Ostrum Asset Management acquired a new stake in American Tower Corp (NYSE:AMT) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,498 shares of the real estate investment trust’s stock, valued at approximately $945,000.
A number of other hedge funds have also recently made changes to their positions in AMT. Alps Advisors Inc. purchased a new position in American Tower in the 4th quarter valued at $206,000. Candriam Luxembourg S.C.A. lifted its holdings in American Tower by 4.0% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 48,798 shares of the real estate investment trust’s stock valued at $6,962,000 after purchasing an additional 1,857 shares in the last quarter. Pegasus Partners Ltd. lifted its holdings in American Tower by 30.3% in the 4th quarter. Pegasus Partners Ltd. now owns 10,132 shares of the real estate investment trust’s stock valued at $1,446,000 after purchasing an additional 2,354 shares in the last quarter. Brighton Jones LLC purchased a new position in American Tower in the 4th quarter valued at $285,000. Finally, Greenleaf Trust lifted its holdings in American Tower by 24.2% in the 4th quarter. Greenleaf Trust now owns 48,991 shares of the real estate investment trust’s stock valued at $6,990,000 after purchasing an additional 9,530 shares in the last quarter. Institutional investors own 92.20% of the company’s stock.
Shares of AMT opened at $136.46 on Thursday. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $61.67 billion, a price-to-earnings ratio of 21.39, a P/E/G ratio of 1.60 and a beta of 0.80. American Tower Corp has a 52-week low of $129.16 and a 52-week high of $155.28.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Tuesday, June 19th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.26%. This is an increase from American Tower’s previous quarterly dividend of $0.75. The ex-dividend date is Monday, June 18th. American Tower’s dividend payout ratio (DPR) is presently 47.02%.
A number of brokerages have weighed in on AMT. Morgan Stanley decreased their price objective on American Tower from $161.00 to $157.00 and set an “overweight” rating on the stock in a report on Friday, March 16th. Citigroup cut their target price on American Tower from $162.00 to $161.00 and set a “buy” rating for the company in a research note on Tuesday, March 27th. KeyCorp set a $171.00 target price on American Tower and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Zacks Investment Research raised American Tower from a “sell” rating to a “hold” rating in a research note on Tuesday, April 3rd. Finally, ValuEngine downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Friday, April 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $160.15.
In related news, Director Samme L. Thompson sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, March 20th. The stock was sold at an average price of $146.36, for a total transaction of $512,260.00. Following the completion of the sale, the director now directly owns 22,125 shares of the company’s stock, valued at approximately $3,238,215. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James D. Taiclet, Jr. sold 43,843 shares of the firm’s stock in a transaction dated Tuesday, May 29th. The stock was sold at an average price of $135.53, for a total value of $5,942,041.79. Following the sale, the chief executive officer now directly owns 223,227 shares of the company’s stock, valued at $30,253,955.31. The disclosure for this sale can be found here. Insiders have sold a total of 124,129 shares of company stock valued at $17,118,119 over the last three months. Corporate insiders own 0.87% of the company’s stock.
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 150,000 communications sites. For more information about American Tower, please visit the ?Earnings Materials? and ?Company & Industry Resources? sections of our investor relations website at www.americantower.com.
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