F3Logic LLC boosted its holdings in shares of American Tower Corp (NYSE:AMT) by 45.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,985 shares of the real estate investment trust’s stock after purchasing an additional 620 shares during the period. F3Logic LLC’s holdings in American Tower were worth $391,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of AMT. Quantamental Technologies LLC acquired a new stake in shares of American Tower in the 4th quarter worth $25,000. Canton Hathaway LLC acquired a new stake in shares of American Tower in the 1st quarter worth $26,000. Lavaca Capital LLC acquired a new stake in shares of American Tower in the 4th quarter worth $27,000. Acima Private Wealth LLC acquired a new stake in shares of American Tower in the 4th quarter worth $27,000. Finally, WESPAC Advisors SoCal LLC acquired a new stake in shares of American Tower in the 4th quarter worth $27,000. 94.84% of the stock is currently owned by institutional investors.
Shares of NYSE AMT opened at $198.07 on Thursday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 4.31. American Tower Corp has a 52 week low of $134.87 and a 52 week high of $201.20. The stock has a market capitalization of $87.03 billion, a P/E ratio of 24.79, a P/E/G ratio of 1.61 and a beta of 0.66.
American Tower (NYSE:AMT) last announced its quarterly earnings data on Friday, May 3rd. The real estate investment trust reported $1.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.80 by $0.04. American Tower had a net margin of 17.95% and a return on equity of 22.61%. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the business earned $0.63 earnings per share. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, research analysts anticipate that American Tower Corp will post 7.51 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Thursday, April 11th were issued a dividend of $0.90 per share. This is an increase from American Tower’s previous quarterly dividend of $0.84. This represents a $3.60 annualized dividend and a yield of 1.82%. The ex-dividend date was Wednesday, April 10th. American Tower’s dividend payout ratio (DPR) is 45.06%.
In other American Tower news, CEO James D. Taiclet, Jr. sold 11,863 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $195.88, for a total transaction of $2,323,724.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James D. Taiclet, Jr. sold 8,580 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $190.73, for a total transaction of $1,636,463.40. Following the transaction, the chief executive officer now owns 197,976 shares of the company’s stock, valued at $37,759,962.48. The disclosure for this sale can be found here. Insiders have sold a total of 171,718 shares of company stock valued at $33,175,251 over the last 90 days. 0.75% of the stock is currently owned by insiders.
AMT has been the subject of several recent analyst reports. KeyCorp raised their target price on shares of American Tower from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 12th. Morgan Stanley raised their target price on shares of American Tower from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Monday, March 11th. Citigroup raised their target price on shares of American Tower from $176.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Edward Jones cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. Finally, Oppenheimer cut shares of American Tower from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 28th. Twelve investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. American Tower presently has an average rating of “Hold” and an average target price of $180.44.
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About American Tower
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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