IFM Investors Pty Ltd Grows Stock Holdings in American Tower Corp (NYSE:AMT)

IFM Investors Pty Ltd boosted its holdings in American Tower Corp (NYSE:AMT) by 13.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,900 shares of the real estate investment trust’s stock after buying an additional 4,347 shares during the period. IFM Investors Pty Ltd’s holdings in American Tower were worth $8,920,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Mission Wealth Management LP grew its position in shares of American Tower by 8.7% during the 3rd quarter. Mission Wealth Management LP now owns 1,248 shares of the real estate investment trust’s stock valued at $302,000 after purchasing an additional 100 shares in the last quarter. Stokes Capital Advisors LLC grew its position in shares of American Tower by 29.5% during the 3rd quarter. Stokes Capital Advisors LLC now owns 7,269 shares of the real estate investment trust’s stock valued at $1,757,000 after purchasing an additional 1,654 shares in the last quarter. First Citizens Bank & Trust Co. grew its position in shares of American Tower by 70.8% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 5,972 shares of the real estate investment trust’s stock valued at $1,444,000 after purchasing an additional 2,475 shares in the last quarter. Diversified Trust Co grew its position in shares of American Tower by 17.0% during the 3rd quarter. Diversified Trust Co now owns 4,471 shares of the real estate investment trust’s stock valued at $1,081,000 after purchasing an additional 648 shares in the last quarter. Finally, Somerset Trust Co grew its position in shares of American Tower by 3.3% during the 3rd quarter. Somerset Trust Co now owns 4,822 shares of the real estate investment trust’s stock valued at $1,166,000 after purchasing an additional 155 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

AMT has been the subject of a number of recent analyst reports. KeyCorp lowered shares of American Tower from an “overweight” rating to a “sector weight” rating in a research report on Monday, July 13th. Zacks Investment Research upgraded shares of American Tower from a “sell” rating to a “hold” rating and set a $273.00 price target for the company in a research report on Monday, June 29th. Credit Suisse Group restated a “buy” rating and set a $300.00 price target on shares of American Tower in a research report on Friday, July 31st. Oppenheimer assumed coverage on shares of American Tower in a research report on Tuesday, August 11th. They issued a “buy” rating and a $290.00 target price for the company. Finally, Barclays assumed coverage on shares of American Tower in a research report on Wednesday, July 15th. They issued an “overweight” rating and a $296.00 target price for the company. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $273.69.

American Tower stock traded up $3.12 during mid-day trading on Friday, hitting $242.72. The company’s stock had a trading volume of 1,479,993 shares, compared to its average volume of 2,082,038. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market cap of $107.66 billion, a price-to-earnings ratio of 56.32, a price-to-earnings-growth ratio of 2.08 and a beta of 0.37. The business has a 50 day moving average price of $246.13 and a 200-day moving average price of $249.44. American Tower Corp has a 12 month low of $174.32 and a 12 month high of $272.20.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.99). The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.95 billion. American Tower had a return on equity of 39.62% and a net margin of 24.70%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.01 earnings per share. On average, equities research analysts expect that American Tower Corp will post 8 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Monday, September 28th were paid a $1.14 dividend. The ex-dividend date was Friday, September 25th. This is an increase from American Tower’s previous quarterly dividend of $1.10. This represents a $4.56 annualized dividend and a yield of 1.88%. American Tower’s payout ratio is currently 58.99%.

In other news, Director David E. Sharbutt sold 973 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $255.27, for a total transaction of $248,377.71. Following the completion of the transaction, the director now directly owns 763 shares of the company’s stock, valued at $194,771.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Steven O. Vondran sold 1,334 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $259.00, for a total transaction of $345,506.00. Following the transaction, the executive vice president now directly owns 22,224 shares of the company’s stock, valued at $5,756,016. The disclosure for this sale can be found here. Insiders sold 26,525 shares of company stock valued at $6,870,712 over the last three months. 0.65% of the stock is currently owned by insiders.

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 approximately 171,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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