A number of other large investors also recently modified their holdings of the company. McGowan Group Asset Management Inc. grew its holdings in shares of American Tower by 4.4% in the 2nd quarter. McGowan Group Asset Management Inc. now owns 902 shares of the real estate investment trust’s stock worth $230,000 after acquiring an additional 38 shares during the last quarter. Delta Financial Advisors LLC grew its holdings in shares of American Tower by 2.7% during the second quarter. Delta Financial Advisors LLC now owns 1,535 shares of the real estate investment trust’s stock valued at $392,000 after buying an additional 40 shares in the last quarter. Ranch Capital Advisors Inc. grew its holdings in shares of American Tower by 3.5% during the second quarter. Ranch Capital Advisors Inc. now owns 1,220 shares of the real estate investment trust’s stock valued at $312,000 after buying an additional 41 shares in the last quarter. Hotaling Investment Management LLC grew its holdings in shares of American Tower by 0.3% during the second quarter. Hotaling Investment Management LLC now owns 14,220 shares of the real estate investment trust’s stock valued at $3,634,000 after buying an additional 41 shares in the last quarter. Finally, Personal Capital Advisors Corp grew its holdings in shares of American Tower by 1.7% during the first quarter. Personal Capital Advisors Corp now owns 2,510 shares of the real estate investment trust’s stock valued at $631,000 after buying an additional 43 shares in the last quarter. 89.65% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at American Tower
In other American Tower news, Director Samme L. Thompson sold 1,739 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $218.59, for a total value of $380,128.01. Following the completion of the transaction, the director now owns 22,099 shares of the company’s stock, valued at approximately $4,830,620.41. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other American Tower news, Director Samme L. Thompson sold 1,739 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $218.59, for a total value of $380,128.01. Following the completion of the transaction, the director now owns 22,099 shares of the company’s stock, valued at approximately $4,830,620.41. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Rodney M. Smith sold 2,035 shares of the company’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $220.85, for a total value of $449,429.75. Following the completion of the sale, the chief financial officer now owns 48,645 shares in the company, valued at $10,743,248.25. The disclosure for this sale can be found here. Insiders sold a total of 8,587 shares of company stock valued at $1,947,849 in the last quarter. Corporate insiders own 0.24% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on AMT. Cowen lowered their price target on American Tower to $279.00 in a report on Tuesday, November 1st. Barclays lowered their price target on American Tower from $247.00 to $246.00 and set an “overweight” rating on the stock in a report on Wednesday, February 8th. KeyCorp lowered their price target on American Tower from $264.00 to $252.00 and set an “overweight” rating on the stock in a report on Friday, October 28th. Morgan Stanley boosted their target price on American Tower from $219.00 to $224.00 and gave the company an “equal weight” rating in a research note on Monday, January 23rd. Finally, The Goldman Sachs Group upgraded American Tower from a “neutral” rating to a “buy” rating and boosted their target price for the company from $215.00 to $245.00 in a research note on Tuesday, January 10th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $266.00.
American Tower Price Performance
NYSE AMT opened at $216.72 on Monday. American Tower Co. has a twelve month low of $178.17 and a twelve month high of $282.47. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $100.91 billion, a PE ratio of 34.40, a P/E/G ratio of 1.98 and a beta of 0.55. The stock has a 50-day simple moving average of $218.27 and a 200 day simple moving average of $227.24.
American Tower Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 2nd. Investors of record on Wednesday, December 28th were given a dividend of $1.56 per share. This represents a $6.24 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Tuesday, December 27th. This is a boost from American Tower’s previous quarterly dividend of $1.47. American Tower’s payout ratio is currently 99.05%.
American Tower Profile
(Get Rating)
American Tower Corp. provides real estate investment services, and owns, operates, and develops multi-tenant real estate properties. It operates through the following segments: U.S. & Canada, Asia-Pacific, Europe, Africa Latin America, and Services. The Asia-Pacific segment refers to the operations in Australia and India.
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