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Sanjay Goel sold 3,504 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the sale, the executive vice president now directly owns 28,413 shares in the company, valued at $5,692,828.68. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AMT shares. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Mizuho started coverage on American Tower in a research report on Monday, April 8th. They set a “neutral” rating and a $205.00 price target on the stock. BMO Capital Markets reduced their price target on American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Barclays reduced their price target on American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Finally, Scotiabank reduced their price target on American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.