Vinva Investment Management Ltd Grows Stock Position in American Tower Co. (NYSE:AMT)

Vinva Investment Management Ltd raised its holdings in American Tower Co. (NYSE:AMTFree Report) by 16.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,981 shares of the real estate investment trust’s stock after buying an additional 2,265 shares during the quarter. Vinva Investment Management Ltd’s holdings in American Tower were worth $3,470,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in American Tower by 0.3% during the third quarter. Vanguard Group Inc. now owns 60,930,583 shares of the real estate investment trust’s stock worth $10,020,034,000 after purchasing an additional 196,942 shares during the last quarter. Wellington Management Group LLP raised its position in shares of American Tower by 5.6% in the 3rd quarter. Wellington Management Group LLP now owns 12,984,052 shares of the real estate investment trust’s stock worth $2,135,227,000 after buying an additional 691,934 shares during the period. Morgan Stanley boosted its holdings in American Tower by 3.7% in the third quarter. Morgan Stanley now owns 7,269,957 shares of the real estate investment trust’s stock valued at $1,195,545,000 after acquiring an additional 258,030 shares during the last quarter. Akre Capital Management LLC grew its position in American Tower by 0.5% during the fourth quarter. Akre Capital Management LLC now owns 6,804,599 shares of the real estate investment trust’s stock valued at $1,468,977,000 after acquiring an additional 36,375 shares during the period. Finally, FMR LLC raised its holdings in shares of American Tower by 2.1% in the 3rd quarter. FMR LLC now owns 6,628,436 shares of the real estate investment trust’s stock worth $1,090,046,000 after purchasing an additional 138,303 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Activity

In other news, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the transaction, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robert D. Hormats sold 700 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the completion of the transaction, the director now directly owns 7,332 shares in the company, valued at $1,345,422. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Sanjay Goel sold 3,504 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total value of $702,061.44. Following the completion of the transaction, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on AMT shares. Barclays cut their price target on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Morgan Stanley raised their price objective on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $226.00 to $248.00 in a research note on Wednesday, May 1st. JPMorgan Chase & Co. lowered their target price on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Finally, StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average target price of $220.91.

View Our Latest Research Report on AMT

American Tower Stock Down 2.6 %

Shares of AMT traded down $5.23 during midday trading on Friday, hitting $194.26. The company had a trading volume of 2,143,410 shares, compared to its average volume of 2,286,427. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $219.10. The company’s 50 day moving average price is $184.81 and its 200 day moving average price is $196.27. The stock has a market cap of $90.72 billion, a price-to-earnings ratio of 43.96, a PEG ratio of 1.43 and a beta of 0.79.

American Tower (NYSE:AMTGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). American Tower had a net margin of 18.42% and a return on equity of 18.45%. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same quarter in the previous year, the company earned $2.54 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts predict that American Tower Co. will post 9.98 EPS for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 14th will be given a $1.62 dividend. The ex-dividend date is Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.34%. American Tower’s payout ratio is currently 146.61%.

American Tower Profile

(Free Report)

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 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.

Further Reading

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

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