Tcwp LLC Invests $312,000 in American Tower Co. (NYSE:AMT)

Tcwp LLC bought a new position in American Tower Co. (NYSE:AMTGet Rating) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,244 shares of the real estate investment trust’s stock, valued at approximately $312,000.

A number of other institutional investors have also made changes to their positions in AMT. YHB Investment Advisors Inc. raised its position in American Tower by 4.7% in the 1st quarter. YHB Investment Advisors Inc. now owns 945 shares of the real estate investment trust’s stock valued at $237,000 after buying an additional 42 shares during the last quarter. McIlrath & Eck LLC increased its stake in American Tower by 17.6% in the 4th quarter. McIlrath & Eck LLC now owns 287 shares of the real estate investment trust’s stock valued at $84,000 after buying an additional 43 shares during the last quarter. Venture Visionary Partners LLC grew its holdings in shares of American Tower by 1.2% in the 1st quarter. Venture Visionary Partners LLC now owns 3,730 shares of the real estate investment trust’s stock valued at $937,000 after acquiring an additional 45 shares in the last quarter. Personal CFO Solutions LLC increased its position in shares of American Tower by 3.3% in the first quarter. Personal CFO Solutions LLC now owns 1,422 shares of the real estate investment trust’s stock valued at $357,000 after acquiring an additional 46 shares during the last quarter. Finally, PDS Planning Inc raised its holdings in American Tower by 4.8% during the first quarter. PDS Planning Inc now owns 1,023 shares of the real estate investment trust’s stock worth $257,000 after acquiring an additional 47 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other American Tower news, Director Robert D. Hormats sold 200 shares of the company’s stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $235.40, for a total value of $47,080.00. Following the sale, the director now owns 6,721 shares in the company, valued at approximately $1,582,123.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other American Tower news, Director Robert D. Hormats sold 150 shares of American Tower stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $254.53, for a total value of $38,179.50. Following the completion of the sale, the director now directly owns 6,571 shares in the company, valued at $1,672,516.63. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert D. Hormats sold 200 shares of the stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $235.40, for a total value of $47,080.00. Following the transaction, the director now owns 6,721 shares in the company, valued at $1,582,123.40. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Citigroup dropped their price objective on American Tower from $300.00 to $290.00 and set a “buy” rating on the stock in a research note on Monday, July 18th. Royal Bank of Canada raised their target price on shares of American Tower from $282.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 4th. Morgan Stanley lowered their price target on American Tower from $268.00 to $252.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 20th. Credit Suisse Group started coverage on American Tower in a research note on Wednesday, June 22nd. They set an “outperform” rating and a $313.00 target price for the company. Finally, Jefferies Financial Group cut their target price on shares of American Tower from $308.00 to $293.00 and set a “buy” rating for the company in a research note on Thursday, June 30th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $291.13.

American Tower Stock Performance

American Tower stock opened at $278.45 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 3.47. The stock has a market cap of $129.64 billion, a PE ratio of 45.80, a P/E/G ratio of 2.59 and a beta of 0.46. American Tower Co. has a 12-month low of $220.00 and a 12-month high of $303.72. The business’s 50-day moving average price is $258.72 and its two-hundred day moving average price is $249.91.

American Tower (NYSE:AMTGet Rating) last released its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.99. American Tower had a net margin of 27.23% and a return on equity of 28.93%. The business had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the prior year, the company earned $2.42 EPS. The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. As a group, analysts expect that American Tower Co. will post 9.37 earnings per share for the current fiscal year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 8th. Investors of record on Friday, June 17th were issued a $1.43 dividend. This represents a $5.72 dividend on an annualized basis and a yield of 2.05%. This is an increase from American Tower’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Thursday, June 16th. American Tower’s dividend payout ratio is presently 94.08%.

About American Tower

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American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.

See Also

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

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