Steel Grove Capital Advisors LLC acquired a new position in shares of American Tower Co. (NYSE:AMT – Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,503 shares of the real estate investment trust’s stock, valued at approximately $297,000.
Several other large investors have also made changes to their positions in AMT. Northwest Investment Counselors LLC purchased a new position in shares of American Tower in the 1st quarter worth about $25,000. Gold Investment Management Ltd. purchased a new position in American Tower in the fourth quarter valued at approximately $28,000. SOA Wealth Advisors LLC. acquired a new position in American Tower during the first quarter valued at approximately $30,000. Private Wealth Management Group LLC purchased a new stake in American Tower during the fourth quarter worth approximately $31,000. Finally, Rational Advisors LLC acquired a new stake in shares of American Tower in the first quarter worth $35,000. 92.69% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, EVP Sanjay Goel sold 3,504 shares of the 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 sale, the executive vice president now owns 28,413 shares in the company, valued at $5,692,828.68. The transaction 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 company’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 transaction, the executive vice president now directly owns 28,413 shares in the company, valued at approximately $5,692,828.68. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert D. Hormats sold 700 shares of the firm’s stock in a transaction on 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 sale, the director now owns 7,332 shares in the company, valued at $1,345,422. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.
Analysts Set New Price Targets
View Our Latest Stock Report on AMT
American Tower Stock Up 1.8 %
Shares of American Tower stock traded up $3.80 during trading on Friday, reaching $213.72. The company had a trading volume of 1,548,313 shares, compared to its average volume of 1,581,128. The company has a market cap of $99.80 billion, a price-to-earnings ratio of 48.35, a price-to-earnings-growth ratio of 1.50 and a beta of 0.81. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10. The firm’s fifty day moving average is $197.59 and its 200-day moving average is $193.65. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.85 and a current ratio of 0.85.
American Tower (NYSE:AMT – Get Free Report) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same period in the prior year, the business earned $2.54 EPS. The company’s quarterly revenue was up 2.4% on a year-over-year basis. On average, analysts anticipate that American Tower Co. will post 10.04 EPS for the current year.
American Tower Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 14th were given a $1.62 dividend. The ex-dividend date was Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.03%. American Tower’s payout ratio is currently 146.61%.
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.
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