Prospera Financial Services Inc Takes $455,000 Position in American Tower Corp (NYSE:AMT)

Prospera Financial Services Inc purchased a new stake in shares of American Tower Corp (NYSE:AMT) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,873 shares of the real estate investment trust’s stock, valued at approximately $455,000.

Several other large investors have also made changes to their positions in the company. TrinityPoint Wealth LLC lifted its holdings in shares of American Tower by 1.4% during the second quarter. TrinityPoint Wealth LLC now owns 3,479 shares of the real estate investment trust’s stock valued at $712,000 after purchasing an additional 49 shares in the last quarter. Hall Laurie J Trustee lifted its holdings in shares of American Tower by 13.3% during the second quarter. Hall Laurie J Trustee now owns 425 shares of the real estate investment trust’s stock valued at $87,000 after purchasing an additional 50 shares in the last quarter. Knuff & Co LLC lifted its holdings in shares of American Tower by 0.3% during the second quarter. Knuff & Co LLC now owns 18,390 shares of the real estate investment trust’s stock valued at $3,760,000 after purchasing an additional 50 shares in the last quarter. GYL Financial Synergies LLC lifted its holdings in shares of American Tower by 4.5% during the second quarter. GYL Financial Synergies LLC now owns 1,167 shares of the real estate investment trust’s stock valued at $239,000 after purchasing an additional 50 shares in the last quarter. Finally, Veritable L.P. lifted its holdings in shares of American Tower by 0.3% during the second quarter. Veritable L.P. now owns 20,092 shares of the real estate investment trust’s stock valued at $4,108,000 after purchasing an additional 51 shares in the last quarter. 92.50% of the stock is currently owned by hedge funds and other institutional investors.

American Tower stock opened at $221.20 on Wednesday. The stock has a market cap of $95.34 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 1.75 and a beta of 0.47. The company has a debt-to-equity ratio of 4.13, a quick ratio of 0.49 and a current ratio of 0.49. American Tower Corp has a one year low of $140.40 and a one year high of $242.00. The stock has a fifty day moving average of $223.08 and a 200 day moving average of $205.49.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.91). The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.83 billion. American Tower had a return on equity of 24.75% and a net margin of 19.30%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.74 EPS. As a group, sell-side analysts predict that American Tower Corp will post 7.67 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Friday, September 27th will be given a $0.95 dividend. This is a boost from American Tower’s previous quarterly dividend of $0.92. The ex-dividend date is Thursday, September 26th. This represents a $3.80 dividend on an annualized basis and a yield of 1.72%. American Tower’s dividend payout ratio is presently 46.06%.

A number of analysts recently commented on AMT shares. Zacks Investment Research upgraded American Tower from a “hold” rating to a “buy” rating and set a $237.00 price objective for the company in a research report on Tuesday, August 20th. UBS Group cut American Tower from a “buy” rating to a “neutral” rating and upped their price objective for the company from $195.00 to $222.00 in a research report on Friday, June 7th. KeyCorp upped their price objective on American Tower from $225.00 to $253.00 and gave the company an “overweight” rating in a research report on Monday, August 19th. SunTrust Banks upped their price objective on American Tower to $230.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. upped their price objective on American Tower from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $205.87.

In other American Tower news, Director Craig Macnab sold 5,953 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $225.46, for a total value of $1,342,163.38. Following the completion of the sale, the director now owns 14,341 shares in the company, valued at $3,233,321.86. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Pamela D. A. Reeve sold 4,167 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $240.80, for a total value of $1,003,413.60. Following the completion of the sale, the director now owns 19,139 shares of the company’s stock, valued at approximately $4,608,671.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 135,354 shares of company stock valued at $28,232,160. Company insiders own 0.75% of the company’s stock.

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

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