Applied Capital LLC FL Invests $303,000 in American Tower Co. (NYSE:AMT)

Applied Capital LLC FL bought a new stake in American Tower Co. (NYSE:AMT) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,532 shares of the real estate investment trust’s stock, valued at approximately $303,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new stake in shares of American Tower during the 1st quarter worth $25,000. Gold Investment Management Ltd. acquired a new position in American Tower in the fourth quarter valued at $28,000. Thompson Investment Management Inc. acquired a new position in shares of American Tower during the fourth quarter worth about $29,000. Private Wealth Management Group LLC acquired a new position in American Tower during the fourth quarter worth about $31,000. Finally, SOA Wealth Advisors LLC. acquired a new position in American Tower during the first quarter worth about $30,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

NYSE:AMT traded down $1.97 during mid-day trading on Tuesday, hitting $192.05. The stock had a trading volume of 1,289,629 shares, compared to its average volume of 2,407,776. The stock has a market capitalization of $89.68 billion, a price-to-earnings ratio of 43.47, a P/E/G ratio of 1.39 and a beta of 0.81. The company has a 50 day simple moving average of $188.65 and a 200-day simple moving average of $194.83. American Tower Co. has a 52 week low of $154.58 and a 52 week 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 released its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share 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 analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business earned $2.54 earnings per share. On average, research analysts expect that American Tower Co. will post 10.03 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Friday, June 14th. American Tower’s dividend payout ratio is currently 146.61%.

Insider Buying and Selling

In other American Tower news, EVP Sanjay Goel sold 3,504 shares of the 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 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related 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 completion of the transaction, the director now directly owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sanjay Goel sold 3,504 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were 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 owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AMT has been the topic of several recent analyst reports. Mizuho initiated coverage on shares of American Tower in a research note on Monday, April 8th. They set a “neutral” rating and a $205.00 price objective on the stock. Morgan Stanley increased 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. Raymond James raised shares of American Tower from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $226.00 to $248.00 in a research note on Wednesday, May 1st. The Goldman Sachs Group started coverage on shares of American Tower in a research report on Monday. They issued a “buy” rating and a $230.00 price objective for the company. Finally, BMO Capital Markets decreased their price objective on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and a consensus target price of $221.67.

American Tower Profile

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.