American Tower Co. (NYSE:AMT) Shares Purchased by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC increased its stake in shares of American Tower Co. (NYSE:AMT) by 2.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,391 shares of the real estate investment trust’s stock after purchasing an additional 182 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in American Tower were worth $1,460,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMT. Norges Bank acquired a new position in American Tower during the 4th quarter worth $1,051,898,000. Wellington Management Group LLP lifted its holdings in American Tower by 21.9% during the 4th quarter. Wellington Management Group LLP now owns 15,823,622 shares of the real estate investment trust’s stock worth $3,416,004,000 after buying an additional 2,839,570 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in American Tower by 36.2% during the 1st quarter. Principal Financial Group Inc. now owns 8,794,776 shares of the real estate investment trust’s stock worth $1,737,760,000 after buying an additional 2,336,501 shares during the last quarter. Edgewood Management LLC lifted its holdings in American Tower by 46.2% during the 4th quarter. Edgewood Management LLC now owns 4,985,879 shares of the real estate investment trust’s stock worth $1,076,352,000 after buying an additional 1,576,683 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in American Tower by 41.0% during the 4th quarter. Jennison Associates LLC now owns 5,299,306 shares of the real estate investment trust’s stock worth $1,144,014,000 after buying an additional 1,541,029 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

American Tower Stock Performance

NYSE AMT traded up $3.94 on Friday, hitting $213.86. 1,548,181 shares of the company’s stock were exchanged, compared to its average volume of 2,315,905. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.85. The firm’s 50-day moving average price is $197.20 and its two-hundred day moving average price is $193.79. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10. The firm has a market cap of $99.87 billion, a price-to-earnings ratio of 48.08, a P/E/G ratio of 1.47 and a beta of 0.81.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same quarter in the previous year, the firm posted $2.54 EPS. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, research analysts expect that American Tower Co. will post 10.04 EPS for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 14th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Friday, June 14th. American Tower’s dividend payout ratio is currently 146.61%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMT. Raymond James raised American Tower from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $226.00 to $248.00 in a report on Wednesday, May 1st. Wells Fargo & Company lifted their price target on American Tower from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Scotiabank decreased their price target on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a report on Wednesday, May 1st. Barclays reduced their target price on American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Finally, The Goldman Sachs Group initiated coverage on American Tower in a report on Monday, July 1st. They issued a “buy” rating and a $230.00 target price for the company. Three investment 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 company. According to data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus target price of $222.92.

American Tower Company 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.