Elevated Capital Advisors LLC bought a new stake in American Tower Co. (NYSE:AMT – Get Rating) during the first quarter, HoldingsChannel.com reports. The fund bought 2,522 shares of the real estate investment trust’s stock, valued at approximately $633,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in AMT. Cassady Schiller Wealth Management LLC acquired a new position in American Tower in the 4th quarter valued at about $25,000. Rational Advisors LLC grew its stake in American Tower by 140.0% in the 4th quarter. Rational Advisors LLC now owns 84 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 49 shares during the last quarter. Sandy Cove Advisors LLC acquired a new position in American Tower in the 4th quarter valued at about $27,000. Crewe Advisors LLC acquired a new position in American Tower in the 4th quarter valued at about $28,000. Finally, First Personal Financial Services acquired a new position in American Tower in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 91.00% of the company’s stock.
In related news, CFO Rodney M. Smith sold 25,389 shares of the company’s stock in a transaction dated Thursday, April 21st. The stock was sold at an average price of $270.00, for a total transaction of $6,855,030.00. Following the sale, the chief financial officer now owns 52,398 shares in the company, valued at approximately $14,147,460. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert D. Hormats sold 200 shares of the company’s stock in a transaction dated Wednesday, June 15th. The shares were 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 disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.
American Tower (NYSE:AMT – Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The real estate investment trust reported $1.56 EPS for the quarter, missing analysts’ consensus estimates of $2.41 by ($0.85). American Tower had a return on equity of 30.44% and a net margin of 26.72%. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same period last year, the firm posted $2.46 EPS. American Tower’s quarterly revenue was up 23.2% on a year-over-year basis. On average, research analysts forecast that American Tower Co. will post 9.65 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 8th. Shareholders of record on Friday, June 17th will be issued a $1.43 dividend. This represents a $5.72 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Thursday, June 16th. This is a boost from American Tower’s previous quarterly dividend of $1.40. American Tower’s dividend payout ratio is presently 98.96%.
A number of research analysts have issued reports on AMT shares. Credit Suisse Group started coverage on shares of American Tower in a research report on Wednesday, June 22nd. They set an “outperform” rating and a $313.00 target price on the stock. JPMorgan Chase & Co. upgraded shares of American Tower from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $245.00 to $285.00 in a research report on Tuesday, June 21st. Bank of America started coverage on shares of American Tower in a research report on Sunday, June 5th. They set a “buy” rating and a $315.00 target price on the stock. StockNews.com started coverage on shares of American Tower in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, KeyCorp decreased their target price on shares of American Tower from $286.00 to $283.00 and set an “overweight” rating on the stock in a research report on Friday. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and an average target price of $292.07.
American Tower Profile (Get Rating)
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.
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